Our Services

The Pharmacy Loan Guarantee Scheme is the principal service provided by Statim Finance. Since the scheme was established, we have assisted many pharmacists achieve their dream of owning their own pharmacy.

Subsequently, many have acquired further pharmacies and a number are now sizeable independent chains. Without his help and support over the years, it is quite possible that the independent sector would by now be almost non-existent, as has happened in several other retail areas.

The scheme is available for any genuine pharmacy related purpose in a true partnership between us.

There are numerous other finance related services linked to the Pharmacy Loan Guarantee Scheme including personal and business insurance, accountancy and legal services. Any of the Statim Finance Managers will be pleased to introduce you to lon-standing and trusted professional advisors.

Our Partners

Statim does not actually lend money directly; we facilitate the transaction, liaising with the lender and yourself as appropriate and ultimately underwriting your loan. We have negotiated special terms with our financial partners at rates far below those normally available in the small and medium business market and which provide you with a tangible financial saving and therefore increased profitability in your business. In return we look to you to fully support the AAH group by ensuring that the few obligations imposed under the scheme are met. In this way, the scheme helps to ensure that our strong support of the independent pharmacy sector continues.

Our current lending partners who have an established scheme with us are as follows :-

Alliance & Leicester Bank Plc

Bank of Scotland

Barclays Bank Plc

Clydesdale Bank Plc

Fortis Bank SA/NV

HSBC Bank Plc

Lloyds TSB Bank Plc

Medical Finance Limited

RBS Nat-West Bank Plc

Yorkshire Bank Plc

Confidentiality

We make this a priority. Any information provided to us remains totally confidential so you need have no concerns about discussing your business with us.

Pharmacy Finance

The Loan Guarantee Scheme is available to support the following:

The acquisition of a pharmacy.
The relocation of an existing pharmacy to a new location.
The establishment of a new pharmacy where a new dispensing contract has been granted.
The refitting of a new or existing pharmacy.
The refinancing of existing borrowing from a competitor scheme.
The acquisition of the pharmacy freehold [normally arranged directly with the lender without the need for a loan guarantee].

As a result of the preferential status which AAH customers enjoy with our scheme lenders, the interest margin applicable to a Statim loan is much lower than that which might be available by going to the lender directly. This enables you to increase the profitability of your business through reducing your finance costs.

In return for our financial support, you will be contractually bound to use AAH Pharmaceuticals as your principal supplier and to ensure that you purchase a minimum of 70% of your product requirements from the AAH group of companies. This includes AAH Pharmaceuticals, Enterprise and Trident and is exclusive of VAT and settlement discounts.

At the end of your financial year we will request a copy of your financial accounts and these should be forwarded to us without delay. This is a requirement of our Auditors for all situations where AAH is providing guarantee support, both to ensure that the businesses we support remain profitable and that the spend requirement is being met as the business grows.

The Pharmacy Loan Guarantee Scheme is only successful if both parties derive benefit from the arrangement. Clearly, you have the benefit of cheaper borrowing and the value we add when assessing your proposal, together with any ongoing advice and assistance that we might provide in future for which we do not charge. AAH derives its benefit from the throughput of sales, which at the minimum level set (70% of your projected purchases) provides AAH Pharmaceuticals with a reasonable return for taking on the guarantee risk, whilst still leaving you flexibility to use other suppliers for any remaining purchases.

It is not acceptable to take advantage of the loan scheme and then fail to meet the minimum spend requirement, or the other terms of the scheme. In the event of such a default we may withdraw our financial support from any customer who consistently breaches the scheme conditions.

Summary of our Terms & Conditions

Minimum Loan Size	£25,001 - no maximum
Interest rate:	TBA
Bank fee:	TBA
Statim fee:	Commensurate with the amount of work involved in assessing the loan guarantee application but typically a minimum of £2,000 plus VAT
Legal costs:	For the completion of the necessary security, our lending partners charge standard fees which do vary slightly between lenders but are typically £150/200 per security item.
Period:	Maximum term 10 years except for freehold loans where a guarantee is not required, which can be up to 25 years.
Loan Type:	Capital & Interest repayment loans only. Endowment or Pension backed loans are not permissible where a guarantee is required as they rely upon a bullet repayment at the end of the loan.
Security:	The bank will take security at our request and stipulation.
Amount:	Normally 80% of the project cost. The applicant should introduce 20% of his/her own stake by way of 'free' cash. i.e. savings and not borrowed elsewhere. However, for established customers we will look at the overall gearing of the business, taking into account total borrowings and the updated asset value of the existing business (including goodwill).
Overdraft facility:	Within the auspices of the scheme the Bank should be able to provide upon request, an overdraft facility set at a maximum of 3.5% of annual sales turnover (ex. Vat). The interest rate will usually be at a maximum rate of 2.25% over base rate.
AAH Payment Terms:	All accounts covered by guarantee must trade on 30 days payment terms. In practice this means payment must be received by the last day of the month following the month in which the purchases were made.
Customer Commitment:	Minimum 70% of purchases should be made via the AAH Group of companies (including AAH, Enterprise and Trident).