Laurentian Bank Offers Pharmacists a Complete Range of Custom-Tailored
Financial Solutions

MONTREAL, Oct. 4 /CNW Telbec/ - As part of its global offering of products and services to Québec small and medium-sized businesses, Laurentian Bank has developed an exclusive and highly competitive line of financial solutions designed specifically to enable pharmacists to optimize their business and simplify management. In so doing, the Bank is innovating not only through the selection of products offered, but also in the way it offers them. In fact, the Bank is one of the few financial institutions able to take the value of goodwill into account when evaluating a financing request from pharmacists.

In offering this line of products and services to pharmacists, Laurentian Bank has assembled a team of specialists with extensive expertise and a well developed knowledge of the issues and business environment specific to this activity sector. Given how busy pharmacists can be, the Bank has developed a client-focused approach dedicated to maintaining proximity that sees the institution's experts making "house calls" to pharmacists at their convenience. Once mandated, they work hand-in-hand with a multi-disciplinary team comprised of accountants, legal professionals and other specialists to execute the necessary tasks that will lead to approval of the financing, without the need for any other direct involvement on the part of the client.

"When evaluating a file within this sector," explains Monique Lo, Senior Manager, Pharmacies at Laurentian Bank, "we recognize the value of goodwill in this type of enterprise, which is particularly beneficial when a pharmacist is seeking financing. Although goodwill is an intangible asset, we are surrounded by people who are able to pertinently assess this aspect, to which other financial institutions pay little or no attention."

Financial Solutions in Support of Projects Aiming for Success

Whether it is a matter of opening a pharmacy, proceeding with an expansion, acquiring an existing pharmacy, entering into a partnership, or purchasing a building or new state-of-the-art equipment, all of these endeavours require financing. Laurentian Bank possesses the resources necessary to facilitate the process, particularly for pharmacists.

Goodwill Financing

When it comes to purchasing a pharmacy, the Bank fully recognizes that the value of such an enterprise is comprised of tangible assets such as equipment and inventories, but also largely of goodwill. As such, this element is also taken into account in the case of a pharmacist acquiring an interest in an enterprise.

Loans on Equity

Similarly, if a pharmacist wishes to gain greater benefit from the acquired value of their establishment, Laurentian Bank can offer them another exclusive solution - goodwill financing allowing for loans on equity. Here again, the value of the guarantee takes the particular element of goodwill into account. "While the market value of a pharmacy may fluctuate considerably over time," adds Monique Lo, "a neighbourhood pharmacy's goodwill remains an asset of significant value in the analysis of a file, much to the advantage of the pharmacist who could make use of it to obtain a good lever of financing."

A Full Range of Top-Flight Complementary Products and Services

As a complement to its short- and long-term financing solutions, Laurentian Bank also offers pharmacists a variety of insurance instruments and transactional products and services, including tools for the management of business accounts, a pre-authorized transaction transfer service, commercial credit cards, and a payroll management service. In addition, the Bank has a wide range of electronic services available, such as LBCDirect Business access services and the third largest branch network in Québec.

Furthermore, the specially designed package for pharmacists includes exclusive programs for their personal finances like the Financial Elite program, which facilitates management and offers other special benefits, as well as Laurentian Bank's Private Banking service for more affluent clientele.

Anyone interested in more information about the comprehensive financial services offered to pharmacists by Laurentian Bank may contact Monique Lo at [phone], extension 5046. Additional information is also available on the Pharmacies page of the Bank's Web site at https://www.laurentianbank.ca/en/entreprises/pme/drugstore.html.

About Laurentian Bank

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $23 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,600 people.

For further information: Mary-Claude Tardif, Public Relations Advisor, 514 284-4500, extension 4695, [email protected]