Medical Equipment Finance

Receive Medical Equipment Financing For Your Healthcare Business

Give your patients the care they deserve with the right medical equipment.

For over 30 years our Southshore Finance team has worked closely with healthcare professionals across Western Australia, seeing first-hand how receiving the right medical finance can make a difference to business outcomes and quality of care. That’s why our specialist medical finance division is dedicated to helping healthcare professionals acquire the latest medical equipment. We help local businesses secure medical loans, leasing and funding solutions without straining their cash flow.

Our tailored solutions help a full range of medical specialists and businesses including general practitioners, dentists, pharmacists, and physiotherapists to provide the highest level of patient care possible. With flexible financing options suited to their specific needs and circumstances, we make it easy for these businesses to get the financial help they need.

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Phone: 08 9474 1999
Fax: 08 9474 1542

What is Medical Equipment Finance?

Medical equipment finance is a loan or lease that helps healthcare businesses and medical practitioners acquire equipment and assets that help their practice run effectively.

Medical equipment funding and leasing covers a wide range of healthcare-related equipment, covering everything from basic diagnostic tools to complex imaging systems. Some of the equipment which may be covered by a medical equipment loan or lease include:

    • New state-of-the-art medical technology that allows your business to provide new services, treatments or diagnoses.
    • Upgraded versions of your current equipment that provide a better patient experience and competitive advantage.
    • Replacement equipment to take the place of old, outdated or damaged medical equipment.
    • Starting and fit-out equipment to make sure your business has everything it needs to run successfully.

Types of Medical Equipment Financing

Medical equipment finance lease

A finance lease for medical equipment has the ownership of the equipment rest with the lessor rather than in your business name. When the medical equipment lease expires you may make an offer to acquire ownership of the medical asset for the residential amount or return the good.

Medical equipment operating lease

An operating lease is suitable for when you don’t believe you will need the medical equipment throughout its lifespan. In this arrangement, the lessor retains ownership of the equipment throughout the lease period. Your business can then return the equipment at the end of the period or purchase it for an agreed price.

Medical equipment secured loan

With a medical equipment loan, you have full ownership of the medical equipment and pay off the loan over time. Here, depreciation deductions can be claimed on the equipment for tax purposes.

 

Which Medical Equipment Financing Option is Best?

The medical financing option you choose depends on your business operations, industry, goals, cash flow, and more. Our specialised team of medical finance brokers can analyse your business position holistically and recommend the best course of action for your medical equipment financing.

How To Get Started With Medical Equipment Finance

Getting started with medical equipment financing is a straightforward process with our medical finance division ready to help every step of the way.

Step 1

Ensure that your business meets the basic qualification criteria, which includes:

    • An Australian Business Number (ABN) – registered for a minimum of 2 years (24 months).
    • Goods and Services Tax (GST) – registered for a minimum of 2 years (24 months).

Step 2

Engage our Southshore Finance team. Our team is ready to start working with you at any time, to fast-track the process we recommend preparing the following:

    • Proof of business registration
    • Basic financial records
    • The relevant medical license
    • An idea of the asset(s) you wish to purchase and desired outcomes

To secure your medical loan or lease you may also need to prepare bank statements and cash flow forecasts. If this is the case, our team will let you know, and work closely with you to ensure that all paperwork is up to standard.

Step 3

The third step is when it’s time for our specialist medical finance division to get the ball rolling on your medical equipment financing. In this step, our highly experienced team of medical finance brokers will conduct an in-depth analysis of your situation and provide you with a custom solution that meets your financing and business needs as well as the regulations and environment of your healthcare industry.

With a strong track record of assisting in medical equipment loans and financing, you can trust our team to provide you with the right solution for your business.

Contact Southshore Finance

If you’re looking to secure a medical equipment loan for your healthcare business, or interested in learning how a medical equipment loan can help your business, talk to our team today.

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Medical Finance FAQs

 

Why do I need a medical finance specialist?

As one of Perth’s most established commercial finance brokers, we can help to make the entire financing process simple for you, freeing up the valuable time you need to focus on your patients.

What does medical finance cover?

Solutions available to medical professionals can include medical practice loans, medical fit-out loans, asset finance for cars and equipment, commercial property lending and other flexible financing opportunities.

What are the benefits of medical financE?

  • Improve your cashflow

    Overcome capital constraints with a variety of medical financing options available to you.

  • Access the latest medical technology

    Do your best work for yourself and your patients with the ability to invest in new technologies and digital workflows.

  • Improve patient care

    Create the patient experience you’ve always wanted to provide with a practice or pharmacy fit-out.

  • Offer a dynamic service

    Healthcare financing provides the ability to adapt to the fast pace of the medical industry, from patient demands to market fluctuations.

Can I get a better deal with a finance broker than I can get myself?

Yes, you can almost always get a better deal with experienced brokers like the Southshore Finance team. We deal with multiple lenders to compare and obtain the best available option for our clients across all professions, including medical professionals.

How long does the medical finance process take?

Every application and situation are different, so exact timeframes are hard to narrow down. However, with a team of 7 business finance professionals and a collective 200+ years of experience, we take pride in our speed and precision in servicing our clients.

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