Funding for chiropractors to buy a competitor
- Release wealth from your existing practice
- Cost-effective and tax efficient
- Flexible arrangements
- Use for any purpose
- From 2% above base rate
- Up to 25 years terms
- Interest-only or capital repayment
- Buy premises or existing business
- Unsecured lending from 6%
- Up to 5 years to repay
- Secured lending from 2% above base rate
- Long repayment terms
Are you chiropractor running a successful practice? How can you take it to the next level? The solution could be to acquire a competitor.
Buying a competitor could expand grow your patient list and increase turnover, but the costs could be in the order of hundreds of thousands of pounds, especially if the chiropractor you are buying owns the premises they work from. At Rangewell, we can help you find the funding you need with a range of solutions.
A Goodwill Loan could release the value in your existing chiropractic business
A Goodwill Loan, also known as a Capital Withdrawal Loan or Cash Out, can let you access the value in your business without withdrawing funds from it.
It lets you use the goodwill built up in your practice as the security for a loan. It can bring you a sum comparable to your annual turnover, probably in excess of £250,000, with repayment terms of up to 15 years.
Commercial Mortgages - using the value of your property
Remortgaging your premises could provide a high level of funding - enough to buy a competitor. Commercial Mortgages work much like a residential mortgage, and can be used to provide a high level of funding - lenders have a minimum loan value of £75,000 or more, but there is no set upper limit. Rates and terms will be agreed based on your business plans.
Borrowing with a Commercial Loan
There are two types of Commercial Loan:
Secured Loans can provide a high level of funding, with rates that can be as low as 2% above base rate, and ten or more years to repay.
Unsecured business loans operate much like a personal loan and are suitable for smaller sums, up to £250,000, but often far less. The loan is repaid in monthly or quarterly instalments over an agreed term under 5 years.
‘Jigsaw’ Finance designed around your chiropractic business
Acquiring a competitor may mean a range of funding requirements. We can provide Jigsaw Funding - a bespoke package made up of the most appropriate type of funding for each purpose.
REAL EXAMPLES OF WHAT WE CAN DO
Help arrange a 100% loan for a chiropractor, as the basis of an acquisition plan
Find a lender to provide a commercial mortgage to acquire a business
Help arrange jigsaw funding for every stage of a chiropractors acquisition
Work with a chiropractor to find the most effective source of funding
The finance you need to buy a competitor
Many lenders will be happy to work with you - but not all will be able to offer the most competitive solutions.
At Rangewell, we know lenders that can. But we don’t stop there. We will work with you to understand your business plans and use our expertise to help find the funding that meets your needs. We can find the most competitive rates for all types of finance, including Professional Loans, Unsecured and Secured Loans, Invoice Finance, Asset Finance, Merchant Cash Advance, Commercial Mortgages, Growth Finance and more.
For answers on the finance you need to buy a competitor, simply call us.
Helping you build your profits
Funding tailored to your needsFunding can be drawn together from several sources and tailored to your needs.
Funding that recognises your statusAs a professional chiropractor with your own practice, you may be able to enjoy preferential rates for borrowing.
No need for extra security with Goodwill LoansGoodwill Loans are secured on the future performance of your practice - there is no need to put your assets or possessions at risk.
Covering all the costs with jigsaw fundingWe can help you arrange bespoke funding tailored around your needs.
Early repayment optionsSome loan providers will accept early repayments, reducing the total cost of your borrowing.
Cutting borrowing costsAt Rangewell we search the entire UK lending market to find the most appropriate solutions for your funding needs, helping you reduce the costs of your expansion plans.
Download Rangewell’s free and detailed guide to Finance for the Medical Profession
What types of finance are there - which do you need for your chiropractic practice?
The types of funding available, including for working capital, equipment, tax, growth, buy-ins and premises
What financing options are available to chiropractors in terms of equipment financing and equipment leasing?
Why not all providers are equal - finding the one that’s right for you
Is it important to use a lender who is authorised and regulated by the financial`conduct authority?
The downsides to finance - and how to avoid them
How we can provide an additional income stream
How to arrange finance - what paperwork do you need?
What to expect with monthly payments
Key terms explained
Please click to download our free e-book on finding finance for chiropractors
Getting the right funding arrangement is essentialThere are many forms of business finance available. Getting the most appropriate type for your particular needs is essential to avoid excessive costs.
Your key equipment could be at riskIf you are unable to keep up repayments on a Hire Purchase or lease agreement, the equipment your practice depends on could be could be at risk.
Long-term financial commitmentsYou may not be able to pull out of a finance arrangement once set up. This could present a problem if your practice changes direction or if technology moves on rapidly.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.