Update Old Equipment with Medical Loans

To keep your medical practice running smoothly and offering the best care to patients it is important to keep equipment up to date. However, just like with many other businesses, new equipment purchases can have a heavy price tag. Rather than depleting your medical practices savings, turn to a medical equipment loan.

What are Medical Equipment Loans?

Medical equipment loans are designed to help Doctors make equipment purchases through an affordable monthly payment. Rather than put up a large amount of cash for medical equipment, lenders will offer low-interest monthly payments to you business with a small down payment. During the life of the loan a lien will be held on the equipment, failure to repay the loan as promised will result in its repossession.

Who can Take out Medical Equipment Loans

Typically medical practices and dentist offices are able to take out medical equipment loans. However most lenders require a guarantor on the loan, this may require an owner or management to use their personal financial information to secure the loan. This will also help the lender determine the interest rate and loan terms by basing it off the individual’s credit history.

How To Get a Medical Equipment Loan

  1. Select the medical equipment your practice would like to purchase. Negotiate with the vender to get the best price available.
  2. Turn to your business banker or the venders financing department to discuss your financing options.
  3. Submit an application along with the information of the medical equipment you would like to purchase.
  4. Negotiate the terms and conditions to the loan, this can help you get a lower interest rate and a fixed repayment plan.
  5. Sign the contract and start utilizing the new medical equipment within your practice.

When You Are Ready, We Are Here!

When you apply with us, you’re applying with a trusted company that cares about your financing needs. We’ll take care of you through the whole process.

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  • Unsecured Loans up to $150,000
  • Save Money - The Lowest Rates in the industry
  • Funding is Fast - Less than Seven Days Turnaround
  • Versatile - Multiple Industries Funded