Dental Chair Financing
Do You Need To Finance New Or Used Dental Chair?
Dental Chair financing can be an excellent way to save on cash in your dental practice. Whether you’re just starting out, or have an established practice, there can be many benefits for arranging equipment financing or equipment leasing for dental chairs or other dental equipment you may need to acquire.
Equipment financing amounts start at as low as $5,000 and can go up to basically any level, provided that the applicant can qualify for the amount requested.
As medical equipment financing goes, the rates and fees for dental equipment financing are some of the best in the market place.
Banks and institutional lenders as well as leasing companies view dentists and dental practitioners as very low credit risks and as a result are prepared to offer very competitive rates and terms without a great deal of qualifying information for requests under $100,000 in many cases.
With interest rates as low as they are, it may make a great deal of sense to not use up all your available cash flow and instead finance a new or used dental chair through an equipment loan or an equipment lease.
For the most part, equipment loans are only provided by banks and institutional lenders and only to “A” credit profiles.
There are also equipment leasing companies that cater to the “A” business as well as lower levels of credit.
Depending on your unique requirements or the requirements of the business, a loan or an equipment lease may both work well.
Get Dental Chair Financing That Meets Your Business Needs
In the case of an equipment loan, you or your business would own the dental chair and the bank or institutional lender would register a security charge against the asset to secure their loan/
With lease financing, the leasing company actually owns the asset and provides you with an exclusive right to use and operate the asset for the length of the lease.
Depending on your long term intentions, you can set up a lease so that you automatically purchase it for a nominal value at the end of the lease, or you can enter into an operating lease whereby you have a choice as to whether or not you purchase the dental chair when the lease term expires in the future.