Financing & Leasing Solutions for Healthcare Providers
Top 5 Commercial Vehicles for Healthcare Services.
- Patient Transportation – Ambulance
- Purpose: Safely transporting patients to and from medical appointments, rehabilitation sessions, or treatment centers.
- Impact: Ensures timely access to healthcare, improving patient outcomes and satisfaction.
- Medical Equipment Delivery – Cargo Vans
- Purpose: Delivering medical supplies, equipment, and medications to patients’ homes.
- Impact: Enhances patient care by ensuring necessary medical tools are readily available at home.
- Non-Emergency Medical Transport (NEMT) – Commercial Vans
- Purpose: Offering transportation for non-emergency medical appointments, especially for elderly or disabled patients.
- Impact: Improves healthcare access for patients with limited mobility or transportation options from one doctor to another.
- Mobile Clinics – Converted Mobile Trailer into Clinic
- Purpose: Operating fully equipped mobile clinics to deliver medical care to remote or underserved areas. You can think of Red Cross.
- Impact: Increases healthcare accessibility and outreach, especially in rural communities.
- Mobile MRI Diagnostic – Converted Trailer into a MRI Diagnostic Clinic
- Purpose: Operating fully equipped mobile diagnostic business to deliver medical care to remote or underserved areas or to provide a mobile service for local clinics and healthcare providers.
- Impact: Increases healthcare accessibility and outreach, especially in rural communities.
Why Choose Liberty Capital Group, Inc. for your Healthcare Equipment Financing?
Affordability is key when it comes to acquiring any type of funding. Our financing options offer the flexibility to manage your cash flow effectively. If funding is necessary to grow your business, with a wide range of loans, we can help you reduce your monthly payments and make owning a high-ticket item and provide liquidity through line of credit or term loans.
Equipment financing offers 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.
Credit Requirements for Start up Financing for Healthcare Providers:
For startup medical management companies, 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.
Financing Options:
We offer various financing options tailored to your needs:
- Equipment Financing: Spread the cost over time with fixed payment terms.
- Equipment Leasing: Lease any 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.
Equipment Financing For Healthcare Application Only up to $250,000
What’s the Credit Parameters and Requirements for any Start Ups.
Well, let’s break it down by type of loan first. Each loan types whether Secured Loans or Unsecured Loans will have varying parameters. Understanding the credit parameters and financial requirements for each loan type will allow you to narrow down based on the needs as well.
It’s crucial for startups seeking equipment financing to utilized equipment financing rather than using cash on hand or line of credit or business loan that can be used for other fixed assets such operating capital for payroll, inventor. Here’s what you need to know about the types of options a startup business can expect:
- Down Payment: For startups, there is no such thing as a $0 down payment. You must have “skin in the game.” This typically means providing a down payment, which can be higher for those with lower credit scores.
- Security Deposit: Lenders often require a security deposit to mitigate their risk, especially for startups with sub-prime credit.
- First and Last Month’s Payment: Be prepared to pay the first and last month’s lease payments upfront.
- Administrative Fees: An admin fee may also be required to cover the costs of processing your lease application.
- Balloon Payment or Buyouts: There will be lenders who will be willing to fund startups for equipment but sometimes they will only offer FMV, TRUE LEASE or CAPITAL LEASE with a buyout.
Covers many types of equipment we 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
Different Financing Types for Home Healthcare Industry
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Time in Business Any |
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Starting Rates 12% – 36% |
Starting Rates 8% – 18% |
Starting Rates 8% – 36% |
Starting Rates <10% |
Starting Rates 7% – 18% |
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When it comes to equipment financing for healthcare providers, Liberty Capital Group, Inc. offers several advantages over traditional lenders:
- Corp-Only Availability: We cater exclusively to corporations, providing tailored financing solutions for businesses.
- Up to 120% Equipment Cost Coverage: Our financing options can cover not only the equipment cost but also associated soft costs.
- Flexible Funding Amounts: Access financing ranging from $250,000 with a simple one-page application to $5,000,000 with financial statements.
- Quick Approval Process: Benefit from next-day funding approval, ensuring minimal downtime for your operations.
