Every medical facility whether a general practitioner to endocrinologist and dermatologist, require a decent amount of medical and health equipment. Mostly equipment’s are costly as well as crucial while running a medical facility. Substandard, outdated, or broken medical equipment’s can lead to medical errors and poor patient care. Medical equipment loans can help you stay on top and deliver the best medical care your patients deserve.

What Are Medical Equipment Loans?

A medical equipment loan is a loan specifically designed to help medical facilities purchase the needed equipment to provide excellent patient care and services. If you have a solid earning potential, with high net worth, and stable income, you can easily qualify for medical equipment financing.

Qualifications for Equipment Financing and Leasing

6 months
in business

FICO score
over 575

Equipment quote
from a vendor

Types of Medical Equipment’s You Can Finance

Low value equipment and small supplies don’t qualify for financing because medical equipment finance companies want to ensure the return on their investment. Equipment that a small business owner is unable to buy outright can qualify for financing, including:

X-ray and other imaging equipment
Diagnostic equipment
Dental instruments
Hospital beds and examination tables
Optometry equipment
Dermatology equipment
Chiropractic equipment
Surgical equipment

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MEDICAL EQUIPMENT LOAN TODAY
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Applying for Medical Equipment Financing

Many medical businesses turn to medical equipment financing to get the essential tools and machines they need to succeed. A medical equipment loan can help you get that essential equipment you need to grow, lower overhead costs, improve cash flow, keep state-of-the-art medical equipment and help provide quality care rapidly and competently.

The process of applying for medical equipment financing is similar to a small business loan. The following financial details are required with the loan application:

Bank statements
Tax returns
Balance sheets
Profit and loss statements

Equipment Loans

Equipment loans are great when you need to purchase large equipment, and the best part is—the equipment itself serves as collateral for the loan—putting less risk on the lender. That means borrowers don’t have to provide any collateral or a down payment for the loan. If you need equipment financing for a medical practice loan, it’s easier to qualify for than traditional bank loans, because of its self-secured nature.

Apply for Medical Practice Financing

Benefits of Equipment Loans:

Easier qualification than term loans
No collateral requirement
You own it and no need to lease the equipment

Drawbacks of Equipment Loans:

Can only be used for equipment purchases
High interest rate for hyper-specific or outdated equipment

Why Merchant Advisors?

Medical practice industry is growing with a different range of equipment needs. At Merchant Advisors,
we understand your unique needs and provide customized medical equipment financing solutions to keep your practice progressing.

Experience in the Industry
Helping medical practice owners since 1997
Trusted by Small Businesses
Billions in funding to thousands of businesses nationwide
Personalized Financing
Customized financing solutions to small business needs
Quick Application Process
No cost, no-obligation application with funding in 24 hours
Your Personal Loan Experts
Experienced Loan Experts help you succeed
Save Time and Money
Let’s be your helping hand so you can focus on growing your medical practice