Are you considering setting up or making improvements to your Practice? We understand the complexities of the task ahead and can help establish the correct facility to make the whole process run as smooth as possible.
We can offer a draw down facility (escrow) while you go through the motions of your renovation or fit out. This means the bank will pay your supplier invoices for you, saving you hassle and time away from your already busy schedule. Funds are progressively drawn down from your established facility.
Drawdowns happen in stages as opposed to paying the entire amount at once, minimising the interest paid. This facility allows you to free up your cash flow. Once improvements are complete, repayments will commence and your loan will convert into an equipment loan.
Benefits of a draw down facility
- Supplier Invoices paid directly by your bank saving you time and hassle
- Flexible repayment options including low start up repayments
- Options for no repayments during drawdown stage to free up cash flow
- Ongoing support from your personal finance consultant who will remain your key point of contact throughout the process.
- Lease, hire purchase, rental or chattel mortgage also available