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PUBLISHED ON: 19/04/2023

Commercial finance for healthcare businesses

Healthcare is a vital sector for local communities and the UK as a whole, supporting delivery improvements and tackling health inequalities across a wide range of settings. Medical research and development are integral to our future well-being and ability to withstand existing illnesses and the new viruses that will inevitably emerge in the coming years.

Medical service providers, drug and medical equipment manufacturers, and all other healthcare-related businesses need specific types of funding, however, to support this work and deliver high-quality services.

UK Business Finance helps businesses in the healthcare sector to access the funding they need. We are commercial finance brokers, rather than lenders, and can provide the financial expertise to source the most suitable deals.

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With full market access and absolutely no ties to any lender, we can objectively match you with the most effective and cost-efficient source of business finance. Contact our team today!

Challenges facing the healthcare sector

Post-pandemic issues
Healthcare providers are still dealing with the aftermath of Covid-19 and face a range of challenges in their day-to-day business operations. Significant physical and mental health treatment backlogs continue to cause frustration.

Staff shortages
Staff burnout following the pandemic, plus a loss of staff after Brexit, is placing ever more pressure on existing personnel in the healthcare sector. Recruitment, high-quality training, and staff retention are costly, and a drain on already pressured working capital.

Administrative overload
Technology may be the answer to excessive administration in the healthcare sector, but businesses will have to invest to overcome this onerous issue. Whilst larger companies may have the capital to do so, small firms could struggle to finance AI and other technologies that would offer them a solid digital infrastructure.

Finding funding for healthcare businesses

Our team of commercial finance brokers will help you source the right type of finance for your needs, and find the best deals through a whole market search. We know the criteria of all UK lenders, and our services are free of charge.

Your healthcare business might benefit from equipment finance or asset refinance, for instance, or supply chain funding to ease the order, delivery, and payment of goods.

Commercial finance for the healthcare sector

Equipment financing
If you need to purchase an expensive hard asset, such as a piece of equipment, you do not need to use up valuable capital. Your business can use equipment financing to purchase the item. This might be via a hire purchase agreement that facilitates ownership at the end of the contract, or perhaps an equipment lease if ownership is not required.

Asset refinance
Asset refinance involves using an existing asset to unlock working capital. The business receives a cash lump sum from the lender, who leases the item back over a fixed instalment agreement. When the contract ends, the business becomes the legal owner of the asset again.

Supply chain finance
Supply chain finance can benefit suppliers and their larger clients and involves early payment of supplier invoices by the financier. The client then pays the lender, but enjoys an extended payment period, which helps their cash flow.

How to apply for commercial business finance

By using a commercial finance broker that is experienced in your sector, you can quickly access the most appropriate type of funding for your healthcare business. UK Business Finance will conduct a whole-of-the-market search to find the best deals.

We offer quotes on unsecured loans, secured loans, invoice finance, asset finance, vehicle finance, and commercial mortgages. Please get in touch to find out more about the best funding for your business.

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We work across a wide range of sectors throughout the UK, providing specialist advice to each sector.