A four-practice dental group based in Leicester was referred to us by a high street bank after they were unable to help them.
The business had historic issues with fulfilling new NHS contracts they were awarded which, although all issues had been resolved, had resulted in a large amount of clawback owed.
At the same time, the company was due increases to three contracts that would generate a significant increase to their turnover.
However, these contracts were not able to be increased while an element of NHS clawback existed -despite the company incurring the costs of having the staff levels ready and in place to meet the increased volume.
The cost to the business in bottom line cashflow was £90,000 per month.
As their bank wasn’t able to help, a member of our healthcare team contacted one of our specialist funders to see if we could.
We arranged a rolling credit facility with a specialist funder that lent against the future NHS income that would be coming into the business – something that is unique to the dental sector.
The funding was arranged and the dental practice were able to pay the NHS clawback amount in full, restructure other bank facilities and to be awarded the increases on the additional three contracts.
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