New offering delivers mutual benefit

Sourcing finance to grow your practice can be a difficult and lengthy process. Avant Finance was established to make it simpler for doctors to secure attractive financing by providing a specialist healthcare broking service. This has now been enhanced through the ability to offer our own suite of finance products and be a lender, which offers significant benefits.

Investing back in medical practice

Being member owned, Avant constantly seeks to find ways we can support members in their professional and personal lives. Drawing on capital held by the mutual, we are able to make funds available for members to invest in their practices.

Avant’s heritage and mutuality provide a significant point of differentiation among the lending market in being the only finance provider who uses mutual funds to finance doctors’ practice growth, with profits going back to the membership.

Insurance businesses need to carry considerable capital to service potential claims, some of which can be invested to deliver returns to our members. Lending money back to members to grow their own businesses benefits those borrowing and returns the payments back to our pool of member assets – delivering on our ‘by doctors, for doctors’ philosophy.

Key benefits for members

Avant Finance has always prided itself on delivering exceptional service and the most extensive range of finance solutions for doctors. This now includes an expanded practice finance product suite including equipment, fit out and car loans, and commercial property finance. These allow time-poor doctors to quickly secure finance solutions tailored to their needs.

A great example of this was a car loan settled and payment made within 24 hours. Within 15 minutes of submitting an online enquiry, our finance specialist, called and discovered the doctor was purchasing a new car, with delivery planned for that Saturday. The doctor mentioned he'd been dealing with another lender but was concerned about meeting the settlement deadline. While the timeframe was tight, we were able to meet the deadline as the loan came from our own funding.

Avant Finance is also not weighed down by legacy systems, which has allowed us to rapidly adopt new technologies that significantly streamline our processes. This allows doctors to secure the funding they need quickly and seamlessly.

Another benefit is that business loans don’t require doctors to put up personal collateral to secure a loan, which is common for many lenders. For example, our business equipment loan for the purchase of practice equipment and motor vehicles, provides funding for up to $250,000 under a fast-track approval process.

Focused on doctors and their practices

As a doctors’ organisation, Avant understands doctors’ career paths and how that impacts their finances. So much so that the finance options we propose can vary according to the doctor’s specialty as well as career stage.  Avant Finance is committed to meeting the finance needs of doctors and remains dedicated to delivering outstanding service to doctors.