Hospitals, Surgeries and Clinics
Private practice or NHS support, providing medical facilities requires investment.
- Spread costs over 6-60 months
- Rates from 6%
- Undercut ’0%’ deals from equipment suppliers
- Balloon payment options - reduce monthly outgoings
- No capital requirement
- Acquire any type of equipment
- Asset refinance available
- No upfront capital costs
- Secured lending - from 2% above base rate
- Raising funds with a commercial mortgage 2% above base rate
- ‘Jigsaw’ funding
- Practice Loans
Talk to Rangewell – the business finance expertsMany lenders can provide funding solutions for your hospital, surgery or clinic, but the right funding and the right costs are essential. At Rangewell we cover the entire market our expertise and contacts let us help you find the most competitive funding for your plans.
The healthcare sector is changing fast.With private healthcare becoming more popular and even the NHS calling on private sector facilities, there is a growing demand for private hospitals, surgeries and clinics. To answer this need, and enjoy significant rewards, you need to be able to call on high levels of finance.
At Rangewell, we understand the needs of the private healthcare. We are committed to helping businesses in the healthcare sector find the financial solutions they need to provide outstanding facilities at every level, from surgeries and clinics to full private hospitals.
We work with healthcare companies across many sectors, and help find funding solutions for:
- Hospitals and hospital-affiliated clinics
- GP practices
- Surgery centres
- Cosmetic surgery facilities
Funding options for private hospitals, surgeries and clinics
As experts in all aspects of business funding, we can work with you to find the right type of funding option to:
- Buy premises
- Build specialist facilities
- Provide equipment and assets
- Provide operating finance
Buying medical premises
Medical facilities can be provided in many types of location. A surgery or walk-in clinic may operate from dedicated premises or even a suite in a shared block in a town centre. A private hospital may be better suited to premises that stand in their own grounds in a semi-rural location.
Most will require parking and public transport nearby.
These types of premises may require substantial investment. We can provide a number of solutions to put the necessary investment in reach.
Many types of property may be acquired through a long-term lease. Arranging a suitable lease may mean a large initial payment - we can help find lenders who can provide the necessary lump sums, as a Secured or Unsecured loan.
Buying suitable property for your medical facility can provide an important asset for your business, and with the right arrangements may be arranged at monthly costs comparable to those of a lease
A Commercial Mortgage operates much like a residential mortgage. The loan is secured on the property itself and can run for 15 years or more. It can be used to buy land, and existing premises of all types. Unlike a residential mortgage, the rates for a commercial mortgage are arranged on an individual basis. Lenders will look at your financial situation and projections to establish a fair rate. Our knowledge of the lenders and rates available can be essential to achieve a competitive deal.
Find out more about Commercial Mortgages.
Bridging and Auction Finance
Bridging Finance is a short-term finance solution which provides a quick way to finance the purchase of a property. It can be used to secure property suitable for conversion to medical use, as well as existing medical facilities
The lender will take a first charge and will seek repayment once the loan has come to term. It is usual to refinance bridging finance with a mortgage.
Auction Finance is a special type of bridging loan that lets you arrange funding in advance of an auction. Auction Finance can provide both the initial deposit due when the hammer falls, and balance of the hammer price, which most auction houses require within 28 days.
Building specialist medical facilities
Buying run-down property is not possible with conventional mortgage funding. Refurbishment Finance can provide the means to buy and convert property for medical use.
Property Development Finance takes things further, and can provide funding to buy property for conversion or demolition and redevelopment. It is usually only available for experienced developers with a record of success on similar projects, but if your medical business has a professional property team, you may be able to secure funding on the same basis as commercial developers.
Funding can range from single property projects to provide clinics and surgeries to major new hospital developments. Property development finance usually takes the form of a short-term loan and lenders may advance up to 70% of the gross development value.
Find out more about Property Development Finance.
Raise funds with a Commercial Mortgage
If your organisation already owns property, a Commercial Mortgage can also be used to let you select large-scale funding.
By remortgaging an existing property your business can receive a cash lump sum comparable to its market value to use as you wish. So existing clinical premises could be used to raise funds to acquire other property or to provide equipment. You would simply make monthly mortgage repayments until the property becomes yours again.
Find out more about Commercial Mortgages.
Medical equipment costs
The cost of medical equipment has always been high. With high-technology new equipment such as CT suites, MRI scanners and Linear Accelerator Machines (linacs) becoming essential in many clinical settings, your equipment budget may be becoming stretched.
Most medical equipment costs can be covered by Asset Finance. Asset Finance is a blanket term for a variety of Hire Purchase and leasing arrangements, designed to let you spread the cost of equipment. They can provide attractive terms as lenders have their risks reduced by the security of the asset itself.
