Healthcare Finance

Financial products designed for the healthcare sector.
Business Finance Team

What is Healthcare finance?

The Healthcare sector is a broad industry, everything from Pharmaceuticals to Care Homes falls under the Healthcare umbrella. Due to this, finance facilities must be dynamic, and tailored to suit your business.

Invoice Finance is a common facility put in place for all types of businesses within healthcare. Invoice Finance allows you to release funds from invoices within 24 hours, eliminating any cashflow issues, and allowing you to run your company smoothly.

Care agencies often use Invoice Finance facilities, as their business is predominantly invoice based. This means that once your invoice is processed, your funds will be released within 24 hours.

An Invoice Finance facility will increase your cashflow greatly, and reduce any financial stress you may have. All other avenues of Commercial Funding are available to those operating within the sector, such as Business Loans, Asset Finance and Trade Finance.

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Eligibility

Turnover

Unless you are a new start-up company, the minimum turnover most lenders will deal with is £250,000.

Trading History

Similarly to Turnover, start-up companies can get funding, however a minimum of 6-12 months trading will give you access to a much more broad range of lenders on our panel.

UK Registered Businesses

Due to us dealing with UK Based Lenders, we can only find funding solutions for UK Registered Businesses.

FAQs

How much will a Healthcare Invoice Finance facility cost?
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The cost of the facility will depend on a few factors. These are essentially decided by what you want from the facility, and how large your business is. Different lenders have different costs & fees that go with the arranging and running of your facility, but the main charges that go with running an Invoice Finance facility are the service fee, which is a percentage of the invoice value, and the discount fee, which is calculated from the amount of money advanced to you.

Am I eligible for a Construction Invoice Finance facility?
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 Eligibility varies largely from lender to lender, with some being more flexible, some more rigid with their criteria. The basic criteria for applying for an Invoice Finance facility is as follows:
- £250k minimum turnover
- UK Registered Business
If you don’t meet this criteria it isn’t the end of the road, other funding options are available, and this can be discussed with one of our consultants.

How long does it take to set up a Healthcare Invoice Finance facility?
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Invoice Finance facilities can be completed in as short as a few days, although the process can take longer. Our aim is always to make the process as quick, and simple as possible.

How much money can I get as a Business Loan?
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Business Loans can vary hugely in amount. With an Unsecured Business Loan, anything between £10,000 and £350,000 can be funded. With a Secured Business Loan, the range can be anything between £25,000 and £2,000,000.

Why Spark Finance?
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We are not your average broker. We strive to find you the perfect funding facility for your business, in the easiest way possible. We designate a member of our team of specialist

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“Spark Finance have been incredibly helpful from start to finish. They helped secure a CBILs package even when many lenders had stopped considering new applications. They've informed us of new developments every step of the way and have helped us through this uncertain time. Nice one, guys!”

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Disclaimer: Spark Finance (Registered office - 18 John Stow House, London, England, EC3A 7JB, Registered Number 13182103) helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Spark Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Spark Finance may receive a commission or finder’s fee for effecting such introductions.
© Spark Finance Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Their reference number is 958123, and you can use that to find them on the FCA register.