Comprehensive Guide to Veterinary Equipment Financing.
Veterinary Equipment Financing & Leasing Solutions
Looking to upgrade your veterinary practice equipment and machinery? At Liberty Capital Group, Inc., we understand the importance of having reliable equipment for your practice. Scanner, Xray or other essential equipment can be profitable done in-house. Can these essential assets that allow you to efficiently diagnose and operate without lag time can be life and death for your patients.
Without financing, sometimes these equipment can be unaffordable. Having access to capital allows you to spread it out over time at a more affordable monthly payment while benefiting from tax deductibility and other leasing benefits.
Credit Requirements for Start Up Veterinary Equipment Financing:
For startup veterinary practices, we require:
- Business license or active business entity registration.
- Personal guarantees from all owners.
- Minimum 625 credit score.
- No bankruptcies in the last 7 years.
- No unresolved tax liens.
- Money for down payment
Credit Requirements for established Veterinary Equipment Financing:
For established veterinary practices, we require:
- Practice is Active
- Personal guarantees from all owners –
- Depending on the practice size and time in business corp-only could apply
- Minimum 600 credit score.
- No bankruptcies in the last 7 years.
- No unresolved tax liens.
Financing Options for Veterinary Equipment:
We offer various financing options tailored to your needs:
- Equipment Financing: Spread the cost of the equipment or machinery over time with fixed payment terms.
- Equipment Leasing: Lease a veterinary equipment with off-balance sheet financing options like Fair Market Value (FMV) leases.
Additional Financing Benefits:
- $99 for the First 6 Months: Get started with minimal upfront costs.
- 90-Day Deferred Payments: Pay nothing for the first three months.
- Working Capital Loans: Access short-term cash flow solutions for immediate needs.
Affordability is key when it comes to acquiring a veterinary equipment. Our financing options offer the flexibility you need to manage your cash flow effectively while investing in the equipment necessary to grow your business. With longer loan terms of up to 60 months, we can help you reduce your monthly payments and make owning a high-ticket item like a CT Scanner, MRI Equipment more manageable.
Compared to traditional lenders, we offer several advantages:
- Corp-Only Available: We cater to businesses of all sizes, including corporations.
- Up to 120% Equipment Cost: Our financing solutions can cover not only the equipment cost but also soft costs associated with acquisition.
- Fast Approval Process: With our simple one-page application, you can get Funding Approval as quickly as the next day.
- No Down Payment Required: Qualified borrowers may access financing without the need for a down payment.
- Lowest Rates: We offer competitive rates for qualified borrowers, ensuring you get the best financing terms available.
- No Pre-Payment Penalties: Enjoy the flexibility of paying off your loan early without any penalties.
- Dollar Buyout or FMV?
Preferred Veterinary Equipment Vendors:
Need help finding reliable veterinary equipment vendors? We’ve got you covered. Let us know your requirements, and we’ll help you find who can meet your needs.
Get Started Today!
Ready to invest in new equipment for your practice? Apply online today or call our Funding Specialists at 888-588-4128 for personalized assistance. Let Liberty Capital Group, Inc. be your reliable funding partner for all your roll-off truck financing needs. Apply Now!
Veterinary Equipment Financing - Application Only up to $250,000
Veterinary Equipment Financing – Application Only up to $250,000 is a streamlined financing option that allows veterinary practices to acquire equipment quickly and efficiently without the need for extensive financial documentation. Here’s a detailed breakdown:
What is Veterinary Equipment Financing – Application Only?
Definition: This type of financing allows veterinary practices to apply for equipment financing with minimal paperwork. Typically, only an application form and a few supporting documents are required, up to a specified limit, which in this case is $250,000.
Speed: The streamlined process enables faster approvals and quicker access to funds, allowing practices to acquire necessary equipment without lengthy delays.
Flexibility: This option is ideal for practices that need to upgrade or expand their equipment inventory without the hassle of extensive financial vetting.
Benefits
- Simplified Process: Minimal documentation reduces the time and effort required to apply for financing.
- Quick Approval: Faster decision-making process compared to traditional financing methods.
