When a business wants to grow there are often a variety of obstacles to overcome. The biggest is typically establishing exactly how to fund the expansion; whether the business is looking to increase their revenue, their physical premises, or both.
In June, United Trust Bank was able to assist a small firm of General Practitioners with this very issue. The practice provides locum services to their local area and, as an NHS surgery, they were predictably oversubscribed with a very pressing requirement to build additional consultation rooms to cope with the increasing numbers of patients. The practice had a large and mostly unused loft which they were keen to convert into more useful consulting rooms, with the intention being that the extra space would be able to ease waiting times and generate
additional income once operational.
As they are a small, but well-managed NHS clinic with a relatively stable source of income, UTB were able to provide a swift approval for the basic costs of the conversion over the term requested.
The Professional Loans team frequently receive requests for this type of funding and we are more than happy to consider any proposal from a capable business looking to expand.
Loan Amount: £60,000