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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.