Medical equipment leasing for new and used equipment covers off all the different forms of medical practice and the related equipment each one employs.
Here is a list of the most common categories and equipment types that are commonly financed through equipment lease programs.
Medical equipment leasing programs typically provide the lowest financing rates offered by a leasing company. Because of the cash flow strength afforded to the practitioners by the medical services market, there tends to be a very low default rate among applicants which is rewarded through lower cost financing rates.
In addition, due to the overall strength of borrowers or lessees purchasing from this equipment category, leasing companies have gone one step beyond financing equipment and will also consider financing of the leasehold improvements made in medical offices. This type of financing was traditionally only provided by schedule one banks through government insured loan programs, but is now available at or near 100% financing through leasing companies that offer financing to medical professionals. From a financing and capital leverage point of view, this is a tremendous borrowing tool for people in the medical profession in that they no longer have to utilize cash resources and perhaps personal resources to fund investments in leaseholds.
For smaller scale medical offices that perhaps are only looking for one piece of equipment to expand their services, applications for equipment financing can be completed, submitted, and approved in just a few hours with funding possible within an additional day.
Just like with other forms of equipment leasing, medical practitioners can apply for a pre-approval for financing prior to purchase to streamline the acquisition process and get the equipment up and running as fast as possible.
And also keep in mind that the soft costs related to a purchase such as delivery, installation, and training can also be financed through an equipment lease once again saving on cash flow and capitalizing on the diverse borrowing that can be secured for medically based businesses.
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