Their challenge

Expanding your pharmacy portfolio requires fast access to capital, both for the acquisition and the set-up cost of the new premises. While banks play a role, their funding limit creates barriers for many looking to purchase additional locations. 

“The bank will lend to 80% of the valuation and then the rest you’ve got to fund yourself. I do have money I could use, but most of it is tied up in other investments.” 

And so, relying on personal savings or traditional borrowing alone, can slow down growth by acquisition strategies.  

At the same time, this manager was exploring ways that the banner group could help its members acquire pharmacies without having to put down cash up front. 

“What we wanted was a model where members didn’t have to finance any of it themselves. We were looking for a way members could join without the need for cash up front, we would then manage the store for them and away we go.” 

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Our solution

It was during this research that the group came across TradeBridge. 

"I liked the way TradeBridge did it, it was nice and simple compared to others I have seen. The process of setting up the facility was refreshingly straightforward too. All I needed to do was provide PBS reports initially, and then every month.”  

Stand outs from the research were that the facility is directly linked to PBS receipts — something every pharmacy owner understands and works with daily. And importantly, that the funding is for any use and so can be used for acquisitions, modernisation, investing in technologies or additional services or to manage cashflow.   

Through TradeBridge’s innovative alternative financing this owner was able to secure additional funding to put towards acquisitions (up to ten times his weekly PBS receipts), with transparent fees and a simple, streamlined application – so he had a decision and a funding limit in days, not months. 

“TradeBridge don't need to ask multiple questions on how the business operates. With over 1,000 pharmacies funded across Australia and the UK, they understand the industry and the PBS cashflow process.” 

• More funding than other lenders
  (up to 10X weekly PBS income)
• Pharmacy specialists who understand
  your business
• Quick decisions so you can move at pace
• Flexible credit line with no set repayments
• Only pay for the finance you use