Urgent Short Term Finance to Buy a Medical or Dental Practice

We can aim to, where the numbers work. We lend up to 70% of the lower of our valuation and the price, secured by the medical centre itself, and a second property, such as a director's home, can be added if more is needed. Ask your solicitor to review the receiver's contract, because its terms can differ from an ordinary sale, and to confirm what the sale means for your practice's lease. Send us the contract as soon as you receive it so the valuation can be booked.

• →Urgent loans when a receiver is appointed

Yes, where you or the practice can offer real property as security. The loan is made to the business buying the practice and secured by a property such as your home or an investment property, so it does not wait on the bank's review of the practice's trading figures. Terms can come back within hours, and settlement can follow within 24 hours of a signed letter of offer. Your bank then refinances our loan once its assessment is finished. Tell us the date the bank expects to approve, and we will set the term with room past it.

About $620,000. Our limit is 70% of the property's value across both mortgages: 70% of $1.6 million is $1,120,000, and taking away the $500,000 you owe leaves $620,000. The other $280,000 of the price, plus purchase costs, would come from savings, a bank loan for part of the price, or a second property added as security. A second mortgage is priced from 11.95% p.a. Check your home loan agreement and ask your solicitor what it says about a second mortgage.

• →Second mortgage finance

Yes. The deposit can be funded with a short term loan secured by a property you own, and $300,000 is above our $250,000 minimum. Our loan is repaid through the exit agreed at the start, for example a bank refinance once the practice is yours, or the sale of another property. Send us the heads of agreement and the exchange date, so the funds are ready on the day the deposit is due.

• →Urgent deposit funding

Up to $1,540,000 against the medical centre itself. On a purchase we lend up to 70% of the lower of the value and the price, and 70% of $2.2 million is $1,540,000, so about $860,000 plus stamp duty and costs has to come from elsewhere. That gap can be cash, or another property you own, such as your home, added as additional security within the same 70% limit. Send us the contract and your valuer's report.

• →Private lending for a medical centre acquisition

Yes, where you have property to offer as security. The loan is secured by that property, not by the clinic's billings, and the fit-out is paid as a lump sum at settlement within 70% of the property's value, never drawn in stages as the work progresses. Services Australia says a practitioner needs an additional provider number to work at a new practice location, so lodge that application alongside the fit-out. Your plan to repay us, such as a bank refinance once the clinic is trading, should allow for the weeks before the clinic bills.

Yes. The company is the borrower and receives the funds, and your house is the property that secures the loan, within 70% of its value across any mortgage already on it. Your solicitor will explain what it means for you to offer your own property for the company's loan, and your accountant can confirm how the company records it.

Yes, where the centre or its owners have property with room under our 70% limit, and the amount is $250,000 or more. The loan funds are paid to the business, which pays the revenue office, and the loan is repaid through a defined exit such as a bank refinance or a property sale. Whether to object to the assessment or ask for a payment arrangement is a question for your accountant, and it is worth asking before you borrow. Send us the assessment and its due date.

• →Professional services lending

Yes. Our terms run from 1 to 24 months, so a 12-month wait for the bank fits, and we would set the term with some months to spare. If the bank needs longer, talk to us well before the term ends, so there is time to agree the next step, such as a refinance with another lender or the sale of another property.

• →Short term loans

No. Our decision rests on the property securing the loan and the plan to repay it, not on the type of medical practice. Send us the contract for the premises and what each bank told you, so the plan for refinancing us later takes their reasons into account.

• →Bank finance fell through

We need to learn your scenario further. A strata consulting suite is commercial property we can lend on, and our in-house valuers assess the suite itself, but its size, the building and the use rules in the strata by-laws all affect the value. Send us the contract, the strata plan and your lease, and you will have our view within hours.

• →Urgent commercial property purchase loans

No. The loan is secured by real property: a medical centre you own, your home or an investment property. The practice, its goodwill and its patient list are what the money buys.

Yes. We fund the purchase of medical centres and consulting suites, including when the landlord offers to sell to the practice.

Yes. We can fund the buyout amount for the agreed completion date. Your lawyer and accountant should advise on the price and how the share is transferred.

Yes, because the lease is usually assigned to you at settlement, and the landlord must consent. Send us the lease and the landlord's consent timetable, so settlement and the assignment line up.

Yes. Fit-out, dental chairs, imaging and other equipment can be paid for with the loan as a lump sum at settlement, within 70% of the property value.

Yes. A second mortgage behind your bank loan leaves it untouched, which can avoid break costs on a fixed-rate loan. Your bank may need to consent.

A practice purchase can be funded on the same day where the scenario allows. Terms can be ready within an hour or two of your enquiry.

• →Terms in 1 hour and settlement in 5 business days for a dental practice
• →$250,000 transferred in under 2 hours
• →$3.2 million funded within 24 hours

Yes. As well as medical and dental practices, we lend to accountants, lawyers, architects and other professional services firms for working capital, fit-outs and practice purchases.

• →Healthcare and medical lending
• →Working capital loans