Dr Richard, a Melbourne based GP with over a decade of experience, recently reached a pivotal point in his career. After years of working within an established practice, he was ready to take the next step of opening his own medical clinic. He envisioned a purpose built space where he could expand services, bring on additional GPs, and create a truly integrated health hub by including allied health professionals such as physiotherapists and psychologists.
At the same time, Dr Richard also wanted to review his personal financial situation. He had accumulated good savings and owned a home in the inner suburbs valued at $1.94 million but felt his current loan structure wasn’t working in his favour. With interest rates still high and greater clarity now emerging in the market, he wanted to explore refinancing options to ensure he was making the most of his position.
What he was seeking:
- Finance to purchase a decent sized commercial property in Melbourne suitable for a multi-practitioner medical practice.
- Guidance on structuring the loan for the new business to allow future flexibility for fit-out and growth.
- Advice on bringing in other doctors and allied health providers to share the workload and expand services.
- A full review of his residential lending to determine if his current rate and loan setup was still competitive.
Outcome – how Allfin has helped:
Dr Richard engaged Allfin to support both his personal and professional finance goals. With our experience in healthcare finance, we were able to secure competitive commercial lending for his purchase of a large medical site, structured with future fit-out and working capital needs in mind. We also provided advice on the optimal ownership and lending structure, factoring in his personal income, business goals, and potential partnerships with other practitioners.
Additionally, we collaborated with his accountant and legal advisers to ensure the clinic setup allowed for future equity growth and succession planning and finally, we refinanced his home loan, delivering significant interest savings while releasing equity that could be used toward the clinic investment.
Dr Richard is now in the process of acquiring a purpose built commercial space in Melbourne, with plans to launch the new clinic within the next 6- 9 months. He has already identified two additional GPs and an allied health team who will come on board as part of the expansion. On the personal front, his home loan is now better structured, saving thousands in interest and improving his cash flow as he steps into practice ownership.
What Dr Richard said, “I knew I wanted to take the leap, but I didn’t know where to start financially. The team at Allfin made the whole process clear, structured, and strategic. They weren’t just there to get me a loan; they helped set up my clinic for success while also ensuring my personal finances were in the best shape possible.”
Interested to know how we can support your needs? Reach out to the Allfin team.