- Access to Modern Equipment: Enables practices to keep up with technological advancements by acquiring new equipment promptly.
- Preserves Working Capital: Frees up cash flow for other operational needs.
Covers many types of equipment we can finance.
Easier to get than a traditional business loan
Less paperwork
Fast processing time
Less stringent requirements for qualifying
No collateral needed, the equipment is the collateral
May require less credit score for you and your business as well
Understanding Veterinary Equipment Financing
Veterinary equipment leasing is a popular option for veterinary practices looking to acquire the latest technology without the substantial upfront cost. Here’s an overview of the benefits, types of equipment, average costs, and manufacturers.
Benefits of Veterinary Equipment Leasing
- Cost Efficiency: Leasing spreads out the cost over time, which can be more manageable for many practices compared to a large upfront purchase.
- Access to Latest Technology: Leasing allows practices to upgrade to newer equipment as technology advances, keeping them competitive.
- Tax Advantages: Lease payments can often be deducted as business expenses, providing potential tax benefits.
- Conservation of Capital: Funds that would be used for purchasing equipment can be preserved for other business needs or investments.
- Fixed Payments: Leasing agreements typically come with fixed monthly payments, aiding in predictable budgeting.
Types of Equipment that Can Be Leased
- Diagnostic Imaging Equipment
- X-ray machines
- Ultrasound machines
- MRI Equipment and CT scanners
- Laboratory Equipment
- Blood analyzers
- Chemistry analyzers
- Hematology analyzers
- Surgical Equipment
- Anesthesia machines
- Surgical tables
- Electrosurgical units
- Dental Equipment
- Dental X-ray systems
- Ultrasonic scalers
- Dental units
- Monitoring and Treatment Equipment
- Patient monitors
- Infusion pumps
- Laser therapy units
- General Practice Equipment
- Exam tables
- Lighting
- Sterilizers and autoclaves
Average Costs of Veterinary Equipment
- X-ray Machines: $25,000 – $75,000
- Ultrasound Machines: $20,000 – $60,000
- MRI Machines: $150,000 – $1,000,000
- Blood Analyzers: $5,000 – $40,000
- Anesthesia Machines: $5,000 – $20,000
- Dental Units: $3,000 – $15,000
- Patient Monitors: $2,000 – $10,000
Manufacturers of Veterinary Equipment
- Diagnostic Imaging
- Idexx Laboratories: Known for imaging and diagnostic equipment.
- Sound (a VCA company): Specializes in digital radiography and ultrasound.
- Laboratory Equipment
- Abaxis (now part of Zoetis): Provides comprehensive diagnostic solutions.
- Heska Corporation: Offers blood analyzers and diagnostic instruments.
- Surgical Equipment
- Midmark: Provides anesthesia machines and other surgical equipment.
- B. Braun Vet Care: Known for infusion systems and other surgical tools.
- Dental Equipment
- Dentalaire: Offers a wide range of veterinary dental products.
- Midmark: Also provides comprehensive dental care units.
- Monitoring and Treatment Equipment
- Bionet America: Known for patient monitoring systems.
- Vetland Medical: Offers a variety of veterinary medical equipment.
Leasing Companies Specializing in Veterinary Equipment
- Americorp Financial: Provides leasing options tailored to the veterinary industry.
- Bank of America Practice Solutions: Offers financial solutions for veterinary practices.
- First Financial Equipment Leasing: Specializes in medical and veterinary equipment leasing.
Leasing veterinary equipment is a strategic choice for many practices, balancing the need for advanced technology with financial flexibility.
Our small business financing experts are available to guide you through the funding Process.
Despite technological advancements, loans, especially in veterinary equipment financing, predominantly involve personal interaction with an underwriter to ensure as fraud prevention. Automation may not suffice, particularly when dealing with a third party like the vendor and the complexities of equipment purchase. In such scenarios, business owners are often better served by collaborating with a Business Loans Broker like Liberty Capital Group, Inc., who can steer them in the right direction.
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Apply Online
Complete our quick online application. Application takes 5 mins.
Review Your Options
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Get Funds
Money will be deposited in your account in as little as 24 hours.
