Frequently Asked Questions (FAQs)
WHO WILL MEDIFINANCE DEAL WITH?
Medifinance offer finance and funding solutions from a wide panel of funders to the healthcare sector, the paper professions and the veterinary market.
Our specialist areas are the medical professions (for example: doctors, dentists, vets, chiropractors, pharmacists, opticians), but we also offer borrowing opportunities to any professional offering us eligible credentials. Such as:
- Adult Care Providers
FOR WHAT REASONS WILL WE CONSIDER APPLICATIONS?
The following are just some of the reasons our clients have borrowed through us, but we consider all applications.
- To purchase new equipment
- To refurbish or renovate their business premises
- To pay a tax bill or other large bill
- To buy a new vehicle
- To assist with a commercial mortgage
- To purchase a new practice
- To purchase a new kitchen, conservatory or even a boat.
- To buy-in to a business partnership
WHY IS MEDIFINANCE DIFFERENT?
- We are completely independent and have access to a wide panel of funders
- There is minimal red tape and form-filling
- We offer a personal and confidential service with a rapid response to every enquiry
- We obtain consistently good rates with terms that are bespoke to individual requirements
HOW MUCH CAN MEDIFINANCE CONSIDER?
- For personal use we consider applications from £2,000 to £50,000 over a period from 6 months up to 5 years.
- For business loans, HP or Leases we consider applications from £2,000 up to a guideline of £150,000 per equity partner and terms from 6 months up to seven years.
WHAT GUARANTEES DO YOU NEED?
- Guarantees are decided on a case-by-case basis but usually personal guarantees are required for Ltd companies.
HOW QUICKLY CAN I GET MY MONEY?
- Typically we operate on a 3-day turnaround for business loans, from application to received funds.
- For personal loans this is typically next day.
WHAT ARE YOUR REPAYMENT RATES?
- Our rates are from 4% flat and are dependent on each application.
- Repayment rates vary from funder to funder, as you would expect.
- Fixed monthly payments
- Loan terms 1-7 years, in special cases, 6 month terms may also be available.
- We fund the whole amount with no deposits required.
- Medifinance will not charge you for arranging loans or HP/Leases.