Industries We Proudly Serve.
After our tremendous growth in the healthcare industry due to our superiour finance programs we have since expanded to focus on many different industries that demand a better equipment financing program.
How to Qualify for the best Equipment Financing Rates?
Many business owners starting up or once business owners decide to get equipment financing realize the type of credit profile they need to get the best equipment financing rates.
If you’re interested, you can work with trustworthy companies who will provide you accurate estimates and won’t go behind your back and make you pay unexpected fees. You need the following three requirements for Qualifying for the best equipment financing rates:
- 2 Plus years in business
- 700+ Fico Score with a minimum of five tradelines with each having been on the bureau atleast five years.
- Good business credit history
The higher your credit rating, the longer your business has been around, and the better your revenue, you’ll end up with a higher approval chance and better equipment financing rates. We know that this isn’t always possible, which is why we like to work with businesses of all sizes and review each application individually.
Financing Options for Medical Equipment.
When you’re growing a medical practice, whether it’s a small office or a large establishment, we know you always need to stay ahead of the market. From keeping the lights on to purchasing and upgrading new medical equipment, there’s always something for every medical office and establishment to financially work towards.
For example, medical offices could use specialized lasers, x-ray scanning machines, lighting, equipment for physical therapy, beds, seating, monitors, computer systems, and so much more. All of these can cost the medical business a lot of money. There are many different medical equipment options to furnish and equip your office with the latest items and medical technology.
However, most offices like yours don’t want to shell out thousands of dollars in cash and savings just to upgrade their medical equipment. This can put a lot of unwanted financial strain on the business, the owner and the employees operating the business on a daily basis.
This is where medical equipment leasing comes into play. Rather than fronting 100% of the costs for medical equipment and other business costs, medical equipment finance options are available to help distribute the cost over monthly payments, while getting to enjoy the benefits of paying upfront: purchasing your necessary medical equipment and medical device upgrades.
Not All Medical Equipment Financing Is Created Equal...
Unfortunately in today’s market, not all medical equipment leasing companies are entirely honest and upfront about their actual rates and fees. Many companies are more than willing to advertise medical practice financing rates that seem unbelievably low for the funding amount you need. This draws in a lot of medical practices, only for them to find out that the financing company wasn’t entirely honest about the rates they were giving them.
Most companies that can provide you with a medical equipment lease will only publicly advertise their rates based on the most ideal of situations: very high credit scores, long standing businesses, and an otherwise low risk business profile. Those financing companies know that they run the risk of losing customers if they advertise based on more common business situations.
There are different types of financing options, too. There’s bank loans, medical equipment loans, medical equipment leases, and medical equipment dealer financing options available to all types of medical offices throughout the country.
If you can get the dealer of your medical equipment to finance your medical device generally that is the route you will want to go. In many cases it’s possible for the dealer to offer zero percent financing on the medical equipment if paid within a certain period of time. Or in other words, you don’t pay anything extra beyond the price of the medical device itself.
Whether you’re looking for a medical equipment lease or need guidance on the best course of action to finance your medical practice, Fill out the form to the right or give us a call today at 866-458-4666 or contact us and we’ll be happy to help. If you need medical equipment financing, you can even apply online with our quick and easy application to get started with getting the funding you need
Our application process is easy. Simply fill out our quick, online application and start the process of securing financing for your start up practice. Our knowledgeable finance experts are here to assist you in obtaining a start up financing loan.
If you have any questions, we invite you to contact us