Securing finance in the healthcare sector can feel daunting, however Finance Elite are here to ensure that the process is hassle-free and efficient by utilising our years of experience to prepare the perfect funding application on your behalf. Whether you’re planning to buy your first practice, expand your portfolio, or re-finance your existing debt for a better deal, the way you present yourself and your target business is key.
Here are four practical steps to strengthen your finance application:
1. Get Your Personal Savings and Assets in Order
Lenders often look beyond your business—they want to see your personal financial position too. Having your savings, assets, and liabilities clearly documented shows that you have a stable foundation, reducing their perception of risk.
2. Ensure All of Your Personal Income and Expenditure Information Is Accurate
Your personal financial profile matters just as much as your business’s. Lenders will want a clear picture of your personal income, living costs, and financial commitments. Accuracy here is critical—small errors can cast doubt on your ability to manage repayments.
3. Consider Your Proposed Business Plan and Structure
Think carefully about how you would like your target practice to operate and where you want to be in the future. A clear business plan and proposed purchase structure—whether that’s as a sole trader, partnership, or limited company—gives lenders confidence that your borrowing will support sustainable growth and the ability to attempt to shape the deal to suit your requirements.
4. Work with a Specialist Broker Like Finance Elite
Not everyone you deal with will be sector specialists like Finance Elite. We understand the nuances of healthcare, and appreciate the specifics of healthcare finance. Working with a broker who specialises in your field means your application is presented to several market leader lenders who compete for your business, maximising your chances of approval and ensuring the most competitive terms in the market are achieved.
Final Thought
Approval isn’t just about meeting criteria, it’s about presenting a complete picture of stability, growth potential, and highlighting your sector expertise. With the right preparation and support, you can secure funding that positively enhances your target practice purchase.
If you’d like Finance Elite to support you with a financial analysis on a target practice, alongside help shaping the deal to fit your goals, be sure to get in touch now!
