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Banking services for pharmacists

Banking services for pharmacists

At Meridian, we understand that your pharmacy practice has unique needs. Whether you’re starting out or growing your practice, it’s important to have a financial partner who’s in touch with the pharmaceutical industry and can provide tailored solutions that support your business through every stage.

Financial considerations for pharmacists include:

  • What kind of business – a retail outlet or research facility? Are you considering going into business with a complementary profession, such as a doctor? 
  • Premises – have you considered your location? Is there competition already in place? 
  • The work/life balance – balancing your income with flexible schedules 
  • Repaying your student loan 

Meridian offers pharmacists financial solutions for:

  • Purchase of equipment, drugs and supplies 
  • Buying your own premises 
  • Launching additional branches, if you’re a retail pharmacist 
  • Investing your cash reserves

Managing your cash flow

To effectively balance your business and your personal life, you’ll need a good cash flow management system. 

Meridian has a number of business solutions that can help you manage your cash flow needs. Also, unlike other financial institutions, we offer immediate access to a dedicated Senior Wealth Advisor to help keep you on track as your business grows.

Benefits of working with us

  • Interest rates as low as Prime plus 1.00%. 
  • Practice purchase financing up to 75%, covering equipment, building and goodwill, supported by a valuation 
  • Practice start-up, up to 75% financing LHIs and equipment 
  • Still a student? Get financing up to $125,000 at Prime plus 1.25%

At Meridian, you’re not just another business

We understand we’re dealing with your hopes and dreams, and that what we can offer you has a profound impact on your life. We’ll carefully review your application with the goal of supporting you as a business partner. 

Since we offer student loan packages as well as business solutions, we’ll be with you for the whole journey – from entering your first year of medical school to completing your education, to launching your first practice and then helping you grow it.

We’ll find a solution

Where banks may have responded with a flat “no”, at Meridian we’ll do our best to come up with a solution. We’re interested in becoming your business partner, not just a supplier. 

At Meridian, we understand and support other health professionals, such as doctors and dentists. If you’re considering going into business with another health professional, we can help.   

We're here to help you figure it out

When we say there are no dumb questions, we really mean it. We’re really keen to help you complete your education, launch your practice and enjoy the rewards. So, contact one of our advisors to find out how we can support you on your business journey. 

For more information about our Professionals program, visit: MeridianCU.ca/Professionals

To find an Advisor near you, visit: MeridianCU.ca/SBAdvisor

Please note that this is a guide only and should neither replace competent advice, nor be taken, or relied upon, as financial or professional advice. Seek professional advice before making any decision that could affect your business.