Finance your Medical Practice
Setting up a proficient private medical facility, or ensuring the continued success of more established premises, will rely on the quality of services offered to patients. Having access to the right medical equipment can make or break the accomplishment of a facility, and investment is often the biggest hurdle for practitioners to face. Asset finance is a suitable option for those looking for financial support, without the headache associated with standardised loans and more generic lenders. As healthcare facilities often make use of specialised equipment, they may really benefit from the financing options made available by more specific equipment finance options.
How May Medical Equipment Finance Help?
Medical diagnostic equipment is a key component for many medical facilities, but having access to even the simplest of these machines means a hefty outlay. When state-of-the-art appliances are a must, it might be all but impossible to accumulate the necessary funds needed to make these kinds of purchases – and this is where equipment financing comes into the equation.
Making use of this type of financing may help health facilities to gain access to the all important equipment that they need, but may otherwise be unable to afford. Equipment such as:
- MRI (Magnetic Resonance Imaging) equipment
- X-Ray machines
- CT Scanners
- Ultrasound equipment
- Cardiovascular equipment
- Nuclear Medicine PET
As many of these items are incredibly expensive for facilities of all grades, shapes and sizes, the ability to pay off in smaller installments may make a huge difference to the progress of the overall institution.
All appliances and pieces of equipment will act as the sole security for the loan too, so there will be no additional collateral requirements to be considered when taking out an equipment loan.
Why Choose Specific Equipment Finance?
As financing of any kind is a monetary agreement between an individual and a lending institution, it makes sense to opt for a lender who will understand the specific requirements of the debtor. For a medical business to grow, specific needs will need to be met, and a lender who understands these needs may be an effective means to fulfilling those requirements.
In many instances business loans are unsuitable, as they often require specific collateral demands -and shorter loan terms may be unable to meet restricted budgets. On the other hand, equipment financing loans usually come with extended loan terms of up to 10 years; meaning competitive monthly payments.
The fact that the lender retains ownership is also an attractive element of this kind of financing option, as a medical facility will have a much better chance of offering top-tier services and reaching its full potential as it continues to service the loan, without the uncertainty of losing the facility altogether if the worst should happen.