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.
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.
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.