Bespoke healthcare solutions for your medico customers
CommBank has created sector-specific solutions for health care that could help brokers better service these customers’ needs.
Streamlined approvals for medical fit-outs
CommBank has streamlined its funding process for medical fit-outs and equipment. Medical fixtures and fit-outs are treated as a “standard asset”, making it easier for healthcare businesses to get the equipment they need. It can be as simple for a customer to fund a fit-out as it is for them to get a loan for a car.
CommBank’s StartWell can be used by Healthcare clients looking to expand or update their practice. This option gives customers the ability to choose lower payments during the first two years of the loan to allow time for the business to grow. After that, payments step up to a higher fixed amount over the remaining term.
Customers are able to access the equipment they need to drive growth, but with less initial pressure on their cash flow. They do pay more interest over the full term than with a standard loan but the benefits of the cash flow break can be beneficial.
Green and sustainability finance
Vehicles and equipment
CommBank’s new green asset finance builds on its existing sustainable finance products. Customers can access discounts of up to 1% (100 basis points) off the standard rate for new and used electric or hydrogen powered vehicles. Other qualifying assets – such as renewable energy equipment or batteries – may receive a rate discounted up to 0.5% (50 basis points).
Tailored loans to help balance business and personal commitments
CommBank can assist brokers to create loan structures that meet customers’ needs, no matter how complex. But that requires brokers to drive the conversation with their customers and be informed on the options available so they can match solutions to each customer’s unique requirements.
Keep these points in mind.
- Don’t assume customers are fully across their own financial arrangements.
- Ask needs-based questions.
- Advise customers on the benefits of keeping personal and business finance separate so that their personal assets are protected.
- Explain the flexibility of business lending in particular – for example, balloons at the end of a loan term, or asset finance loans matched to the equipment’s effective life.