My Invoice Finance
Pharmacy Finance

By refinancing your pharmacy with a My Invoice Finance facility, you can turn your pharmacy into a cash business overnight by getting paid immediately for your NHS dispensing.

Immediate injection of cash

You’ll receive a lump sum, equivalent to 10% of your NHS turnover, that will enable your cash to work much harder for you.

For example, you’ll have ongoing finance to meet wage and salary costs, settle your bills and go forward with far greater certainty. You’ll also have the funds available to pay for your stock today and because you have the purchasing power at your disposal, you have total freedom to negotiate preferential terms from your suppliers – increasing your margin significantly.

Refinancing a business is more straightforward than many pharmacy owners appreciate. Whether transferring from another funder or a clearing bank, there is seldom a reason why this should be difficult to achieve or costly.

Whatever your pharmacy refinancing needs, we can help, contact My Invoice Finance today.

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10 reasons why you should choose Pharmacy Finance over a traditional invoice finance facility…

1. A bespoke funding platform designed specifically for the pharmacy payment cycle

2. A specialist Pharmacy team with decades of experience, industry knowledge and relationships in the sector

3. Funding available for working capital, equipment purchases and pharmacy acquisitions

4. Clear and transparent charging structure

5. Funding available at any point of the month, not only once you have produced your FP34C!

6. Smooth reconciliation process

7. Customer access to the Key Decision Makers in the organisation

8. Additional loan facilities available

9. Leading authority on Pharmacy Finance

10. A proven track record as Champions of Community Pharmacy

Freelancer Essentials

Examples of pharmacies, Pharmacy Finance can help…

  • Pharmacy Start-up

    Whether you are a new independent or a new branch of a multiple, My Invoice Finance has a flexible financial solution to suit your new or recent start-up operation.

    Immediate payment for your NHS dispensing

    My Invoice Finance recognises that starting up a pharmacy is hard work, with no payment for your NHS dispensing for your first two months. Now, there’s a solution.

    We offer immediate payment for your NHS dispensing – providing immediate access to the valuable cash resources needed to grow your business.

    With the benefit of immediate payment you’ll be able to:

    Meet wage and salary costs

    Negotiate cash discounts from suppliers

    Settle unexpected bills without increasing your borrowings

    Free up cash resources to promote your services to your local community

    Whatever your situation, at a time when credit is tight, My Invoice Finance has a pharmacy finance solution that offers you a bespoke, ready source of working capital.

    To access the cash resources you need to grow your start-up pharmacy, contact My Invoice Finance today.

  • Invoice Discounting with Credit Protection

    Although no business likes to think about it, it’s a fact of life that every day, companies go into formal insolvency.

    In the case where one of these companies is a customer of yours, it can prove extremely difficult to recover what you are owed – or indeed recover anything at all. If your customer fails to pay and you do not have credit protection in place, you will have to repay the funds we have provided against their outstanding invoices.

    For larger businesses this may not be a problem. But for many smaller companies, even a relatively minor cash flow crisis could prove to be a major worry.

    This is where our Invoice Discounting with Credit Protection product steps in – to protect your business from the formal insolvency of a customer.

    How Invoice Discounting with Credit Protection works

    Designed to complement your invoice discounting facility, credit protection is an affordable solution that mitigates the impact of bad debt caused by the formal insolvency of a customer, giving you certainty of payment when things go wrong. Invoice Discounting with Credit Protection can put you ahead of your competitors, allowing you to take on more business and grow with confidence.

    Reducing the risks

    Our Invoice Discounting with Credit Protection includes built-in credit limit analysis for all your customers. This simple step can often help to reduce the risk of bad debts in the first place.

    Security may be required. Product fees may apply.

  • 100 Hour Pharmacy

    As a 100 Hour Pharmacy owner, My Invoice Finance understands that you face a unique set of challenges.

    Higher wage and salary costs

    Having to dispense more items than a traditional pharmacy to break even

    Less generous credit terms from wholesalers

    Wholesalers requiring a deposit up front

    No payment from the Prescription Pricing Division (PPD) until 2 months after dispensing.

