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Medical Equipment Leasing is a specialized type of financing in Canadian business. When you're firm or medical practice requires specialized medical equipment it is important for you to achieve the proper rates, terms, and structures that meet the needs of your business in relation to the asset you are acquiring. If you have leased medical equipment before you already know that it makes great economic sense – in essence you are matching the cash outflows of leasing , i.e. the monthly payments, to the anticipated useful life and benefits of the asset being required . Many of our clients are also pleased to hear, sometimes for the first time, that a number of other costs associated with leasing can also be bundled into the lease – not the least of which is any software associated with your equipment purchase. Although medical equipment leasing can be called a somewhat specialized type of financing we would point out that all of the traditional benefits of leasing still apply to your medical equipment lease transaction. These include: - Different rates and terms and structures are available based on your firms overall size and credit quality - You clearly are using the equipment to generate services revenue and profit – these will be realized over time so it makes sense to spread out your payments over time - All business these days are about cash flow, so the ability to eliminate or reduce down payments and include soft costs such as installation, service, maintenance, etc are great lease benefits - From a timing perspective most leases can be approved in a matter of a few business days with proper application material in place0 i.e. business info, financials, etc – Payment is of course made directly to your vendor - Your firm may have other sources of financing which therefore remain available for you to utilize for general business purposes - Current market rates are very favorable and lease financing allows you to upgrade equipment or acquire newer more expensive technologies at a fraction of the cash outlay when competed to purchasing. Billions of dollars of medical equipment are leased each year and you should ensure you are working with a trusted, credible and experienced medical leasing advisor to ensure you have the acquisition financing in place that you need. Medical equipment covers a wide variety of assets, so Canadian business owners and financial managers should clearly understand that all assets can be financed – some major asset categories include analyzer's scanners, surgical equipment, x-ray machines, ultrasounds, etc. The bottom line is that if our firm or practice needs the equipment you should realize you have financing solutions in place. Many clients gain both a competitive edge as well as an economic edge in utilizing lease financing for medical equipment – it's a simple case of working smarter with new technologies. Explore your medical equipment leasing options and you will have a strong comfort level around asset acquisition and future success for your fir/practice. Stan Prokop is founder of 7 Park Avenue Financial - www.7parkavenuefinancial.com Originating financing for Canadian companies,specializing in working capital, cash flow, and asset based financing , the 6 year old firm has completed in excess of 45 Million $ of financing for companies of all size . For info and free consultation on Canadian business financing and contact details see: http://www.7parkavenuefinancial.com/Medical_Equipment_Leasing_Canada.html
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