Category Archives for Medical Equipment Financing
Physiotherapy Equipment Financing
“We Provide Physiotherapy Equipment Loans And Leases For New And Used Equipment”
Physiotherapy equipment financing fits into the medical equipment financing category, and is a very competitive form of equipment financing in the market today.
Most banks, institutional lenders, and leasing companies have an appetite for financing physiotherapy equipment either through a loan or an equipment leasing arrangement.
Because of the strong credit and financial profiles common with physiotherapists in general, the loan and leasing options available for physiotherapy equipment can be very competitive in terms of both rates and financing terms.
Used physiotherapy equipment can also be financed with the length of the lending or leasing term matched up to the projected remaining useful life of the asset.
Physiotherapy Equipment Loans Versus
Physiotherapy Printing Equipment Leases
If you’re looking for the best available rates in the market when financing physiotherapy equipment, then you could consider either a loan or lease option.
Some major banks, for instance, have both a small business lending division and an equipment leasing division.
The banks, however, I really only interested in “A” credit business, so if you do not fit that type of lending profile, then a leasing option is going to be the best available avenue for securing equipment financing.
All the equipment leasing companies in the market place combined cover a wide range of credit and financial requirements, providing financing options even to those businesses with damaged or distressed credit.
Outside of rate, the choice between equipment loan versus equipment lease will depend on your cash flow objectives and your taxation position.
For instance, an operating lease can be secured to defer part of the principal repayment to the end of the leasing term, reducing the monthly debt servicing requirements in the process.
If your company is in a highly taxable position and wants to accelerate the write off of newly acquired assets, then an operating lease with a shorter repayment term may also be something to consider.
These various cash flow and tax planning strategies should always be reviewed with your accountant prior to signing any type of equipment leasing commitment.
How Much Physiotherapy Equipment Financing Can I Secure?
The answer to this is two fold.
In terms of loan to value, depending on your credit and financial profile, it is possible to get nearly 100% of the equipment purchase price financed plus the cost of delivery, installation, and training financed as well.
The total amount of financing you can secure is going to depend on the am0unt of cash flow you have available to service debt.
There really is no particular limit per say. The amount of financing is dependent on the level of cash flow the business generates and is reported in the annual financial statements.
For amounts under $25,000, approvals for financing are mostly done on credit with turnaround times from application to approval of one to two days.
For amounts over $25,000, there can be more information required to assess the application and the decision making process will typically take from two to five days.
If you’re in need of physiotherapy equipment financing, please give us a call so we can quickly assess your situation and immediately provide you with relevant options for your consideration.
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.
Optometrist Equipment Financing
Do You Need To Finance New Or Used Optometrist Equipment?
Optometrist equipment financing can be done through either an equipment loan or an equipment leasing facility provided by one of our Canadian or U.S. funding sources.
The basis for securing equipment financing for Optometrist equipment or optometric equipment as some may refer, is going to be the financial and credit strength of the application as well as the resale market potential for the assets being acquired.
Being that optometrist equipment loans and leases fall under the medical equipment financing category, there are lots of funding programs available for this type of asset.
And because certain types of equipment can have a significant useful life, there is also the potential to get good equipment financing rates and terms on new equipment that is in good working order.
For “A” level credit, optometrist equipment financing is very much sought after by the primary lenders and leasing companies that service this market. The medical profession in general is viewed to be a very low risk market for loss and as such most funders are interested in adding this type of financing to their portfolio.
Get Optometrist Equipment Financing That Meets Your Business Needs
If the equipment financing applicant is a doctor of optometry, the financing rates can be even higher than someone without that particular credential trying to finance similar assets.
If the credit rating is not in the “A” credit range, there are still financing options available, but they will likely have to come from leasing companies as banks and institutional lenders that provide equipment loans only deal with “A” credit profiles.
In many cases, an equipment lease can also be the preferred choice, regardless of the credit standing as leasing affords more options for dealing with cash flow and tax advantages.
For instance, if cash flow is tight, an operating lease can be entered into with a balloon payment at the end of the lease term to reduce the monthly payment requirements. Alternatively, if tax deductions are being sought, an operating lease with a short leasing term can provide an accelerated write off of the assets. You would need to check with your accountant or tax adviser to make sure any of these types of strategies made sense to your business requirements.
