In any business, you have to be able to keep up with technology and the changes in the industry in order to have the most success possible. Of course, keeping up with technology can get expensive for a dental or medical office. The latest equipment doesn’t come with a small price tag, which often means that smaller practices aren’t able to keep pace with the larger offices that can afford such an investment. What’s a dental office to do?
Fortunately, dental equipment financing is available to assist with staying ahead of the technology game. There are resources to help you, and you should take advantage of them to give your patients the best solutions for their dental care. Here’s what you need to know about leasing dental equipment.
Equipment Leasing 101
Leasing equipment allows you to set up what is essentially a rental agreement for any dental equipment that your office needs. The contract will include an agreed-upon monthly rental fee (or other lease terms) and you will be able to implement the equipment that you need in your office without paying full price and purchasing it outright. At the term of the agreement, you’ll be able to choose to return the equipment, buy it for the balance, or even extend the lease agreement.
Qualifying for Equipment Financing
The process of being approved for dental equipment financing is not like traditional financing. The lender will use the equipment itself as the collateral, which means you don’t need to have strong business credit or even any collateral of your own. If a piece of equipment maintains value and is critical to your operations, there’s a good chance you’ll get approved.
By taking advantage of dental equipment leasing, you’ll be able to give your patients the best technology and solutions for their dental care. Plus, you’ll have a cost-effective way to run your business and can spend your money elsewhere that it is needed.