Running a medical practice can be extremely rewarding. You are not only helping people but creating a successful business. However, at times it can become a bit overwhelming with the constant expenses that come along with keeping your medical practice up to date. Rather than depleting your business savings, turning to outside financing options can help with big purchases of medical equipment.
Medical equipment loans are designed to help Doctors make big equipment purchases with little to no money down. With a strong credit rating your practice can take out a medical equipment loan with a low interest rate and a small down payment. You are able to utilize the equipment within your practice while making affordable monthly payments. This will keep money in your pocket and allow you to meet your practice’s financial needs.
If you are running a medical or dental practice you may be eligible for a medical equipment loan. These types of loans are typically offered directly through the medical equipment supplier or through your business banking institution. Depending on the life of your medical practice you may be required to use your personal credit to receive loan approval.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.
