Medical Equipment Finance

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Are you in need of medical equipment but worried about the cost? Well, you don’t have to. Equipment finance presents you with the best to get the equipment you need and pay for it later. It is available for medical equipment, which means you can get all the equipment you need for your hospital or medical facility through it.

Medical equipment costs a lot of money, and who better to know this than we, the suppliers. This is why we partner with lenders who provide loans and other financing instruments to get the medical equipment you need.  With equipment finance, you can get any medical equipment you have in mind, thereby enabling you to provide your clients with better services without affecting your cash flow.

At Biotest Edge, we provide assistance to get the finance. We provide this service because of what we have observed in the market. Many medical practitioners and organisations face a significant cash crunch, and when seeking finance, they do not fully understand what they need and how best to get it which, in most cases, leads to them ending up with a bad deal. By helping you with your financing, we ensure that you have a seamless process from the point you decide to get finance to when you get the equipment you need. It must be noted that we are not lenders ourselves and will only connect you with the finance companies and lenders.

However, we do everything possible to make sure that we get you the suitable ideal for you. We provide independent recommendations and help you negotiate with the lenders to arrive at an equipment finance agreement that works for every party involved. When you work with us, you can rest assured of transparent dealings as we carry you along through every stage of the agreement. There are no hidden charges, and we help you speed up the equipment finance processing to ensure you get the right deal.

You can use the medical equipment finance to get any tool necessary for you to deliver quality medical care. Available financing options for equipment include;

Team of doctors in hospital office

Lease

With a lease agreement, you have possession and use of the equipment for some time while you pay for the use within that period. It is ideal if you don’t need the equipment for permanent use. With this, you are essentially paying for the period during which you are using the equipment, and in most cases, it rarely exceeds a few years, and in some cases, you even have the option of buying the equipment when the lease expires. Getting a lease instead of buying can give you freedom and flexibility when it comes to using the equipment. If you will be using the equipment for a short time, it is a logical decision for you to make. But in a situation where you are going to need the equipment on a more permanent basis, you should not go for a lease.

Health Care Workers In Hospital With Computer And Equipment

Loans

Equipment loans are one of the most effective ways to get the equipment you need. Such loans can either be a secured loan or unsecured loan. A loan is secured when it comes with a requirement of security before you can get the loan. This means you have to present collateral, a property that is equivalent in value to the loan you are seeking. In the case of a default, the lender will take possession of the property you have used as collateral. On the other hand, an unsecured loan is one where all you have to do is present all the necessary documents for the loan, and the lender does not ask you for collateral before giving you the loan.

Chattel Mortgage

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Mortgage the equipment you are getting until you are able to pay off the loan. This form of finance lets you get the equipment you need while using the equipment itself as the collateral for the loan, which means it is a secured loan. Once you get equipment with a chattel mortgage, the equipment becomes your property immediately. However, the financer will place a mortgage on it, making the equipment serve as collateral for the loan you have taken to buy it. With this kind of loan, you enjoy the benefit of a secured loan without needing to have a property that you will use as collateral. It is an ideal form of finance that lets you own the equipment you need without having a property as security, making it a win-win for you.

Hire Purchase

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This is a form of finance you should consider if you need the equipment on a permanent basis but can’t afford to get a loan. In the hire purchase form of financing, the lender buys and owns the equipment you want and gives it to you on lease. You are then expected to pay a stipulated amount monthly which is spread to cover the lease and the cost of buying the equipment. You are obligated to buy the equipment under this agreement, and once you complete the terms of the agreement, the equipment becomes yours.

It is advisable that you should have money saved before looking for equipment finance. Such money will serve several purposes when getting finance. For example, it can be used to pay deposits in a situation where the lender requires that you pay deposits or where they don’t cover the whole cost of the equipment. Deposits are a good thing in many cases as it means the amount you will repay will be less than if the lender gives you 100% finance.

Medical equipment finance is becoming quite popular in recent times, and there are lenders who specialise in offering these kinds of finance. Whether you use such finance or those who provide general equipment finance, you can be sure you will get the best deal when we assist you.

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