Medical practices may need to upgrade their equipment for many reasons and at any time. Whether you are just starting your practice and are purchasing equipment for the first time, you’re an established practice looking to upgrade to the latest tech, or you are dealing with an unexpected breakdown and urgently need a replacement, you may need to secure third-party funding to help you finance the purchase of new equipment.
Small Business Administration (SBA) loans and loans from traditional lenders like banks are popular options for medical practices looking for equipment financing, but these loans have a long application process and extensive paperwork requirements. If your practice doesn’t meet the requirements of the SBA or a bank or you need funding quickly, alternative lenders like Greenbox Capital® may be a better option.
In our latest post for Physician’s Practice, we take a closer look at how alternative funding can help medical practices upgrade their equipment, including:
- Why you might need a medical equipment loan
- Types of equipment than medical equipmpent financing can be used to purchase
- Why you should consider alternative funding for purchasing medical equipment
- Why is alternative funding ideal for purchasing medical equipment?