Stay Ahead of the Curve with Medical Equipment Financing.

Faster, easier small business financing with one simple application—no bank needed.

Applying is free and won’t impact your credit.

DON’T TAKE OUR WORD FOR IT.

Reviews from business owners in healthcare.

Lendio knows the healthcare industry.

Grow your business with medical equipment financing. Our lenders offer a variety of business loans that can be custom-tailored to fit your needs. Financing medical equipment has never been easier.

Why Lendio?

Quick & easy

Apply in just 15 minutes and get funded in as little as 24 hours

Your partner In business financing

Get personalized support throughout the funding process. Your funding manager will be with you every step of the way to answer your questions and advocate for you.

Offers tailored to your business

Compare loan offers from multiple lenders. With over 75+ lenders in our network, your funding manager will work with you to ensure you get the best rates and terms for your business.

Benefits of medical equipment financing.

Medical equipment financing can significantly boost your healthcare business by allowing you to stay at the forefront of advancements in medical technology, including:

  • Offering the latest treatments and services
  • Increasing efficiency and accuracy of procedures
  • Improving the patient experience

How our loan matching process works.

Lendio is no stranger to funding for the medical industry and the type of capital required to grow a profit-driven enterprise. Our network of preferred lenders makes it easy to submit a single application and receive multiple financing options to compare.

STEP
1

Fill out our simple application.

Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.

STEP
2

We’ll connect you with a funding specialist.

One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.

STEP
3

Compare loan offers.

Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.

STEP
4

Get funded.

We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

Types of business loans for medical equipment.

Equipment financing

Equipment financing or leasing can be used specifically for buying necessary medical equipment. When leasing, the equipment itself is used as collateral for the loan.

TERM LENGTH

1-5 years
MAX LOAN AMOUNT

$5 million

Medical receivables financing

Certain lenders we work with specialize in factoring specific to the medical industry, based on your insurance receivables. These funds can be used for any business expense including medical equipment.

TERM LENGTH

12 months
MAX LOAN AMOUNT

$1 million

Debt financing

Debt financing is the ‘traditional’ business loan. Fixed monthly payments are made over a set period of time until the loan is paid in full. Borrowers can choose between SBA loans and term loans. Learn about medical practice loans.

TERM LENGTH

6 months-25 years
MAX LOAN AMOUNT

$5 million

Line of credit

A business line of credit is like a credit card, but it comes with a much higher borrowing limit, and there is a set amount of time in which a borrower may draw from the available funds. Account holders can use the funds to purchase medical equipment or any other business-related expense.

TERM LENGTH

6-24 months
MAX LOAN AMOUNT

Up to $250,000

Sectors we work with within healthcare.

At Lendio, we understand that the healthcare industry is vast and diverse, encompassing many sectors. We’re dedicated to supporting a wide range of healthcare sectors with our medical equipment financing options.

Private practices – Whether it’s a newly established or well-established practice seeking to update its medical equipment, we’re here to provide the necessary financial support.

Hospitals – Serving a large volume of patients requires state-of-the-art equipment. Our financing options are designed to cater to hospitals’ large-scale needs.

Dental clinics – From dental chairs to digital imaging systems, we provide equipment financing to help dental clinics offer top-notch services.

Veterinary practices – We also extend our equipment financing to veterinary practices, understanding the critical role advanced equipment plays in providing quality animal healthcare.

Pharmacies – Our loan options can aid pharmacies in acquiring the latest technology for dispensing and managing medications more effectively.

Physical therapy centers – Financing can help these centers equip their facilities with modern machines that enhance the quality of therapeutic treatments.

Diagnostic centers – We extend our services to diagnostic centers that require advanced imaging and laboratory equipment to provide accurate and timely results.

By partnering with Lendio, healthcare sectors can leverage our flexible and tailored financing solutions to keep pace with the rapidly evolving medical technology landscape.

FAQs

Medical equipment financing is when a loan is used to purchase medical equipment. Regular payments are made until the entire loan amount is paid off in full.

  

To apply for a small business loan through the Lendio platform, at minimum, businesses need to be at least six months old and have a monthly income of $8,000 or more. A minimum credit score of 600 is also required. 

With equipment financing, you are given the flexibility to purchase or lease a wide range of medical equipment. This includes, but is not limited to, diagnostic imaging machines (like MRI or CT scanners), lab equipment, surgical tools, patient monitoring systems, dental equipment, and even office-related needs such as computers and software. The key idea is that the equipment should be integral to the functioning and service delivery of your healthcare business.

Financing a piece of medical equipment means you’re taking out a loan to purchase the equipment outright. You’ll make regular payments on the loan until it’s paid off, and at the end, you own the equipment. This is a good option if you’re sure you’ll be using the equipment for a long time.

On the other hand, leasing medical equipment involves entering into an agreement to use the equipment for a certain period of time, typically making monthly payments. At the end of the lease, you can choose to return the equipment, buy it, or renew the lease. This is a great option if you want to have regular access to the latest technology without the commitment of owning it.

Yes, medical equipment purchases can indeed count as a tax deduction for your business. One key provision to be aware of is Section 179 of the IRS tax code. Section 179 allows businesses to deduct the full purchase price of qualifying equipment bought or financed during the tax year. If you buy or lease a piece of qualifying equipment, you can deduct the full purchase price from your gross income.

Under Section 179 of the IRS tax code, a wide variety of medical equipment is eligible for tax deductions, including but not limited to medical imaging equipment, lab and diagnostic equipment, furniture and fixtures, computer software, and office equipment.

In 2023, businesses can deduct up to the maximum of $1,160,000.

8 out of 10 Lendio employees* or their families own a small business.

*based on 136 Lendio employees who responded to an internal poll

Quickly Compare Financing Options from Multiple Funders

Applying is free and won’t impact your credit

Talk to a rep at (855) 853-6346
Mon-Fri 7:30am-5pm MST