Medifinance is a finance broker who has been providing financial solutions to the UK Healthcare market and has worked with health professions for more than 40 years. They offer a range of financial services including equipment finance.
Meeting service demand
Covid-19 placed huge pressure on the NHS and created a backlog of patients that require transport to and from hospital, as a result demand increased rapidly for transport services. Medifinance has a customer who specialise in patient transport services and to meet demand the business required additional financial backing to purchase additional vehicles to meet growing contracts.
After introducing their customer, Medifinance worked with Close Brothers Business Finance to find a suitable financial solution. A Hire Purchase agreement was proposed to help their customer purchase new converted vehicles which enabled them to service their new and existing contracts.
The agreement was paid out in a timely manner which allowed the customer to purchase the ambulances quickly without compromising their cashflow resulting in an increased revenue and profit. The customer was extremely satisfied with the outcome as they were able to meet the increase in demand.
Medifinance commented “Working in partnership with Close Brothers Business Finance allows us to provide sustainable financial solutions to our customers – as we worked together; we have helped our customer meet the demand for their service with little disruption to their day-to-day activities.”
Karen Fryer, Broker Development Manager from Close Brothers Business Finance said, “We are able to help businesses respond quickly and confidently to market changes – this case demonstrates the perfect example of how we can work with Brokers to offer quick decisions on lending and straight forward finance options.”