• PRACTICE FINANCE

    commercial finance

Encompassing health, medical and paper practices, PFC arranges funding specifically targeted to this dynamic business sector.

With unrivalled access to professions funding partners, PFC works closely with its clients to identify financial packages they may not have considered, but fit seamlessly into their operations. Whether tailored credit lines for personal injury law firms, bullet loans for architect practices investing in property projects or stock finance for medical practices, PFC offers extensive, bespoke and flexible credit facilities to client businesses.

Most of our team have retained their professions client portfolio for more than a decade.

In this time, they have addressed short term funding for professional indemnity, professional body practising certificates, self-assessment, partnership and corporation tax bills, and more recently spreading the cost of quarterly VAT returns.

Much of our asset finance for professional practices is conducted within the health and medical sector, equipment as diverse as dental surgery equipment to retinal cameras, but we are also tasked by our clients to arrange funding for softer assets, such as IT, office furniture and software packages.

Large or medium sized practices often need to invest in IT infrastructure or equipment to retain their competitive edge; however such acquisitions can mean a sizeable outlay in capital, and can be a daunting prospect for the purchaser. Spreading the cost of these roll outs on 3 to 5 year repayment terms, securing the investment against asset finance (normally Finance Lease), can be an essential benefit to cashflow and taxation efficiencies.

Rates for asset based lending within the professions sector can start as low as 2.5% flat.

Longer term purposes, such as junior partners in firms looking to increase equity, or retiring partners searching for methods of funding to enable their exit strategy, can be underwritten on 10 year repayment terms, with structured credit on an unsecured or secured basis, or sometimes a combination of both.

Our professions clients keep coming back for our fast, flexible and reliable financing.

Testimonial

Our business was looking to make a number of changes in regards to our offices, locations and capabilities. Traditional banking options had always been cumbersome, laborious and slow.

We discussed our needs with PFC and immediately felt in safe and capable hands. It was clear straight away that they had a great level of expertise and knowledge of the market and gave us the various options to consider and the necessary advice on each.

The approach was friendly, but professional, in fact after years of dealings with various financial institutions and funders, I would not hesitate in saying that they stood head and shoulders above the rest. If anyone was considering funding options then for me PFC would be the first number to ring…

Mr S. Solicitor, England

Why not get in touch to discuss how PFC could help you?

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Terms and Conditions

Who we are – PFC Finance and Practice Finance Company are a trading style of The Practice Loan Company PLC. The Practice Loan Company

PLC is a credit broker and arranges finance through a panel of lenders.

Regulation – we are authorised and regulated by the Financial Conduct Authority for the provision of consumer credit activities (FRN 727115).

Please be aware that business and commercial lending falls outside regulated activity and does not provide the same level of protection.

Trading styles – The Practice Loan Company PLC has the following companies as trading styles:

• Professions Practice Finance

• Business Loan Company

• Practice Finance Company (PFC Finance)

• The Personal Loan Company

We are registered at Companies House number 03767146.

Product design – We use a panel of lenders to find our customers the most suitable solution to meet their requirements. Our panel of lenders is representative of the whole market and we will only use lenders who are authorised and regulated by the Financial Conduct Authority.

Marketing and promotions – We hope that you find the information in our promotions informative and useful to you. We review our promotions in line with regulatory requirements to ensure they are clear, fair and not misleading.

Our sales process – is designed to gather information from you to help us find the best lender solution to meet your needs. We gather information to ensure the product is both affordable and suitable for you. All of our account managers are experienced and trained to provide a service in line with our objective to be ‘totally customer focused’ and deliver a service that you will want to come back to us in the future. Currently, between 60% and 70% of customers return to us.

Application process, fees and charges – Throughout the sales process we will endeavor to provide information on our services, the lenders products and all fees and charges. We do not charge fees for arranging your finance; we only receive remuneration from our lenders for introducing you the customer to them. We will always be on hand to provide any guidance or support you need from start to completion of your funding and after your funding has concluded.

Provision of service – The lenders offer will be sent to you with their terms and conditions, please read these documents and if we can be of any assistance in clarifying any points please let us know. Remember you can withdraw from these arrangements at any time until completion and in the case of regulated lending there is a 14 day cooling off period.

Underwriting – The information you provide us helps us to arrange the most suitable products from the lenders criteria. We do need full information because information found by the lender may lead to declines and delays in the process, meaning we need to go to other lenders who may not have such favorable terms.

Monitoring – We continually monitor our business looking at ways to improve the service. This is part of our obligations to put customers at the heart of our proposition.

Culture – We are committed to providing the best possible service to our customers and try to meet your expectations. Sometimes we may fail to achieve the outcomes that you expect, in these cases we have complaints handling procedures in place to investigate and respond in line with regulatory guidelines. Please see the separate complaints handling policy for further information.

Replacement Business – We always endeavour to find a suitable solution to meet your funding needs. In some cases you may want to cancel existing arrangements and replace them with new finance. Please be aware that this may not always be best practice because over the longer term you may pay more interest. In these cases we will bring this to your attention by writing to you and keeping you fully informed.

Correspondence – Trading address and registered address.

The Practice Loan Company PLC trading address is as follows:
5-6 The Mews
Trent Business Centre
Trent Park
Eastern Avenue
Staffordshire
WS 13 6RR

The registered address is as follows:

No5 The Mews
Trent Business Centre
Trent Park
Eastern Avenue
Staffordshire
WS 13 6RR

Complaints

If you wish to register a complaint, please write to or telephone us on

The Practice Loan Company PLC, Unit 5-6 The Mews, Trent Business Centre, Trent Park, Eastern Avenue, Lichfield, Staffordshire, WS13 6RR.

By telephone on: 0800 328 0161

By e-mail on: enquiries@practiceloancompany.co.uk

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on the website

or by request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at

www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.