Category Archives for Medical Equipment Financing
Financing Medical Leasehold Improvements
“Do You Need Leasehold Improvement Financing For Your Medical Practice?”
One of the true equipment financing benefits of having a medical practice or medical office of some sort is the different financing options that are available to you to finance real estate, working capital, equipment, and leasehold improvements.
Yes, leasehold improvements are actually an item that can be financed in a number of different ways. While this type of asset has no real security value to a lender, there are still several different financing programs willing to finance leasehold improvements, especially those made by medical practitioners.
Not only are there a number of different sources to consider, but the rates and terms are also very good for medical leasehold financing. At the same time, some of these financing programs will also require that some amount of equipment financing be part of the capital request and will not consider an application for strictly leasehold improvements.
Get Leasehold Improvement Financing That Meets Your Business Needs.
From a lending point of view, leaseholds can be financed under small business loan programs that are typically insured by the government, reducing the level of risk for both the borrower and the lender.
Medical leasehold improvements can also be financed by certain leasing companies that have a focus on medical equipment financing. There are insurance programs covering off this type of lending, but irregardless it is a growing part of the part for financing leaseholds as the view by most lenders is that medical offices are very low risk financing scenarios compared to the rest of the market at large.
For either a loan or leasing scenario, medical practices and medical offices can secure some of the best financing rates offered for this classification of asset. And with leverage ratios at or above 90%, this is a very scalable form of capital, especially if the business is looking to expand with other offices and locations.
With a little bit of market knowledge, a borrower can secure some very good financing in terms of rates and terms. The key is to understand the best financing sources to work with for your particular situation.
If you have a medical leasehold improvement financing need, I suggest you give us a call so we can quickly assess your requirements and provide relevant options for your consideration.
Leasehold Improvement Financing
Do You Need To Finance Leasehold Improvements?
If you want to set up an office or expand an existing on, you may be able to finance the cost of lease hold improvement s in a couple of different ways.
As far as who would qualify for financing, any office or business set up that requires both equipment and leaseholds can be considered for financing leasehold improvements.
The most commonly funded applicants are from the medical profession and include medical practices that involve dental, dentistry, chiropractic, optometric, orthotic, orthodontist, podiatrist, allergology, andrology, anesthesia, angiology, aviation medicine, cardiology, dermatology, disaster medicine, emergency medicine, endocrinology, gastroenterology, general practice, gerontology, gynecology, hematology, hepatology, immunology, infectious diseases, intensive care, kinesiology, medical genetics, military medicine, nephrology, neurology, nuclear medicine, obstetrics, oncology, oral surgery, palepathology, palliative medicine, pathology, pediatrics, podiatry, psychiatry, pulmonology, radiology, rehabilitation medicine, rheumatology, serology, sexual health, sports medicine, toxicology, transplant medicine, urology.
There are many other business applications that would qualify for leasehold financing including hair salon, financial services, office building, legal practice, insurance agent, real estate agent, mortgage broker, government services, retail store, consumer services, business services, and so on.
While basically any type of scenario can be considered, medical leasehold improvement financing is probably the most popular due to the large number of offices across Canada requiring financing for leasehold, and the strong repayment history for medical practitioners that are granted leasehold related financing.
Get Leasehold Improvement Financing That Meets Your Business Needs.
The actual financing is primarily available in two forms. The small business loan program insured by the federal government will finance equipment and leaseholds up to a total value of $250,000. This program is very broad based in terms of the types of businesses and industries it will consider.
Leasehold improvements can also be financed through equipment leasing programs provided by Canadian based leasing companies. The key difference with leasing is that the applications considered are far more limited due to the fact that there is no government lease insurance program to protect the losses incurred by leasing companies from lessee default situations.
Leasing companies are primarily focused on providing leasehold improvement financing to medical offices and other related professional service organizations that have very strong credit profiles and low default rates.
For those that qualify, the ability to finance leaseholds is a definite plus as the funding would otherwise have to come out of cash flow, reducing the amount of work that could be performed in many cases.
If you’re trying to figure out how to finance leasehold improvements, give us a call and we’ll identify the best options available for your particular scenario.
Dental Equipment Financing
Do You Need To Finance Dental Equipment Through an Equipment Lease or Loan?
Dental equipment financing is available to Canadian based dental practices for a large variety of equipment. Here is a small list of some of the more common items that are financed on a regular basis by Canadian equipment financing and leasing companies:
Electric dental chair, hydraulic dental chair, hydraulic press, acryliser, electric craver, dental lathe, plaster dispenser, electro polisher, vacuum mixer, palatial trimmer, arch trimmer, hydraulic dental press, dental polishing equipment, dental cleaning equipment, dental chair, dental ultrasonic scaler, dental lab equipment, dental curing light, adstra imaging software, cart delivery system, dental compressor, cuspidor, vacuum arm system, dental cabinetry, dental cabinets, mobile dental cabinets, dental stool, dent-x 3d imaging, dental instrument washer, dental lighting system, mobile dental clinic, mobile x-ray unit, nitrous oxide dispenser, portable dental equipment, dental operatory equipment, x-ray panoramic, x-ray intraoral, dental practice management software, dental charting software, precision microscope, sterilizer, air abrasion system, air polisher, amalgamator, amalgam removal system, apex locator, conscious sedation monitoring system, defibrillation, digital x-ray film reader, electrosurgery equipment, hand piece cleaning system, lubrication system, high speed hand piece, low speed hand piece, needle free injector, oxygen resuscitation unit, pulse oximetry, teeth whitening equipment, ultrasonic cleaning unit, dental waste management equipment.
If you are looking to acquire an asset that is not listed above, please give us a call so that we can get it qualified by a lender or leasing company.
Dental equipment financing provides some of the lowest cost borrowing and leasing rates of any equipment offered for sale in any industry. This is largely due to the financial stability associated with most dental practices and the very low levels of borrower or lessor default experienced by lenders and leases.
Get Dental Equipment Financing That Meets Your Business Needs
Because the estimated medical industry financing risk is viewed to be very low, financing companies want to lend as much money to dentists and dental practices as possible. In order to accomplish this, lenders and leasing companies will finance leasehold improvements that would not otherwise be possible in most other industries unless the financing was provided through a government insured equipment financing program.
The benefits to the owners and managers of dental offices are considerable in terms of low interest rates, financing leverage at or near 100% of asset cost, and expanded financing applications such as leaseholds.
Dentistry is one of the few industries where expansion can take place over and over again with very high leverage already in place on the business balance sheet.
If you have a dental equipment financing or leasing need, please give us a call so that we can review your requirements and provide the best options for your consideration.