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Business owners love that Lendio helps them get funding without the headaches.
Medical equipment financing, fast.
Apply for financing today to build your business, upgrade your equipment, or fund your next project.
Applying is free and won't impact your credit*
Proven medical equipment lending expertise.
Get the answers and the funding you need with support all along the way.
$16 billion
in small business funding facilitated in the last decade.
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50% repeat customers.
75+ lenders
providing broad coverage for small business lending.
*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
How much can I qualify for?
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
Lendio knows the medical equipment business.
Grow your business with medical equipment financing. Our lenders offer a variety of that can be custom-tailored to fit your needs. Financing medical equipment has never been easier.
Bridge capital between supply orders
Purchase or lease advanced medical equipment
Refinance existing debt
Pay your team
Invest in marketing
What type of commercial real estate funding is best for your business?
These are the most popular types of funding that other medical equipment-based businesses qualify for through Lendio.
Business Line of Credit
Access available funds whenever you need them, and only pay interest on what you draw.
Revenue-Based Financing
Access funding based on your future revenue and repay with regular payments.
Business Term Loan
Borrow a lump-sum with a set repayment schedule, and get funding quickly with online options.
What types of business loans are available to medical equipment businesses?
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
FAQs
Find answers to some commonly asked questions in the medical equipment industry.
What is medical equipment financing?
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.
What are the requirements to get medical equipment financing?
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.
What kind of equipment can I purchase or lease with equipment financing?
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.
What is the difference between medical equipment financing and leasing?
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.
Does my medical equipment purchase count as a tax deduction?
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.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.