Leases on used scientific equipment are available to all medical facilities including those that are just starting or might be financially challenged. The lease finance rates that your medical facility gets are often considerably much better than what you would get when you decide to seek other forms of financing such as obtaining loans from financial institutions. What therefore should you do so as to get approved for a lease?
Before we get into the details of things you should do to get approved for a lease, you need to be sure that you want used scientific equipment. How do you make this decision? Simply know what the pros and cons of used equipment are.
Used equipment is cheap to obtain. You can get the best high end and most advanced equipment at a cheaper price. Moreover, chances of paying for malfunctioning equipment are minimal unless you go to a supplier who has a very bad reputation. Remember that just because your equipment is new and has just been unwrapped doesn't guarantee that it won't fail. Used equipment is also readily available unlike new equipment which you have to pre-order.
One disadvantage of used equipment is that it does not come with a warranty. In addition, it may not last as long as you would like it to depending on how long it had been in use before you acquired it.
Applying for a lease for used equipment should not be a difficult task but getting approved for it can present quite a challenge for most medical facilities. However, with a few tips, the process can be made less stressful.
The first thing that you should do is check your credit standing. Ensure that you do not have a poor credit status. Many leasing companies are reluctant to lease to medical facilities with damaged credit or no credit score because they consider them to be a risk factor. This problem will however be addressed in another section below.
The second thing that you should do to get approved for a lease is to prepare all the necessary documents. You should have your financial statements in order, your projections for the business, a list of equipment that you need, financial statements, tax returns and any other documents that will help to speed up the approval process.
Earlier it was mentioned that if you have damaged credit or you have no credit score at all, it might be difficult for you to get a lease. The good news is that it is not entirely impossible because at LeaseQ, their online platform will only make soft credit inquiries which will have no impact on your credit score.
LeaseQ is the leading source of hundreds of finance companies which are willing to give you free and instant quotes on equipment that you need. Their financial experts will also give you any assistance that you require and help you to choose the best lease options available.
To see if you qualify for used scientific equipment leasing, click here for a free quote.