If you require optometrist equipment financing, please give us a call so we can quickly review your requirements and provide relevant loan or lease options for your consideration.
Digital Xray Equipment Financing
Do You Need To Finance New Or Used Digital Xray Equipment Through an Equipment Loan Or Lease?
Digital Xray equipment financing has become more and more common as medical practitioners move to new technology and require Canadian equipment financing to accomplish the capital upgrade in many cases.
The digital xray equipment is rapidly replacing conventional technology and all the chemicals and higher radiation levels that when with them.
Because digital xray equipment financing is typically requested by some form of medical center, an applicant is likely going to be able to qualify for most of the medical equipment financing programs out there related to this type of asset.
One potentially significant advantage with some programs is whether the applicant is actually a medical doctor versus a licensed technician or some other form of medical services provider. Doctor status can provide more equipment financing options including lower lost of financing and more choices with respect to terms and buyouts in the case of equipment leases.
Depending on the age of the digital xray equipment, it may also be possible to get equipment financing for used equipment provided its also in good condition. Because technology changes so quickly, its a bit harder to get used equipment financing for longer terms. But even shorter loan or lease terms can provide considerable financing and preserve the available cash flow.
Get Digital Xray Equipment Financing That Meets Your Business Needs
Because the majority of digital xray equipment is going to be purchased from “A” credit applicants, both loan and lease financing options can be obtained. When credit is strained for some reason, there can still be financing options to choose from, but they are likely going to come from equipment leasing companies as equipment loans issued by banks and institutional lenders are typically only available to “A” credit applications.
Regardless of credit status, an equipment leasing arrangement may still be the preferred choice of financing due to the many options that are available in structuring terms and buyouts. And its also not uncommon for digital xray equipment financing from a leasing company to exceed 100% of the acquisition costs as items such as delivery, installation, and training can also potentially be financed into the deal.
If you require a financing quote or more information about equipment financing for your business, give us a call and we’ll make sure your questions get answered right away.
Chiropractic Equipment Financing
Do You Need To Finance Chiropractic Equipment Through an Equipment Loan Or Lease?
Chiropractic equipment financing can be sourced from a number of different Canadian equipment financing and leasing companies that have focus on medical equipment within their portfolio.
Both new and used chiropractic equipment can be financing via equipment loan or lease, depending on the financing company and what they offer.
From an equipment loan point of view, most equipment loans are provided through banks and institutional lenders for “A” credit clients. Equipment leasing companies also provide comparable financing programs for “A” clients, but unlike the institutional lenders, there are leasing companies that will work with lower or weaker credit and financial profiles.
For chiropractic equipment financing amounts under $50,000, the financing approval process will likely be predominantly based on business and owner personal credit and guarantee as well as time in business. As the amount of financing goes up, more business financial information and financial performance will be required to secure financing.
In many cases, equipment financing companies will be able to quickly finance amounts under $25,000, but may not wish to proceed with too much additional exposure for this type of equipment. In cases where more financing is required for a number of different pieces of chiropractic equipment and where the business has strong credit and good cash flow, the applicant can look at splitting the financing requirement among different lenders. As long as the business has the ability to cash flow and debt service the collective amount of financing as well as any outstanding loans or leasing that already exist, this is a potential workable strategy as the leasing companies as each involved would be comfortable with their own level of risk.
Get Chiropractic Equipment Financing That Meets Your Business Needs
For financing used chiropractic equipment, its all about the make, year, and condition of the asset. The stronger the resale market is for given piece of equipment, the easier it will be to get medical equipment financing and at better rates and terms. At the same time, used equipment will typically require a higher down payment than new equipment, which can be financed at or near 100% of the purchase price in many cases.
In order to apply for chiropractic equipment financing you can either apply for a pre approval for equipment you are planning to source, or you can secure an invoice, quotation, or estimate from an equipment vendor and have the applicant processed for the actual asset and amount. Purchases of used equipment from private sellers is also possible, but there is a longer administration process to make sure that the title of the asset is free and clear for either a security registration in the case of an equipment loan or a purchase in the case of an equipment lease