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AuthorMark ChurchillDateJanurary 2024Share

Our client, an existing client of Bank A for over two decades, approached the bank seeking financial assistance to acquire a pharmacy premises that unexpectedly became available in a single-pharmacy suburb.

Our Approach:

Allfin, known for its agility, assessed the transaction within 24 hours. Recognising the low Loan-to-Value Ratio (LVR) of the pharmacy, we anticipated an easy approval from the incumbent Bank A. Within the same timeframe, we promptly lodged the application with Bank A.


Despite the 20-year relationship and a seemingly straightforward application, Bank A did not support the pharmacy owner’s acquisition of their premises, despite it being cashflow neutral. Efforts to escalate the application within Bank A’s senior management proved futile.

Exploring Alternatives:

Determined to find a solution, we tendered the client’s banking needs to three other major Australian banks. Bank B and C were supportive of the transaction, paving the way for a potential resolution.

New Opportunity:

During negotiations, our client discovered a unique opportunity – an extraordinary pharmacy acquisition in an outer suburb, where only one pharmacy was permitted. Valued at $4 million, Allfin swiftly assessed the application, believing the pharmacist had the security and cashflow for successful financing. A revised application was promptly lodged with Bank B and C.


While Bank B hesitated to provide a definitive commitment, Bank C wholeheartedly approved the entire transaction, refinancing from Bank A after 20 years, financing the property acquisition, and supporting the new pharmacy acquisition. Our client, armed with the peace of mind we provided, was able to secure the pharmacy at short notice, preventing it from going off the market.

Three years later, our client has exponentially increased sales and profitability in the acquired pharmacy. Our ability to deliver a rapid finance approval, backed by our in-depth industry knowledge and over 100 years of commercial pharmacy banking experience, played a pivotal role in this success.

Ready to make your move? Contact the Allfin team today to talk about your options.

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Mark Churchill is a Credit Representative (Credit Representative Number 401139) of BLSSA Pty Ltd (Australian Credit Licence Number 391237). Diem Le is a Credit Representative (Credit Representative Number 483969) of BLSSA Pty Ltd (Australian Credit Licence Number 391237).