More than just home loans
Over the last 35 years we've assisted many professional firms in the following areas
We understand that every practice is unique and every partner will have their own aspirations whilst working as part of the team.
As a broker we act on your behalf to find the best solution that suits your needs.
Unlike a banker we're not tied to one set of products and lending guidelines. Our role is to make your practice finance work harder for you - not the bank.
We understand the challenges you face and can assist with all facets of practice finance to help you achieve your collective goals sooner.
Contact us to discuss your finance needs in relation to
Professional practice lending is essentially based on the recurring income streams of the practice. The guidelines will vary with the type of practice and the lender.
The primary consideration is an assessment of recurring income or Future Maintainable Earnings (FME = Earnings Before Income Tax, Depreciation and Amortisation adjusted for partners salaries ) on a historic and future cash flows.
The secondary consideration is Gearing Level Against Turnover - usually up to 60%.
Security - is generally a charge over the practice plus the guarantees of the individual partners (or directors). The guarantees may be joint & several - or limited. In some cases the lender may seek a mortgage over real estate assets. Care should be taken that personal assets (property) are not cross collateralised or captured under all monies clauses.
Business and Personal Servicing must be satisfactory.
Minimum Loan Amounts and repayment terms will vary with the lender.
Usually mandatory that the practice banks with the lender.
Supporting a new equity holder to manage succession within a firm - Most younger staff members within a firm don't have the asset base to buy out an existing partner.
Borrowing capacity calculation - based on futre maintainable earnings.
Supporting funding to acquire other firms
Suporting working capital requirements for legal practices
Facility Provided - $500,000 overdraft.