All healthcare organizations face the challenge of Medical equipment financing and implementing the latest, ever-changing medical equipment while carefully managing budget dollars. The challenge is amplified for small and rural hospitals, which face higher demands from patients and an increased focus on improving the patient experience — but perhaps don’t have the cash flow to keep up with evolving medical technology.
The capital expenditures required for investment and growth pose a difficult challenge for healthcare CFOs. They are often in a position of having to balance patient needs and cash availability — and it doesn’t help when traditional lenders often shy away from providing equipment financing in an environment that’s ripe with uncertainty.
Reasons for Medical Equipment Financing
Healthcare organizations have two primary reasons for obtaining equipment loans:
- Buying or upgrading equipment to fulfil new jobs and contracts — and enhance patient care
- Taking advantage of advancements in technology to help them stay ahead of the competition
The Alternative Financing Situation
Clear Skies Capital is in the business of helping healthcare organizations overcome the challenges presented by bank financing. We have provided financing for many organizations in the healthcare space, including:
- Health systems and hospitals
- Ambulatory surgery centres
- Hospital and physician joint ventures
- Oncology facilities
- Imaging centres
- Physician groups
The types of medical equipment that CSC provides financing for include:
- Dental equipment, including seating
- Physical therapy equipment
- Medical lasers
- Wheelchairs
- Diagnostic equipment
- Imaging equipment, including x-ray and ultrasound machines
- Dermatology equipment
- Optometry equipment
- Chiropractic equipment
- Commercial vehicles, including trucks, box trucks and trailers
Why do so many healthcare organizations choose us for medical equipment financing? Here are just a few reasons:
- We offer $5,000 to $1.5 million with traditional monthly payments.
- Only need 8 months in business.
- Less than perfect credit is not a problem.
- 600+ credit scores are eligible.
- We offer flexible terms up to 60 months.
- Deferred payments are offered.
- Our streamlined funding process includes very little paperwork.
- Approvals can occur within 24 hours, with 24-hour access to funding.
- Loan interest is tax-deductible.
- Our customer service is excellent.
The bottom line is this: unlike banks, which are often in the business of saying “no,” we’re in the business of saying “yes.” We want to partner with healthcare organizations to support their growth by offering small business loans.
The Takeaway
If you’re charged with operating a healthcare organization, you know it’s important to offer patients the latest medical equipment, to offer the highest level of care and help you remain competitive. Not having access to capital shouldn’t be an excuse to remain stagnant. CSC has worked with many healthcare organizations, so we’ll be delighted to share our expertise while investigating your financing alternatives with you. Why not discover how much you qualify for?