Case studies

Finance Fast:

Mr T contacted Performance Finance in 2006 to secure finance to set up his own NHS practice with six surgeries.

He chose Performance Finance because of its presence in the market place and its reputation for providing expert advice and competitive finance for healthcare professionals. 

Within 24 hours of the initial meeting, a £300,000 credit line facility was in place to provide Mr T with both flexibility and comfort.

Mr T purchased six surgeries, digital imaging and a fully integrated practice management system.

In total, he borrowed £230,000+ VAT across five different banks and only paid interest on this sum.

Performance Finance secured Mr T competitive funds and allowed draw down of 8 separate tranches to pay suppliers on time and keep the project moving within the tight time frame required.

In less than a week, Mr T, started renovating a former JJB Sports Outlet and building his own practice thanks to the swift response of Performance Finance.  

Performance Finance saves the day:

A dentist with 15 years experience wished to purchase his first practice. The purchase price including the freehold was £1.1m and his bank was able to offer £1m secured by a charge over the practice and his home.

After £20,000 personal cash the client was still £80,000 short and in danger of losing the practice altogether.

After a recommendation from the same bank the dentist contacted Performance Finance. We provided the £80,000 required over a 5 year term completely unsecured.

This complimented the bank funding and helped complete an otherwise fragile transaction.

Sound Advice:

An optician who purchased a run down practice turned to Performance Finance on the recommendation an equipment supplier.

Being new to finance she needed to be comfortable she was getting the best advice and referred everything back to her accountant. He confirmed the facilities we offered would maximise tax allowances and were also very competitive.

We subsequently provided finance for sight test equipment, a shopfit and I.T. system.

After a successful launch, 10 months later she returned to Performance Finance to assist with finance for a fundus camera.

Attention to Detail:

An experienced dentist who was setting up a new practice chose Performance Finance after speaking to several other specialist finance companies.

The requirement covered several suppliers all with differing payment terms. Due to our flexible approach and attention to detail, we ensured all deposits were paid on time. This allowed all installations to complete smoothly.

In total, we provided £210,000 of funding together with a 3 month payment holiday to enable the client to start generating an income before payments commenced.

Performance Finance races to pole position

The practice manager of a large veterinary practice was confronted by a situation in which she needed to raise funds for the practice, quickly and in the most efficient way. She had spoken to several funders but was confused by conflicting advice that was difficult to understand.

She contacted Performance Finance and explained her situation. An appointment was made for Performance Finance to visit her and to discuss the circumstances. From the conversation it was apparent that a practice loan facility would be the best facility for them to enable them to carry out the necessary work and to have the funds transferred to them to meet the timescale that they were working to.

All the information required was obtained at the time of the visit and within 24 hours a facility of £23,000 over 2 term was arranged. A subsequent visit to the practice was made the following day in order to complete the documentation and the funds were in the practices account within 24 hours. The practice was grateful for the clear advice and the speedy response from Performance Finance.

Turning Dreams into Reality

An established optician’s with two branches wanted to refurbish the older of their two practices in order to give it a more modern appearance. They also wanted to install new testing equipment in their second practice, but were concerned that their budget would not enable them to do both

After initial discussions over the phone a meeting was arranged at a location and time convenient to the partners. At the meeting Performance Finance explained to them the benefits of a leasing facility for the shop fitting; how it would enhance their tax position, allow them to pay from cash flow and protect their Vat deminimus position.

Performance Finance arranged a facility of £30,000 to fund the refurbishment .It proved to be a great success and the practice experienced an immediate increase in business. This was the partner’s first experience of leasing and they saw at once its benefits. Following on from their experience and the ease in which the transaction was completed Performance Finance was then asked to arrange a facility of £12,000 for new testing equipment for their second practice.