What Funding Options Are Available For SMEs In The UK Healthcare Sector?

Posted by Emma Robison on Dec 27, 2019 2:00:00 PM
Emma Robison
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What Funding Options Are Available For SMEs In The UK Healthcare Sector?


Obtaining funding for a healthcare business can be tricky, particularly if you don't have substantial assets. Whether you want to buy out a partner, expand your premises, purchase equipment, or cover an unexpected bill, there are lending instruments that could work for you. Let's look at some of the available solutions.

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Lending Instruments For Healthcare Businesses – A Summary

  • Loans – Short-term business loans can be useful when you need to buy costly pieces of medical equipment or cover the cost of medical supplies. A long-term loan could help you bring your expansion plans to fruition. Some lenders offer products specifically designed for healthcare companies and professionals, such as bridging loans and medical equipment loans, so it's worth investigating these.
  • Asset Finance – As well as HP finance on equipment, this can also enable you to lease practice or care home equipment with the option of eventually buying or upgrading it – depending on the contract type, either way can provide financial efficiencies depending on your business strategy. Asset finance can be a practical solution for fledgling and expanding companies, as the asset itself is the key security you need. Some businesses specialise in providing this type of financial product to healthcare industry professionals.
  • Invoice Finance – This will enable you to free up capital by passing your unpaid invoices to another firm, who will immediately release a percentage of its value to you. Look for an invoice finance provider who has worked with businesses similar to yours, as their staff will be more likely to understand your needs.
  • Card Payment Finance – With a clear strategy and understanding of your business it is possible to forecast future sales on Credit and Debit cards and work with lenders who will provide finance with repayments based on those sales. A business loan with repayments payable on a % of sales allows you to flex with your actual revenues which really supports your strategies.
  • Mortgages – If you want to buy your own premises or expand your practice, you could take out a commercial mortgage. Many conventional lenders offer business mortgages, but it's worth looking for a provider that has specialist knowledge of the healthcare sector.

Choosing The Right Healthcare Funding Solution For Your Company

Finding a suitable lender and lending instrument for your business can be a difficult and time-consuming task. We can provide you with impartial advice and compare products for you. You’ll also find more information about the various funding options available in our free Healthcare Sector: Finance & Funding Guide.

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Topics: Asset Finance, Finance for The Healthcare Sector, Business Finance

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