Unlock the secrets to financing medical equipment with assets

Medical practices in Brunswick face unique challenges when acquiring essential equipment. From diagnostic machines to surgical instruments, the cost of medical devices can strain practice budgets. Asset finance offers a practical solution, allowing healthcare professionals to access the equipment they need while preserving working capital.

Understanding Asset Finance for Medical Equipment

Asset finance enables medical practices to acquire equipment without the immediate financial burden of outright purchase. When applying for Asset Finance, practices can access Asset Finance options from banks and lenders across Australia, providing flexibility in choosing the most suitable terms for their business needs.

Medical equipment financing typically covers:

• Diagnostic imaging equipment
• Laboratory instruments
• Patient monitoring systems
• Dental chairs and specialised machinery
• Office equipment for administrative functions
• Practice vehicles for mobile services

Key Finance Options for Medical Practices

Chattel Mortgage

A chattel mortgage allows practices to own equipment immediately while using it as collateral. This arrangement provides tax advantages, as practices can claim depreciation and interest as business expenses. The interest rate varies based on factors including loan amount, equipment type, and practice financial position.

Hire Purchase Agreements

Hire Purchase arrangements involve fixed monthly repayments over the life of the lease. Practices gain ownership upon final payment completion. This structure helps manage cashflow by spreading costs over time, making expensive medical devices more accessible.

Benefits of Asset Finance for Medical Equipment

Preserve Working Capital

Rather than depleting cash reserves for buying new equipment, practices maintain liquidity for operational expenses, staff wages, and unexpected costs. This financial flexibility proves crucial for practice sustainability.

Tax Advantages

Asset finance arrangements often provide tax benefits through depreciation claims and interest deductions. These advantages can significantly reduce the effective cost of equipment acquisition.

Access to Latest Technology

The medical field evolves rapidly, with new devices offering improved patient outcomes. Asset finance enables practices to stay current with technological advances without substantial upfront investment.

The Application Process

The streamlined application process for medical equipment finance involves several key steps:

1. Equipment Selection: Identify specific medical devices required for practice enhancement
2. Financial Assessment: Review practice financials and determine appropriate loan amount
3. Lender Comparison: Evaluate various loan options from multiple lenders
4. Documentation: Prepare necessary financial statements and equipment quotations
5. Approval and Settlement: Complete the finance arrangement and equipment delivery

Factors Affecting Finance Approval

Lenders consider multiple factors when assessing medical equipment finance applications:

• Practice trading history and financial stability
• Equipment type and resale value
• Borrowing capacity and existing debt commitments
• Practice location and patient demographics
• Professional qualifications and experience

Upgrading Existing Equipment

Many Brunswick practices require upgrading existing equipment to maintain competitive service levels. Asset finance accommodates these needs, whether replacing outdated diagnostic machines or expanding practice capabilities with additional devices.

Upgrading considerations include:

• Current equipment condition and remaining useful life
• Technology improvements in newer models
• Patient demand for advanced services
• Maintenance costs of existing devices

Choosing the Right Finance Partner

Working with experienced finance brokers provides access to comprehensive loan options across multiple lenders. Professional brokers understand medical practice requirements and can match specific business needs with appropriate finance structures.

Capra Financial Group specialises in connecting Brunswick medical practices with suitable lenders, ensuring optimal terms for equipment acquisition. Our team understands the unique challenges facing healthcare professionals and works to secure finance solutions that support practice growth.

Whether acquiring new diagnostic equipment, expanding practice capabilities, or upgrading existing devices, asset finance provides the financial flexibility needed for practice development. The right finance arrangement enables medical professionals to focus on patient care while building sustainable, modern practices.

Call one of our team or book an appointment at a time that works for you to discuss your medical equipment financing requirements.