Tailor-made finance solution for pharmacy refurbishment
The customer is a long-established company that has been operating dispensing pharmacies in and around London since 1998, and over the years has built a strong reputation for providing essential healthcare services to the community.
With increased competition – who were also working out of more modern buildings – the owners understood that to maintain their competitive edge, they would need to completely refurbish their own premises.
Challenge
The company identified several areas that required an upgrade, including the installation of new internal shop fittings, specialist dispensing units and counters. Additionally, the refurbishment plan included the creation of a new consultation and treatment room, as well as the installation of internal signage, new flooring, and plumbing.
With the estimated cost for the project estimated to be in the region of £130K, the firm needed to ensure their cash flow remained stable while undertaking the necessary upgrades.
Solution
Recognising the importance of this refurbishment project, the team at Braemar Finance worked to provide a tailored financial solution that met our customer’s multiple requirements. By spending time understanding the customer’s specific needs and the full scope of the refurbishment, we proposed a Business Loan facility that would cover the entire cost of the project.
The finance option was structured as a Business Loan of £130K, spread over a seven-year term. This would inject the necessary capital into the business at a critical time, meaning the customer could proceed with the refurbishment without disrupting their financial stability.
Result
The bespoke finance package proved to be the perfect solution for the customer. With the finance secured, the company could proceed with the refurbishment project with confidence and peace of mind. Spreading the cost over the seven-year term ensured the customer could manage their cash flow effectively.
Linda Wickens, Area Sales Manager for Braemar Finance, commented: “This successful collaboration highlights the importance of understanding the unique needs of a business, and by providing a flexible solution, we were able to support the customers growth and development. I am very much looking forward to seeing what the practice will look like after its refurb.”
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