How to Apply for a Loan Guarantee
When you apply for a pharmacy loan, we ask that you complete a simple application form and submit that to us together with some basic financial information. Using our own financial assessment model, we will prepare a cash flow and profit and loss projection for the first 3 years and establish a security value for the goodwill of the pharmacies already owned or being acquired and which will form part of the security for the advance.
This process has proved to be a very accurate guide as to whether a proposal is likely to succeed or not and has helped ensure that the rate of business failure of AAH supported loans has been extremely low. Upon receipt of all the relevant information we will normally be in a position to discuss the merits of the application within seven days and to provide an indication of our level of support. The actual time taken to fully complete the transaction will depend upon many factors including the willingness of the vendor and his professional advisors but normally a period of between 6 – 8 weeks from agreeing the sale will be sufficient time.
Unfortunately, it will sometimes be the case that we cannot agree with agents valuations or vendors expectations when assessing proposals but we make no apology for this. Our method of valuation is based on the profitability of the business as evidenced by the financial information available and assuming a realistic rate of growth and financial return.
There are many questions to ask when you are contemplating the purchase of a pharmacy and no matter how thorough you are, there is bound to be something which gets forgotten.
With this in mind, we have designed the attached acquisition questionnaire to help you. This can be printed off and sent to the vendor with a request that they complete it and return it to you. Whilst all the questions may not be relevant to every situation, we believe that it covers most of the important areas of which you need to be aware, when making such a large financial commitment.
When you apply for a loan, it would be helpful for a copy of the questionnaire to be submitted together with the loan application form and other information.
Please ensure that all parties sign both the form itself and the bank disclosure authority and send to:
Statim Finance Limited,
Sapphire Court,
Paradise Way,
Walsgrave Triangle.
Coventry CV2 2TX
Accompanied by the following additional information:
|
3 years historical accounts for existing and new businesses |
|
|
12 months NHS returns for existing and new businesses |
|
|
Map of the area with target business, other pharmacies & doctors marked |
|
|
6 months existing wholesaler statements (not required from existing AAH customers) |
|
|
Certificate of Incorporation (limited companies only) |
N.B. Please ensure that all relevant sections are completed and that the enclosures above are attached. Failure to provide all information may delay the processing of the application.
