Dear Lender,
I have been in business for over 15 years, predominately in the legal industry. I have owned law firms, property development companies and recruitment agencies in the past.
I am moving into the family medical space as I am a firm believer in and strong advocate of, good quality family medical care. My own General Practitioner is the inspiration behind my move to the medical space.
Strathpine GP is a family orientated medical practice. Dr Khan has been seeing patients in the same location for over 30 years. He is now seeing 3rd and 4th generation patients. His patients come from all across North Brisbane.
The practice currently has one GP. My plan is to expand the practice to include a second General Practitioner, psychologist and vaccination clinic. I also intend on moving the practice into the digital space. I will have a website, Facebook page and HealthEngine profile created to allow for online bookings. This will increase the practice's presence as well as turnover.
I am seeking $350,000.00. The money we are requesting from you will go toward the following needs:
- Purchase of the existing practice - $300,000.00
- Expansion - $50,000.00. This includes acquiring more space (tenancy available next to the practice for $20,000.00/year), lease, fitout, marketing etc.
We are asking you for a loan of $350,000.00 to be repaid over ten years at a rate of 10% interest, making payments of $4,625.00 monthly. Our estimates for revenue are an average of $35,847.00 per month. After factoring in staff costs of $26,000 per month and operational costs of $3,000, we are left with enough money to comfortably repay a loan under those terms.
Current financial statements are available upon request.
Overview:
Current turnover:
150 patients per week, mixed billing (private and bulk billed) averaging $430,000.00 per year.
1 Full-time, 1 Part-time GP approx 200 patients per week averaging $575,820.00 per year
1 Full-time psychologist mixed billing (private and bulk billed) averaging $468,000.00 per year
2-3 casual nurses for COVID-19 vaccinations averaging $546,000.00 per year (funded by the Federal Government)
TOTAL: $1,589,820.00
This allows for the loan to be repaid quicker.
Sincerely,
Johanna Jade
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