- Approved Equipment Vendors: We work with approved equipment vendors, streamlining the acquisition process for our clients.
- Lowest Industry Rates: Enjoy competitive rates for qualified borrowers, reducing the overall cost of financing.
- Eligibility for New and Used Equipment Financing: Whether you’re purchasing new or pre-owned equipment, we’ve got you covered.
- Minimal Impact on Personal Credit: Our financing solutions do not appear on personal credit reports, preserving your personal credit history.
- No Pre-Payment Penalties: Enjoy the flexibility of paying off your loan early without incurring penalties.
Business Financing for Healthcare Industry
Top 7 Business Loans Every Healthcare Provider Should Know.
Businesses fail within the first three years due to lack of working capital. Don’t use your working capital for fixed assets, construction buildout, or for equipment. Working capital to is priceless ammo in the bank for payroll, inventory and other unforeseen expenses. If you need working capital, we can do that too.
Here’s a detailed overview of the top Business Loans and financing options every business owner should consider before using your own working capital.
1. Business Term Loan
Purpose: To borrow a term loan to finance specific large projects or investments.
Features: Lump sum disbursement with fixed or variable interest rates and a predetermined repayment schedule. Predictable payments and terms.
Benefits: Offers predictability with fixed payments and is often used for expansions, renovations, or substantial purchases. Use on a per project or venture basis without giving out equity or profit.
2. Equipment Finance Agreement
Purpose: To finance outright any 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 of equipment finance agreement: Enables businesses to acquire essential machinery and tools without large upfront costs. Unlike Fair Market Value or Dollar Buyout Leases, Equipment Finance Agreement (EFA) doesn’t have any end of term buy out option. You automatically have ownership of the asset upon completion of the agreed term.
Purpose: Provides access to a line of credit that businesses can draw from as needed for various purposes.
Features: Revolving credit, like a credit card, with flexible repayment terms. Interest is paid only on the amount used and time borrowed.
Benefits: Ideal for managing cash flow, covering short-term expenses, or handling emergencies. Peace of mind is priceless for small business owners.
4. Commercial Loan
Purpose: General-purpose loan for business expenses, often used for real estate, equipment, or expansion.
Features: Can be secured or unsecured, with varying terms and interest rates depending on the lender and business creditworthiness. Long-term low-rate loans.
Benefits: Larger loan amounts with potentially lower interest rates for qualified businesses. Have tight Loan-to-value is in place unlike the other loans that don’t consider collateral.
6. Business Cash Advance – Merchant Cash Advance (Future Receivable Sale)
Purpose: Merchant Cash Advance provides a lump sum payment in exchange for a portion of future revenue or credit card sales. Terms can be daily, weekly and short-term. However, you have quick access fast and renews when it’s paid down.
Features: Repayment is made through a percentage of daily credit card transactions, with no fixed term. Or, fixed daily or weekly with a fixed term. Terms typically are short and approval is based on you’re the last 3 to 4 months of revenue.
Benefits: Fast access to capital and repayment is flexible based on sales volume. Credit not a factor. Industry is not a factor for some lenders. Most can qualify with very little documentations.
7. SBA LOANS
Purpose: Small Business Administration-backed loans for various business needs, including working capital, equipment, and real estate.
Features: Longer repayment terms and lower interest rates due to government guarantees. Includes popular programs like 7(a) loans and 504 loans.
Benefits: Harder qualification criteria and favorable terms compared to traditional loans. Must have skin in the game. Need good credit, down payment or additional collateral.
Liberty Capital can guide you to the right loan for both short-term and long-term funding solutions. Let us help you find the ideal funding option efficiently, saving you time and effort. Liberty Capital Group, Inc. offers a range of financing solutions tailored to meet the diverse needs of business owners.
Get Started Today!
If you’re seeking a reliable financing partner for your healthcare business, look no further. Apply online today or call our Funding Specialists at 888-511-6223 for personalized assistance. Let Liberty Capital Group, Inc. empower your business with comprehensive financing solutions tailored to your requirements. We’ve been in business 20 years so we’re not just a fly-by-night company.
Our small business financing experts are available to guide you through the funding Process.
Despite technological advancements, loans, especially in crane and boom truck and 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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