The Reasons

Why a practice refinances.

It's rarely just the rate. Most refinances come down to one of three positions — and the right structure looks different for each.

01 Better terms, earned

A practice that has grown, steadied its billings, and built goodwill is a lower risk than it was at acquisition. That improvement is worth repricing — but only if someone takes it back to the market.

02 One facility, not five

Equipment loans, a working-capital line, a premises loan, a fit-out facility — often spread across different lenders. Consolidating them can simplify the security position, the covenants, and the monthly cash flow.

03 Release equity to move

Equity built in the practice or its premises can fund the next step — a second site, a partner buy-in, new equipment — without selling anything. A refinance is one way to free it up.

Structure Over Rate

The headline rate is one line in the facility. The structure is the rest.

01 Illustrative Example

A practice servicing three facilities — a $600k equipment loan, a $250k working-capital line, and a $900k premises loan — across two lenders, with the principal's home taken as additional security on two of them. Consolidated into a single facility against the practice and its premises, the home is released as security and the repayment profile is reset to the practice's actual cash flow. The same practice, a materially different position — driven by structure, not the rate.

Two facilities can carry the same interest rate and behave completely differently. One cross-collateralises your home against the practice. One is interest-only with a looming expiry. One has covenants that tighten if billings dip for a quarter. The rate is easy to compare. The structure is where the cost — and the risk — actually sits.

The Review

A facility review doesn't commit you to anything.

Most practice owners don't know whether their current facility is still competitive — because checking means going back to the market, and that feels like work. It isn't, when someone else does it. We're mandated as your adviser, not a lender's placement channel: we review the facility you hold against the panel and tell you plainly where it sits. Your terms are fine, or here's what's available.

If it's the former, you've lost nothing and you know where you stand. If it's the latter, you decide — on your timing, with a clear picture. A review doesn't mean you have to switch.

Preparation

What lenders want to see in a refinance.

A refinance is assessed on where the practice stands now — and on what the new structure would look like, not just the one you're leaving.

2–3 years of practice financials (P&L, tax returns, BAS)

The existing facility terms — rate, expiry, security, covenants, and any break costs

Current billing history by item number (for GP and specialist practices)

The current security position — what's pledged, and what could be released

The reason for the refinance — better terms, consolidation, or equity release

Serviceability on the proposed structure, not only the facility you hold today

Timing Matters

Refinance from strength — when the practice's numbers are at their best.

The best time to refinance is when the practice reads well: revenue steady or growing, goodwill established, premises revalued. That's when better terms are on the table. It's also worth a look ahead of a fixed-rate roll-off, an interest-only expiry, or a covenant reset — the points where a facility can quietly get more expensive. Getting advice early means you move on your timing, not the lender's.

Know Your Numbers First

See what the practice actually earns before you restructure the debt.

Serviceability starts with real net income — not gross billings. Our GP income model works your take-home from your appointment pattern, service fee, and costs, and tests whether a practice JV covers its overhead. It's a useful place to start before a refinance conversation.