Affordable Medical Equipment Financing for Dentists, Doctors, Chiropractors, Orthodontists, and More!
We want to help you grow your business with medical equipment financing that fits your budget.
- Affordable rates
- Knowledgeable support team
- Versatile financing programs
First Capital Business Finance offers medical equipment financing to the entire medical industry, even veterinarians.
Whether you’re a doctor or if you sell medical devices to medical offices, we offer financing programs that meet your financial needs, including:
- working capital loans
- business loans
- equipment financing
- cash advance
- merchant processing
- and more!
Because of our special expertise in the medical industry, First Capital Business Finance is able to analyze your specific business needs and opportunities, maximizing the potential for the financing you need for growth. Need Durable Medical Equipment Financing? First Capital can help you, even if you have bad credit.
Medical Equipment Eligible for Financing Includes:
If you don’t see your equipment listed, don’t worry! We most likely finance it – simply call us at (855) 661-4191 to find out!
- Laser Equipment
- Ultrasound Equipment
- X-Ray Equipment
- Crutches & Canes
- Hospital Beds
- Infusion Pumps
- Physical Therapy Equipment
- CT Scanners
- MRI Machines
- CPAP Devices
- CPM Machines
- Veterinary Equipment
- Patient Lifts
- Oxygen Equipment
- Bili Blankets and Lights
- Respiratory Ventilators
- Surgical Equipment
- Computer Equipment
- Suction Pumps
- Traction Equipment
- Medical Room & Office Furniture
- Dental Equipment
- Walkers & Wheelchairs
Affordable Medical Equipment Financing Rates
Medical equipment isn’t cheap, and you’re probably not planning to pay cash out of pocket for brand new equipment. Paying for the equipment you need can seem daunting.
Even more frustrating is that it’s tough to find clear information about medical equipment financing rates online. That’s where First Capital Business Finance is different. We give you the REAL, actual cost of equipment financing, even if you have bad credit.
What Medical Equipment Financing Rates Can I Expect?
Dealer Financing Rates
Did you know that you can get cheap financing through a dealer? Sometimes, you can even score zero percent.
How can they offer such a great deal? Well, these companies typically make enough money from equipment sales, and use financing to draw more customers in the door.
However, to qualify, you must:
- Have excellent credit (700 or higher)
- Own a well-established practice
If you own a newer practice, you will not typically qualify.
If you can get 5% or below, that’s an excellent rate, so take the offer if you can.
If the dealer refuses to advertise their rates, beware. That usually means financing is simply a profit center for them. They bank on the assumption that customers won’t shop around for better rates, so they get away with charging higher rates. Don’t fall for it. If you choose to go with a dealer, always shop around and call in for rates.
Bank Financing Rates
Banks often offer financing at rates from 6% to 12%. Note that it’s really tough to get bank financing, though. This is because the rates are so low.
In other words, if just a few borrowers end up defaulting, the bank goes upside-down quickly. They don’t want that risk, so if they can find any reason to deny your application to protect themselves, they will.
Furthermore, it can take over a month to get approval through a bank.
In order to qualify for bank financing, you’ll want to make sure you have:
- Excellent credit (score of 720 or higher)
- At least 2 years in business
- Ample revenues (exact number depends on the bank)
If you’ve got time to wait on the bank and have no problems with credit, it may be a good option for you.
Medical Equipment Financing – Loans/Leasing Rates
If you don’t want to or can’t use a bank or dealer, you should start researching medical equipment loans or leasing.
Most websites only mention the lowest possible rate to draw you in, so make sure to call to get actual pricing before jumping in. Unless you have perfect credit, you likely won’t get that lowest possible rate.
Also, don’t fall for the “5% trap.” Some websites advertise their “5% rates” but beware – this does not mean the APR; it means 5% per year. Take a look at the difference below:
Payments for 5 Years on $50,000
- 5% APR – $943.56
- 5% a Year – $1,041.67
Your credit and how long you have been in business can affect your rates. If you’re looking for $50,000 over a period of 60 months, you could expect typical payments of $1,041 for low risk up to $2,100 for high risk.
In the end, it’s always best to call the company and discuss your specific situation and what your rates would be.
Expanding, Moving, or Remodeling?
- No more frustration dealing with a bank
- Quickly access between $5,000 and $1,000,000
- Bad credit is not an issue and previous bankruptcy won’t hold you back
- Collateral is not required on the majority of our programs
- Minimal paperwork
- Flexible terms (up to 18 months)
- The interest is tax-deductible
No matter what the future holds, First Capital Business Finance offers multiple funding programs so you can capitalize on new potential business.
Your business can access between $5,000 and $1,000,000, without the aggravation and lengthy process that accompanies dealing with a bank. First Capital’s excellent customer service keeps customers first, the way it should be.
Approvals are granted quickly, so what are you waiting for? Get approved today!
Medical Equipment Financing | First Capital Business Finance