Healthcare Finance

Meet The Team

Dedicated team of Healthcare Finance Experts

Our specialist healthcare finance team is led by Mike Gascoigne who has over 30 years of experience in the healthcare finance industry. Mike has headed up our healthcare team for the past 5 years having previously worked for Santander Corporate Bank, Bank of Ireland, and Royal Bank of Scotland.

The healthcare finance team can help with any financial needs that a range of businesses might have. This includes care home finance, pharmacy finance and dental practice finance.  

What is Healthcare Finance?

Our healthcare division is a specialist team that provides finance for all types of care home funding, pharmacies and dentists.

Whether you’re a start-up making your first care home acquisition or an experienced business owner looking to expand your portfolio we can help.

We can arrange debt and private equity and can also look at other options like restructuring existing debt, unsecured funding or asset finance for purchasing equipment too.

Some of the healthcare assets we can finance

We offer a range of healthcare finance solutions, including:

Care Home Finance: If you're looking to buy a property for your care home business, we can arrange a specialist commercial mortgage. Our healthcare division can assist with your care home acquisition or portfolio expansion.

Pharmacy Finance: With recent changes to NHS contracts, lenders scrutinize healthcare sector proposals closely. Our healthcare division can help you find the right investment for your pharmacy acquisition or portfolio development.

Medical Equipment Finance: Running a practice, surgery, or care home comes with equipment and running costs. Whether it's X-ray machines, ECG monitors, or defibrillators, the expenses add up.

Nursery Care Finance: Our healthcare division and funders can help you find the right investment for nursery acquisitions or portfolio expansion.

Dental Practice Finance: Purchasing a dental practice requires commitment and time. Your career history, sector experience, and deposit are all considered. Our healthcare division has experience in financing practices of various sizes.

How does healthcare finance work?

We work with you and the lender of choice to determine the required loan amount, with the lender specifying the terms and conditions. Following your acceptance of the terms and conditions, you will get the full amount and typically make monthly repayments with interest for the specified period of time.

Many of the customers we support have more complex requirements but we also support new business ventures and experienced operators.

All we need from you initially is: 

• How much you need to borrow
• What deposit contribution you wish to make
• Your personal details
• Your contact details

Why your business might require healthcare finance

A business might need healthcare finance for several reasons including:

· Acquire new clinics, homes and surgeries.

· Assist with cash flow, growth and cost-saving measures.

· Assist with mergers and acquisitions.

· Expand or upgrade an existing building or facility.

· Higher market share.

· Modernise and upgrade medical equipment and technology.

How long does it take to secure healthcare finance?

Healthcare finance often varies and depends on the business and type of finance required.

Typically, it can take anywhere from a couple of weeks to months to get finance in place for your new purchase. Finance applicants for construction finance should have all their accounts in order and available for inspection, just like with any other type of business funding. Bank statements, the last three to five years’ worth of certified accounts, business plans, and specifics on assets and liabilities can all be required.

What are the different types of healthcare finance?

There are various types of healthcare financial options available to meet your needs, including:

Commercial mortgage - used to finance the purchase of new premises and renovations, such as the construction of new GP surgeries, residential care homes, or nursing homes.

Asset finance - used to finance a variety of medical equipment as well as non-medical assets used to support your practise, including surgical equipment and instruments, diagnostic scanners such as MRI and x-ray machines, and dental chairs, among others.

Hire purchase - a flexible method of financing an asset acquisition in which a business spreads the cost of purchasing the asset over the term of the agreement and has the option to own the asset at the end of the term.

Finance leasing - a flexible and cost-effective method in which eligible businesses has use of the equipment by making payments over a set period of time and returning it at the end of the term.

How much can you borrow?

Healthcare lenders are more concerned with serviceability, sector experience, and qualifications than with a maximum loan amount. The ability to demonstrate that you have or can manage the target business(s) is more important.

Applying for healthcare finance

Healthcare lenders will ask to view several documents when you apply for healthcare financing, including your business plans and other records relating to your cash flow and business prospects. You must demonstrate:

· Three years’ worth of business accounting (if applicable).

· Business asset and liabilities statement.

· Business management data.

· Business bank statements dating back six months.

· Detailed information of NHS contract and performance metrics.

· Your most recent P60 with the last three months’ worth of director/partner payslips and six months’ worth of personal bank statements if you are a contractor.

MAF Finance Group works with a large panel of banks and funders which can deliver competitive and flexible solutions to meet your needs.  

If you would like to get a quote or need further information, simply fill in the form and we will contact you. If you want to speak to someone directly, you can call us on 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at enquiries@maffinancegroup.co.uk.