Medical Equipment Financing & Loans

If you’re in the healthcare industry, you more than likely use some sort of medical equipment, whether that’s an x-ray machine, ventilator, or even needles for blood withdrawal. Usually, medical equipment doesn’t come cheap, and when you find yourself in need, you may not have the cash flow to cover a large expense. That’s where medical equipment loans can be helpful: they provide the working capital you need to get the equipment your business relies on.

Small business loans can empower you to purchase medical equipment when cash flow is unstable. Your medical practice needs to have the equipment necessary to help patients, and a medical equipment loan can ensure you don’t miss a beat if a piece of equipment breaks down and you need to replace it yesterday. It can also ensure you have the newest equipment so that you can best serve your patients. If you’re using outdated equipment because you don’t have the working capital to upgrade, a loan can help you do just that.

You may also be able to leverage medical equipment leasing as a way to finance medical devices. With a medical equipment lease, you pay a lower monthly payment to a leasing company than you would a finance company if you were buying the equipment outright. At the end of the lease, you would return the equipment. There are benefits to both.

Some equipment financing companies may be open to you using medical equipment finance to purchase used equipment. Some types of financing, such as small business loans or credit cards, have no stipulations about what you can purchase with the funds as long as it relates to your business. If you work with a healthcare equipment financing company, make sure to find out if you are able to purchase used equipment before applying.