Liberty Capital accommodates clients with to financing options that need very little capital outlay.
Ø $99 for the first 12 months, requiring only a nominal start-up fee.
Ø 90-Day Deferral, offering zero payments for the initial three months
Ø Seasonally Varied plans, aligning payments with fluctuating cash flows.
Ø “0% Interest” for 24 Months with a 20% buyout, applicable equipment
Ø “Stepped Down” Leases, with payments reflecting depreciation.
Ø Fast online approvals for amounts up to $150,000.
Ø Stabilize cash flow during the off-season for landscaping business with 90-day deferred program.
Ø Get $0 down payment for Landscape Equipment Financing.
Ø Get monthly payment up to 72 months for new trucks and trailers, mulcher, chippers, or grinders.
Ø Down payment from 5% to 40% for clients with bad credit, prior delinquencies.
Take advantage of new opportunities to grow or expand while leveraging lender’s funds.
Did you know 85% of small businesses seek capital multiple times a year for growth?
Since 2004, many customers have stayed with us for over a decade. Even if you’re still with the same lender, our options have evolved to offer better loans. If you have questions about renewals or equipment financing, we have solutions for you.
We’d love to work with you. We can provide additional financing without paying off your current lender or help pay it off if the balance is low. Just send us 4 months of bank statements for a pre-approval analysis and free multiple funding offers.
What is Equipment Financing?
· Purpose: To purchase or lease business-related equipment.
· Features: Typically secured by the equipment itself, with fixed interest rates and repayment terms that match the useful life of the equipment.
· Benefits: Enables businesses to acquire essential machinery and tools without large upfront costs.
What is Equipment Leasing?
· Purpose: To acquire the use of equipment without purchasing it outright.
· Features: Agreements to lease equipment for a specified period with fixed payments, with options to purchase at the end of the lease.
· Benefits: Lower upfront costs, potential tax benefits, and the ability to upgrade equipment periodically.
· There is a buyout when equipment leasing. It can be Dollar Buyout or Lease to own, or FMV true leases, 10% FMV.
Equipment Leasing is the best way to go about it conserves cash and protecting from obsolescence. The best thing about Veterinary Equipment Leasing is that you also enjoy tax benefits and the low monthly payment it affords you, same as the person that buys the equipment, most of these transactions will not appear on personal credit since it’s a business loan.
Whether you decide to lease, borrow, or buy out right, you will find yourself in need to buy new or used equipment, whether you utilize equipment leasing and financing is all up to you. However, cash is king as we always say, it’s not a wise idea to use cash on a fixed asset that can be leveraged. Cash is more easily accessible through your own checking account than having to use the asset to get cash later.
Trusted funding source for over 20 years, Liberty Capital can guide you to the right financing. Cashflow is King once it’s paid you can’t cash out of business equipment. Fixed asset should not be paid with liquid cash. Liberty Capital understands that it’s not just equipment financing it’s all about the cashflow.
What do I need to apply?
Ø ONLINE APPLICATION: You can fill out our application, upload and authorized us to process. We do soft-inquiry, and our lender will do hard inquiries once you are approved.
Ø Equipment Invoice or Quote for the equipment you want to buy. Multiple vendors accepted. We’ll lump them into one monthly payment for you.
Ø Banks statements (3-4 months)
Once we have your application, your funding advisor will reach out to discuss the process, timeline, and expectations. We’ll then make an offer and if accepted, we’ll reach out to the vendor for payment instruction. We can pre-fund any vendor up to 100%. We can do used equipment up to 60 months.
Budget Wisely:
· Ensure monthly payments fit within your business budget.
· Consider the total cost of ownership, including interest.
Understand Terms:
· Clarify any unclear terms before signing.
· Know the implications of late or missed payments.
Shop Around:
· Compare offers from multiple lenders.
· Look for the best combination of interest rates and terms.
Plan for the Future:
· Consider the lifespan of the equipment.
· Ensure the financing term aligns with the expected use of the equipment.
Leverage Tax Benefits:
· Consult with a tax advisor to understand how to maximize tax deductions and benefits related to equipment financing.
· Section 179 Bonus Depreciation.