    5 Compelling Reasons Why Being Paid Immediately For Your NHS Dispensing Makes All the Difference To Your 100 Hour Pharmacy:

    Meet the higher staffing costs and pharmacists’ salaries associated with longer opening hours.

    Cash resources to meet your dispensing turnover targets, promote longer opening hours to your local community and nearby GP’s surgeries and develop a consulting room.

    Negotiate early settlement discounts with your wholesale suppliers

    Reduced need for additional equity or loan facilities to cover the initial 2 month trading period

    Your initial equity requirement is much lower so you are able to start trading sooner

    To develop and grow your 100 Hour Pharmacy business, contactMy Invoice Finance today.

  • Pharmacy Aquisition

    When looking to buy additional pharmacies or refinancing, My Invoice Finance offers a flexible finance package, including loan facilities for pharmacy acquisitions, that provides:

    A Higher Amount Of Acquisition Funding

    By combining a loan with the additional capital we release based on the value of your NHS turnover, we offer you significantly higher levels of acquisition funding. This means a lower equity requirement, in some cases up to 40% lower.

    No Purchasing Restrictions

    Many pharmacists believe that the purchasing restrictions faced when using a wholesaler loan results in margin loss.

    Calculating the margin loss at 3% as an example means that an average-sized pharmacy turning over £500,000 a year loses £15,000 in margin annually by not being able to shop around. With My Invoice Finance you can boost your purchasing power and profits.

    Ongoing Working Capital

    Once you have made your pharmacy acquisition, we provide you with the pharmacy finance to further develop the services you offer, allowing you to grow both the turnover and goodwill value of your business.

    We have proven, established relationships with the Healthcare teams of a number of banks, accelerating response times to your loan request.

    For more cash to help you realise your acquisitions and ambitions, contact My Invoice Finance today.

  • Grow your Pharmacy

    There are many ways in which you can grow your pharmacy, including:

    A shop re-fit

    Negotiating early settlement discounts with wholesalers

    Marketing your services locally

    Offering new services

    Adding a consulting room

    Whatever initiatives you are planning to implement for your pharmacy, My Invoice Finance provides a flexible source of working and investment capital. The benefits are clear:

    An Immediate Lump Sum Of Money Being Released To You

    When you start using the My Invoice Finance service, the sum of money currently owed to you by the PPD is released immediately to you. This is a substantial amount of money, approximately 10% of your annual dispensing turnover (e.g. £50,000 if you dispense £500,000 annually).

    Ongoing Immediate Payment For Your NHS dispensing

    As you move forward, My Invoice Finance pays you immediately for your NHS dispensing, enhancing your pharmacy’s cash flow and making it far easier to grow.

    With more cash available you have more options open to you to grow profits through:

    Negotiating cash discounts from suppliers

    Meeting unexpected bills without having to increase borrowings or your overdraft

    Negotiating early settlement discounts with wholesalers

    Time Saving Administration And Support

    My Invoice Finance collates and processes your PPD payment details, delivering useful reports on your dispensing income.

    Whatever your pharmacy expansion plans, contact My Invoice Finance today to help you realise your ambitions.

  • Entrepreneur

    Those using My Invoice Finance have the capital available to invest in other business interests such as property and franchises or to acquire competitors at advantageous prices. They have the ready supply of cash to secure preferential supplier discounts. They have the muscle to invest in new ventures, products and distribution.

    In the current climate, there are many well-established pharmacy entrepreneurs with a solid track record who can prosper with the right financial partner. My Invoice Finance takes the time to understand your individual situation and portfolio of businesses and to create an individually structured pharmacy finance package to meet your needs.

    These facilities have not only proven to be a valuable lifeline to the entrepreneurial pharmacist during the recession, they will also grow with them as they emerge from it.

    Our specialist pharmacy finance team is ideally equipped to support entrepreneurial businesses with flexible solutions. Contact My Invoice Finance today for further information.