Medical
Medical Equipment Financing
The medical industry supports the health and well-being of communities across the country. Whether you run a local dental or doctor’s office, veterinary clinic, community hospital, or specialized surgical center, your practice provides essential services that impact lives every day. The effectiveness of these services often hinges on the quality and capability of the medical equipment in use. Advanced machines and instruments enable more accurate diagnoses, effective treatments, and overall better patient care. However, the rapidly evolving nature of medical technology means that equipment can become outdated quickly. Staying current with your healthcare equipment requires substantial financial investments.
Benefits
• Access Essential Equipment: Obtain the state-of-the-art medical equipment necessary to provide top-notch care without the immediate financial burden.
• Budget-friendly Payments: Spread the cost of equipment over a period, allowing for easier budgeting and financial planning.
• Stay Updated: With continuous advancements in medical technology, financing provides the flexibility to adopt the latest equipment without exhausting your financial reserves.
• Maintain Operational Funds: By opting for equipment financing, medical establishments can keep their cash flow stable, ensuring they have the necessary funds for other essential operational and patient care needs.
Financing With Us
Here’s how we stand out in supporting your medical business:
• Fast Approvals: We prioritize your time and the urgency of medical operations, making sure you receive a financing decision in less than 4 hours.
• Soft Credit Inquiries: We ensure that exploring your financing options with us doesn't impact your credit score by conducting soft credit pulls only.
• Stable Operational Finances: With our equipment financing solutions, you can confidently invest in new equipment while maintaining a steady cash flow for the smooth running of your establishment.
• Dedicated Guidance: Financing can be complex, but our knowledgeable specialists are on standby to offer one-on-one support, guiding you through every step of the process.
• Immediate Availability of Funds: Once approved, our same-day funding feature ensures that you have access to the necessary funds right away, enabling swift equipment acquisition.
• Personalized Financial Solutions: Understanding the unique requirements of each medical establishment, we provide tailored financing solutions that align perfectly with your needs and financial situation.
Some Equipment We Finance:
AEDs & Defibs | Anesthesia Machines | Patient Monitors | Surgical Lighting | Patient Beds | Lounge Chairs | FF&E | Ventilator | EKG Machines | Medical Steam Sterilizer | Radiology | Mammography Equipment | X-Ray Imaging | Ultrasound Tables | Filing and Storage | MRI Equipment | Clinical Equipment
Start Your Application Today
Frequently Asked Questions
There is no standard down payment required. The more business and personal borrowing history you have, the more likely you will be able to qualify for zero-down. Additionally, with newer businesses in the medical industry, in many cases, we can offer you the benefit of using how long you’ve had your medical license as your time in business. This allows you to not be underwritten as a start–up and avoid a down payment requirement.
Dental equipment, Furniture Fixtures and Equipment (FF&E), x-ray imaging machines
There is no application fee for applying. If approved and you proceed with the funding process, the fees will depend on the structure of your deal. Our standard documentation fee ranges from $200-$700 depending on the loan size, but there could be additional fees for services like titling or a site inspection.
Once we receive your application, our credit team will review your information and provide you with a decision typically within 4 business hours. If your application is approved, one of our sales representatives will guide you through your payment terms over the phone. At this stage, if additional documents are required, a sales representative will collect those from you as well. From that point, our funding team will reach out directly to you to finalize the documents and schedule the funding. If everything is provided to us promptly, we are able to fund as soon as the next day.
- All we need to make a decision on your file is our one-page application. In some cases, we may require the last 3 months of your bank statements depending on the industry you are in, dollar amount, or your credit history.
- If approved, your approval may have contingencies attached to it that must be completed in order to start the funding process. Common contingencies include proof of business ownership, time in business, and income. Once those contingencies are cleared, you’ll need to provide the funding documents which includes driver’s license, voided check, and anything else required depending on the nature of the loan.
To qualify for financing, you must have a minimum FICO score of 610. An ideal customer has established operations and extensive borrowing history.
While working with your sales representative, it may be beneficial to provide your professional license so we can count it towards your time in business in order to secure the best rate possible for you.
Our rates start at 6.99% and we offer terms ranging from 24-72 months. Your rate is dependent on your credit profile, collateral type, time in business, and borrowing history.
Payments will be automatically drawn from your account on the 1st or the 10th of each month via ACH.
With strong rates and flexible terms, we offer competitive medical financing and impeccable speed with our services. We underwrite and release funds to the sellers quicker than many of our competitors so you can get the equipment you need as soon as possible.
