FAQs

All types of equipment, machines, devices, apparatus, IT systems and other assets required by a medical or healthcare provider may be financed with a commercial loan.

Financing all types of equipment can be financed with Leasing, Hire Purchase, Chattel Mortgage or Hire Purchase. Where installation of IT systems is required, it may be included in the same package as the hardware where provided by the same supplier. Where a separate expense, a business loan may suit.

Rates on equipment loans for medical providers vary with the different credit facilities, with different lenders, and with the specifics of the individual business. Rates displayed by lenders may be used as a guide for planning purposes.

Medical equipment may be purchased with the practice’s choice of Leasing, Hire Purchase, Chattel Mortgage or Hire Purchase.

Yes. All assets used by a business enterprise may be financed. This can include furniture, fixtures and fittings.

All commercial credit facilities allow for tax deductions. The way a benefit is realised varies with the choice of facility. Chattel Mortgage and Hire Purchase provide a benefit through asset depreciation. Rent-to-Own and Leasing offer tax deductible monthly payments.

All enterprises with an ABN may be eligible for commercial lending. Different lenders have varying eligibility criteria with turnover figures and time in business.

Asset financing is generally secured with a fixed interest rate which does not change during the loan term.

Subject to individual lender approval, the costs of delivery, installation and commissioning of medical equipment may be included in the financing package.

Yes. Practices may apply for a medical equipment loan before a purchase decision is made or an order placed. The application is conditionally approved with offers finalised when the specific details are available. When purchasing from an overseas supplier, variations may need to be allowed for fluctuations in exchange rates between the time of applying and an invoice being received.