Does your funding provider live up to your expectations?

While working capital has traditionally been tricky to access, the days of long admin-intensive funding procedures have passed. Here is what WELL by Merchant Capital believes you should expect from your funding provider.

Quick turnaround times

In your business, time is precious. Say goodbye to loan applications that take weeks on end to give you an answer. Cutting-edge technology and strategic partnerships mean that your working capital provider should give you an offer in under 48 hours.

Minimal or no paperwork

This is possible through strategic partnerships that benefit you as a practice owner. WELL by Merchant Capital works with data and algorithms to create a working capital offer that is tailored to your business. This is done by analysing your practice's historical Discovery claims data and credit profile. This info is accessed with your permission, but you don't need to submit any paperwork. The only thing you need to do is submit an online application form and wait for your offer.

Flexible repayments

Your turnover is rarely the same every week. Your funding provider should allow you to repay your facility in line with your turnover instead of having fixed repayments that could negatively impact your cash flow. This means that when your practice's business is slow, your repayments are lower. When your practice is busy, you repay your funding facility that much faster. It's what we call Pay-As-You-Practice finance.

Use your funding as you see fit

You know exactly what your practice needs to grow. This is why your funding provider shouldn't tell you how to use your working capital. Whether you want to buy new equipment, renovate or simply cover operating expenses, your funding is yours to use however you feel will best benefit your practice.

Personalised service if you need it

Accessing funding should be flexible. You should be able to apply online in your down time or speak to a helpful consultant. At the end of the day, you need to feel comfortable with what to expect when taking on funding. Your working capital provider needs to be available to show you the ropes and make that happen.

Free to apply

Your application should be free, with no obligation to take the funds if you are approved. Your only expense should be the cost of funding associated with taking on the working capital. This should be a fixed cost that won't fluctuate like an interest rate.

The bottom line

Your time is valuable, and you want to deal with providers that understand this. If you would like to enjoy the gold standard of finance to grow your healthcare practice, apply for WELL by Merchant Capital. Apply directly through Discovery HealthID today.

Neither Discovery Health nor any of the medical schemes under our administration have any financial interest in Merchant Capital or any of its products.