Equipment
Financing
Working
Capital
Practice
Acquisition
Expansion
and Improvements
Debt
Consolidation
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Equipment
leasing is the preferred method of financing for most medical and healthcare
equipment purchases. Equipment leasing allows you to finance 100% of the
equipment purchase price including ancillary costs like software, training,
installation and shipping. Leasing can also allow for flexible terms and
payment structure, including stepped payments of small monthly payments
at the beginning of the lease with larger payments when the equipment begins
to generate income.
For established practices equipment can be financed with a one-page application and minimal documentation. For start up businesses or challenged credits additional information may be requested.
This information may include:
- Business
and personal tax returns for the previous two years
- Personal Finance Statement (PFS)
- Recent bank statements or a bank reference
This additional information may be required to achieve the best possible financing package for your business and can often make a difference in your monthly payment amount.
Working Capital loans
Working Capital loans offer flexibility when your practice needs several improvements combined with equipment purchases, increased staffing, or other miscellaneous needs which normally would not be financed on their own. The capital acquired this way is not earmarked for a specific purpose except in the general way that it must be used for business purposes.
Practice Acquisition loans / Practice Expansion loans
It is best to work with a lending institution like PFC, Inc, that specializes in the financial needs of medical professionals when financing a new practice, expanding your current one or financing a practice acquisition because certain factors such as projected sales, existing business plan, demographics of service area, etc… can improve your ability to get approved as well as affect your rate. PFC knows what questions to ask so that you get the funds you need to grow.
Small Business Administration loans (SBA)
The SBA, an agency of the federal government, does not actually provide loans, but guarantees the loans made by preferred SBA lenders when borrowers meet specific criteria. Because of this guarantee, loans can be made for longer terms and with lower payments than a traditional bank loan.
Most business purposes can qualify for a long-term, SBA
guaranteed loan, including:
· Commercial real estate purchase
· Construction
· Business acquisition or expansion
· Equipment purchase
· Refinance/Debt Consolidation
· Working Capital
SBA loans usually have a term from 7-25 years depending on the purpose
of the loan, and the rate is based on the prime rate at the time of the
loan, the borrower’s credit score and the purpose of the loan.
PFC, Inc has the access and the know-how to help you qualify for an SBA loan at the best possible rate. Our FREE consulting services can help you determine if an SBA loan is the best option for your business, or whether a more tailored financing program would better fit your needs.
