Funding your pharmacy purchase
Raising the funding for the purchase of a pharmacy is paramount. MediFinancial work with all specialist UK Healthcare lenders the UK to source the necessary funding, and in some cases attaining preferential rates
Review current assets and liabilities
An understanding of the individual’s current financial situation will allow us to ascertain the upper levels the banks will go up to.
Prior to even viewing a practice, if you have found a particular practiced you are interested in, by providing us with the basic details we will profile the practice to the 14 specialist healthcare banks to see if and see if it is a financially viable proposition for you and them. This will give confidence in not losing a deposit paid to an agent for a practice purchase if the banks will not fund it.
I have found a pharmacy I like
Supply details and accounts of pharmacy found
Once there is a target pharmacy the banks require documentation in order to give a loan in principle. This bundle of documents is paramount in attaining a pharmacy loan, MediFinancial will guide and compile this bundle of documents and ensure they are sent to the banks.
Create business case package and approach 14 banks for best deal and rates
A full business case detailing the current business and where the business will be under the new owners is created on behalf of the individual by MediFinancial. This is then sent to the banks along with all other documentation required to source the required funding .
Review insurances required by banks and put these in place
When a pharmacy is purchased, banks will require relevant insurances to be in place on the day of completion. With each case being individual, MediFinancial will review the requirements and generate the relevant cover to suffice the bank’s needs.