Medical Equipment Loans & Financing
In addition to providing the best service to their patients and clients – dental, medical practices, and rehab facilities are always trying to keep their businesses up-to-date. For most medical practices, keeping your equipment updated, hiring new staff and continuing to run your office comfortably requires some extra working capital. The bills for these upgrades and additions keep coming even when the office is slow. Therefore, it’s important to know your options when you’re looking for the best way to finance these changes.
Medical equipment financing can help reduce your costs and improve your cash flow. One of the first decisions you need to make is whether you are going to purchase or lease the equipment. If you don’t have a regular supplier, check out several medical supply websites and review their new and used equipment. When you do, consider the differences between the two.
Financing Benefits When Purchasing New Medical Equipment:
- New medical equipment financing comes with a manufacturer’s OEM (Original Equipment Manufacturer) warranty, which is a promise of indemnity against defects under normal conditions of use
- You have the advantage of better post-sales service with your distributor
- Insurance claims are also an important consideration when making a decision. Oftentimes it is far easier for healthcare providers to make insurance claims when working with equipment that is operating with the latest technologies.
Choosing Medical Equipment Financing
Once you’ve made the decision to buy or lease your equipment, it’s time to choose a financial institution that offers medical equipment financing. Fast Capital 360 can provide you with the working capital necessary to replace outdated equipment, hire additional staff or upgrade your waiting room.
There are many obstacles associated with finding the right medical equipment financing, especially when applying for loans with larger financial institutions. Big banks often make loan applicants wait as long as 90 days to learn of their approval and require them to jump through hoops just to receive their cash. Our approach to medical equipment financing is a refreshing alternative to the headache of traditional bank loans.
To purchase durable specialized equipment for your health business, your best option may be financing equipment. Most small business owners don’t have the capital on hand to purchase healthcare equipment on their own but would like to avoid leasing it. Fast Capital 360 specializes in financing equipment for healthcare businesses, helping them purchase more durable equipment instead of leasing less trustworthy machinery.
Caring Healthcare Business Funding with Fast Capital 360
Financing equipment in the healthcare industry can be hard if you don’t find the right funder to work with. Fast Capital 360 offers a handful of options for your healthcare business, providing you with more flexibility than other lenders.
We’ve designed our entire process to be as small business friendly as possible. Our application takes the average user less than 10 minutes, and most applicants learn of their approval status in as little as 60 minutes. Once your medical practice is approved, you could have the cash you need in hand by the end of the next business day.
As a member of the Responsible Business Lending Coalition, our funding terms are written to be fair and transparent, without the surprise terms, conditions or hidden fees often associated with medical practice loans.
We’re committed to helping you get the perfect funding for your business needs, whatever they may be. We keep our funding costs transparent and our fees low to ensure you’re able to make the most out of your funding program.
Requirements For Funding For Medical Equipment:
- A personal credit score of 520 or more
- A minimum operating revenue of $120,000
- At least six months of operation
- Up-to-date bank statements
Fast Capital 360 looks at the bigger picture, judging your business by its health as a whole instead of just its credit score. Our make sense approach to medical equipment funding means that even if you don’t fit all of the above requirements, we still might be able to help you get the cash you need.
Whether you treat children or adults, run an assisted care facility or any other medical business, you deserve durable equipment and the proper staffing to tend to the health of your patients. Our Healthcare business financing is here to help you achieve your next goal.
We understand that taking out a loan for durable medical equipment is a big decision. Our business advisors are standing by six days a week to discuss every option afforded to you, even if it’s one we don’t offer.
For more information on why Fast Capital 360 is the best choice for medical equipment funding, contact us today at at 800-735-6107!