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How do Business Loans work?
Business Loans, also known as practice loans, are used to fund investment when you need it and can be used for various purposes, including buying into or starting up a new business, a renovation or simply to cover multiple overheads.
Who are Business Loans for?
This product is suitable for those who need the funding to start, grow or manage their business.
It’s often used to fund intangible investments, like training, professional development, and energy efficiency.
Benefits of a Business Loan:
- Access to capital: It can provide essential funds needed to help your business achieve its objectives, without depleting their cash reserves
- Business growth: With additional funds, you can invest in your business to drive growth and increase profitability
- Manage cash flow: Lets you spread the cost of large expenses into more manageable fixed monthly payments, allowing you to budget effectively
- Flexibility: Repayment terms can be tailored to suit your individual circumstances
NHS clawbacks
Our specialist healthcare finance solutions are designed to help medical professionals manage clawback liabilities into manageable monthly costs, protecting your working capital and give your practice the breathing space it needs to stay focused on patient care.
NHS clawbacks typically arise when a practice is deemed not to have met the activity or performance requirements set out in its NHS contract, most commonly through under‑delivery of UDAs in dentistry or failure to achieve targets linked to QOF or locally commissioned services in general practice.
Workforce shortages, recruitment challenges, sickness, or unexpected staff departures can limit capacity and contribute to shortfalls, as can missed appointments or reduced patient demand. Clawbacks may also result from administrative or reporting errors, changes to contracts, or retrospective reviews by the NHS.
An example of how a Business Loan can work for you...
It will enable you to purchase multiple elements required from new windows and doors to IT equipment and furniture, under one agreement.
How to apply for a Business Loan
Simply tell us how much you wish to borrow, the purpose of the loan and the term you prefer. No deposit is required, and the loan will be tailored to suit you with fixed payments over an agreed term.
With our in-house specialist underwriters providing quick decisions the funds will be paid by Faster Payments into your bank account within an agreed time.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
If you miss or expect to miss a repayment under your business loan agreement, please get in touch with us straight away to discuss it with our team.
The risks of missing a repayment under your loan agreement are that we may:
- Cancel our agreement with you and require you to repay the full amount of the loan immediately
- Disclose information about your loan to the credit reference agencies
- Set off any amounts you owe us under the agreement against any funds you hold with us in other accounts
- Take enforcement action against you to recover any amounts you still owe if necessary
- Restrict your access to any other credit facilities you have with us and require you to immediately repay those facilities
