Question 1

Why should I use an independent commercial finance broker?

Accepted Answer

There are a number of reasons why you should use an independent Commercial Finance Broker:

A finance broker is on your side
A finance broker will have multiple lending options
A finance broker will treat you as an individual
A finance broker is not just there to source your loan – they hold your hand from initial enquiry to completion
A finance broker will be qualified
A finance broker will save you time

An independent Commercial Finance Broker will possess the experience, skills and contacts to find the most appropriate finance package, in terms of price and flexibility, for you and your business.

They genuinely act for you as a purchaser to ensure you achieve your dream of practice ownership.

Question 2

What information do the banks need when considering a loan application?

Accepted Answer

Any bank considering a funding application will focus on 2 key areas before undertaking any loan assessment:

The buyer
The subject business

The bank will look for evidence of both your clinical and managerial experience and will want to see your CV, details of your prior earnings, bank statements and asset and liability profile.

They will then focus on the subject business you will be buying. Sight of the most recent accounts, up to date MI and ultimately a business plan & Profit/Loss forecasts based on your proposed working arrangements to gauge whether it is a viable business proposition.

If you’d like to talk to us further about what’s needed, please give call on 0330 088 1157.

Question 3

Are the banks still lending?

Accepted Answer

We are often asked this question and the answer is most definitely yes.  Most banks are happy to lend against goodwill, and even short leases, but you need to bear in mind that the policies and lending criteria may differ sizably from one bank to the next.

This where we can help. Our job as an independent broker is to match clients with the right bank, and indeed the right bank manager, to ensure a positive lending decision.  Please call us on 0330 088 1157 to find out more.

Question 4

My loan is coming to the end of its fixed term - do I take a new Fixed or Variable rate or are there other options?

Accepted Answer

The simple answer to this question is ‘It Depends’ – it really is down to personal circumstances and your future plans.

Before you make any decision, always speak to an independent adviser who can assess your current position and discuss your future plans and aspirations.  Armed with this knowledge they can then run through the options open to you both with your existing lender or potentially alternative providers.

Do call the FTA team on 0330 088 1157 as we will be pleased to review your current position.

Question 5

Can I meet with a member of the FTA Finance team to discuss my funding proposal?

Accepted Answer

We are more than happy to meet with any client to discuss their requirements and funding proposal – this can be face-to-face, online (Teams or Zoom) or on the phone.

Simply let us know your preferred option and we’d be happy to arrange it.

Call us on 0330 088 1157 and speak to one of the team today.

Frequently Asked Questions

Why should I use an independent commercial finance broker?

What information do the banks need when considering a loan application?

Are the banks still lending?

My loan is coming to the end of its fixed term - do I take a new Fixed or Variable rate or are there other options?

Can I meet with a member of the FTA Finance team to discuss my funding proposal?