While the high cost of advanced medical technology makes asset finance an obvious choice for major devices, it can be equally suitable for the provision of routine items such as beds and gurneys.
Hire Purchase - spreading payments
Hire Purchase offers a straightforward way to spread the cost of providing your facilities with the equipment you need. You will need to put down a deposit, usually between 5%-25% of the total price, and repay the remainder, together with the interest, over an agreed period from 6 to 60 months.
You pay a fixed rate of interest and agreed monthly payments, making budgeting simple to align with your monthly turnover.
You may also have the option to structure your payments to fit your projected cash flow. You may be able to arrange smaller monthly repayments by agreeing to pay a final lump sum, known as a balloon payment, at the end of the loan period. This can help you reduce the costs if you are entering a period of planned growth, which you anticipate will provide you with a greater income in the future.
Equipment manufacturers and dealers will often offer HP arrangements during the sales process. These can look very attractive, and can even include 0% options, but these deals often mask hidden costs. You may be able to save money by paying cash, and arranging finance with our help. See how we can help you beat 0% finance deals.
Hire Purchase may be most suitable for items intended for long-term use. Your beds, for example, should be able to provide problem-free service for years to come, and might be a cost-effective choice for HP.
Leasing – avoiding capital costs
With a lease, equipment is owned by the finance company. You hire it for the period of the agreement. It remains their property, avoiding any need for need for capital expenditure from you. Monthly payments are fixed for the duration of the contract, and you can pay for your equipment from the income it generates each month. You may also be able to choose a lease which makes maintenance and repair the responsibility of the finance company.
Leasing may be suitable for high-cost complex equipment which may need to be replaced when technology moves forward. MRI scanners with costs in the millions are often leased by the facilities that use them.
Operating your surgery, clinic or hospital
Your surgery, clinic or hospital will present a number of operating costs. Skilled staff will need salaries paid, and suppliers invoices will need to be settled even when these may be a temporary cash shortfall.
Operating and growth finance solutions exist to provide the funds you need.
REAL EXAMPLES OF WHAT WE CAN DO
Find the most competitive loan to let a partnership acquire an existing clinic
Arrange funding to equip an MRI suite
Source the most competitive funding for a full refurbishment of a radiography facility
Find the most competitive commercial mortgage for a private hospital
Help a partnership set up a fully fitted operating theatre for cosmetic body procedures
Working Capital Finance
Working Capital Finance is designed to boost the working capital available to a business. It's often used to provide cash to pay staff during the early weeks and months of opening a new medical facility. It is designed to be repaid in the short- to medium-term, once your business has achieved its target profitability.
Our finance experts can help solve your working capital needs.
Large-scale finance can be vital if you have major plans to develop your medical business, such as acquiring a competitor or providing a new form of treatment. Growth Finance is a special type of funding designed to fund your growth plans.
Large quarterly VAT bills or annual tax demands can cause problems with the cash flow of your medical business, particularly when that falls at the same time as other costs.
Tax Loans help you to spread the cost of your tax demands into affordable monthly payments, ensuring that your business does not have to go through cash flow difficulties because of a minor tax liability.
See how a Tax Loan can mean better control of cash flow with fixed monthly payments.
Why you need Rangewell to capitalise your medical business
At Rangewell, we can find the funding you need, whether it is for a single piece of medical equipment, or a multi-million-pound loan to let you build a new hospital.
We know the lenders who can provide the most competitive funding to the sector.
As well as conventional loan products, we can help you find Alternative Funding, using new loan providers and innovative funding solutions.
Whether you have a straightforward, small-scale funding need, or require a complicated ‘Jigsaw’ funding plan made up of a combination of financial products, we can work with you to find the answers
Call us now to get our experts working for you and your medical business.
What Cosmetic Surgeons say about finding financial solutions with Rangewell
Helping you build your profits
Lending tailored to your needsAt Rangewell we use our expertise to help you find the most appropriate finance for any funding need your medical business presents.
Scalable finance solutionsWe can help you find funding scaled for any need, from individual items to a complete hospital.
Helping you acquire premisesYour facilities must be in the right location for your patients.
Asset FundingAsset funding can provide affordable solutions for virtually any type of medical equipment.
Helping you provide the best treatmentYou must have the best equipment to provide the best treatment for patients. We can help you find finance you need.
Specialist lendersAt Rangewell, we can help you find the most appropriate lenders for your medical business.
Download Rangewell’s free and detailed guide to Finance for the Medical Profession
What types of finance are there - which do you need?
Why not all providers are equal - finding the one that’s right for you
The downsides to finance - and how to avoid them
How to arrange finance - what paperwork do you need?
Key terms explained
Getting the right funding arrangement is essentialThere are many forms of business finance available. Getting the most appropriate type for the business needs of your practice is essential.
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.
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.