Financial planning

Purpose: To purchase an existing portfolio (can include buying out an outgoing director), working capital up to SS0,000, refit of premises or refinancing of existing borrowings. Superannuation contributions

Maximum Loan Amount:

Dealer Members: Lesser of 70% of purchase price of practice being acquired or 2.Sx annual l renewal income.

Independent Advisors: Lesser of 50% of purchase price of practice being acquired or l .7Sx annual  renewal in come.

 

Max. Loan Tern: 10 years (15 years term may be considered)

Security:

Partnership/ Firm: Bill of sale (or equivalent) over all the assets of the dealer member (including renewal income).

Company: Fixed & Floating Charge, Directors’ Guarantees.

Key-man insurance required for a minimum of 50% of borrowings.

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