| Leasing medical equipment has its benefits-that's for | | | | medical equipment lease, the answer is maybe. Often |
| sure. Sometimes there are other excellent ways to | | | | times when a leasing company shares with you that |
| acquire your medical equipment opposed to just simply | | | | there is no pre-payment penalty, they sometimes |
| leasing the new medical equipment. | | | | forget (yeah right, more like neglect to tell you) to tell |
| Let's take a quick look at a loan versus lease situation | | | | you how early payoff works. Generally, you'll be |
| in the medical field: | | | | required to remit the remaining number of payments |
| --When comparing an equipment lease to a working | | | | left in your term. In other words, it does not work like a |
| capital loan, the lease has up-front payments. The | | | | fully amortized loan. |
| working capital loan does not. | | | | These are a few of the benefits of using a medical |
| --When comparing a medical equipment lease to a | | | | working capital loan to buy your equipment rather than |
| working capital loan, the lease requires installation of | | | | simply leasing your equipment. |
| equipment to be completed prior to funding. The | | | | Due to the professional stature of a physician, the |
| working capital loan does not. | | | | medical working capital loans can be pretty easy to |
| --With a medical equipment lease an original vendor | | | | get. If you have the following, it should be a snap: |
| invoice is required prior to funding. That is not the case | | | | --A 675 credit score |
| with a medical working capital loan. | | | | --3 years in business owning your current practice |
| --With a medical equipment lease you may have | | | | --Must be operating his or her practice on a |
| issues buying from certain vendors (private party, | | | | day-to-day basis |
| auction house, or the internet). When you use funds | | | | --Bankruptcies should be older than 5 years |
| from a medical working capital loan, you WILL NOT | | | | --It's Generally application only up to $75,000 (certain |
| have these issues. | | | | restrictions may apply) |
| --Is early payoff allowed? Well, with the medical | | | | So, if this sounds like something you'd like to explore, it's |
| working capital loan the answer is yes. With the | | | | normally pretty easy to apply right online. |