loans for medical devices

Med Spa Financing

Loans for medical devices can mean many different things. Aesthetic and medical device financing for:

  • Plastic Surgeons
  • Med Spas- MD and non-MD owned
  • Dermatologists
  • Tattoo Removal
  • Laser Hair Removal
  • Skin Tightening
  • Fat Reduction
  • Startups

Medical and aesthetic equipment technology is always changing, upgrading, and getting better.  Make sure your medical devices are always up to date with a financing solution that works for you. Usually, in order to maintain a competitive level, it is necessary to invest in new equipment and technology. As a rule, a commercial organization that provides medical and aesthetic services and is actively developing faces the question of finding the most profitable way to acquire the necessary medical equipment. The acquisition of new medical equipment will allow an entrepreneur not only to expand the scope of the company, but also significantly increase profits by providing more services.

Today, the most profitable option is the acquisition of equipment through loans for medical devices or leasing. More and more companies in the world prefer leasing of medical equipment. Equipment loans and leases are effective tools for long-term financing. It immediately expands the capacity of health care institutions to provide quality services to patients. At the same time, payments are distributed over the entire period of the leasing contract and become less burdensome for medical institutions. Equipment loans and leases have several advantages when concluding a deal. Thus, leasing companies often take a more loyal approach to customer valuation, since the leased item itself, medical equipment, serves as collateral. It also becomes the main security of the transaction, so additional security is not required. In addition, the lease payment in full refers to the cost, thereby reducing the taxable base for income tax.

National models of financing health care systems or combinations of funding sources are constantly changing and depending on the capabilities, prerequisites and social values of the state. Whatever model is used, debate about its effectiveness is inevitable. There is not a single health care system that systematically and on an ongoing basis would be the best in providing affordable and cost-effective medical care. Therefore, and also because of the high costs associated with the transition to new models, developed countries rarely significantly change their health financing systems. Nevertheless, they are introducing some additional useful elements from other models, due to which, at present, health financing systems in developed countries are mixed – each of them contains elements from other models.

There are various areas of medical spas which are involved in this matter. Radio frequency skin tightening, non-surgical liposuction, Laser and Intense Pulsed Light (IPL) Hair Removal, facial cosmetology are popular and prosperous branches of aesthetic cosmetology. Facial rejuvenation and facial cosmetology is the leading direction in cosmetology. Since a person’s face is not immune to external factors, we pay this body part a particular attention. Not only women do, but men also.

Equipment for cosmetic procedures is a whole range of devices that can be figuratively divided into injection and non-injection techniques. Without an injection cosmetology it is possible to perform such procedures as: skin cleansing, skin rejuvenation, improving tone and elasticity, improving skin texture, treating various cosmetic issues and combating photoaging. Using hardware cosmetology, you can offer effective procedures to the client. As to figure correction, the choice of hardware techniques should be based on an understanding of the capabilities of the equipment and should have an integrated approach.

Loans for medical devices for laser cosmetology is the equipment, without which it is impossible to imagine a modern spa center. The innovative technologies are applied in its practice to solve almost all aesthetic and cosmetological problems. With the help of laser technology, a dermatologist has practically no restrictions. With its help he effectively and efficiently copes with minor aesthetic defects and with serious clinical indications, up to the removal of various pathologies without surgical intervention. If you are just opening or you already have a successful business in the beauty industry, at some point you will face the task of buying facial aesthetic medicine equipment.

Such a need for any modern cosmetology cabinet is dictated by demand and competition. Certainly, facial cosmetology devices cannot 100% compete with plastic surgery, but a competent and integrated approach in equipping a beauty treatment room will allow the client to offer a result without a rehabilitation period. The price of facial cosmetology equipment depends on the capabilities of each individual apparatus, the technical characteristics and the status of the manufacturer. Full consultation and diagnostics, hardware techniques, qualification of a cosmetologist and the symbiosis of these components is the key to success of the efficiency and effectiveness of the prescribed techniques.

As they are meeting the needs and desires of the client, achieving the best results in solving all sorts of problems in cosmetology and aesthetic medicine. A qualified doctor who has diagnostic equipment for analyzing and evaluating the condition of the facial and body skin, besides carrying out a full assessment with obtaining all the qualitative and quantitative characteristics, can also perform modeling and visualization of the expected result. The use of one or another type of therapy with comparison of the results after diagnostic equipment analysis and visualization delivers accurate and objective data to identify the causes of problems, the choice of the optimal course of treatment and the adoption of the only correct solution to solve the problem.

Manicure and pedicure services among women are popular at all times, so it’s for sure a profitable spot. If you want to open a manicure/pedicure salon, take care to purchase the necessary equipment. It’s obvious that all the devices that you plan to use in the course of doing business must be of high quality, original and highly efficient which means you probably need loans for medical devices.

The cosmetology market these days represents a broad area of the economy, which includes the production, marketing of products and the provision of services. Each section of the market is very popular, very difficult and very profitable. If you are not a magnate and you cannot buy a factory and laboratories for yourself, hire great minds to develop cosmetics, and if creating networks to sell cosmetics is very difficult and requires big investments and it leads to the fact that managing branch of cosmetology is expensive, but possible and very profitable!

Having discussed main branches of medical spas, it’s high time to talk about benefits of a lease payment provided by Zena Financial Services. The thing is many lenders want 30% down or more and a time in business of 5 years or more. This is due to increased liability risks of medical spa owners. Zena Financial can do equipment financing for med spas at any stage (established or a startup). Start up loans for med spas are available. While each scenario and loan application is different, it is important to work with your loan officer to determine your best loan options. Plus, if you finance now, soon you will get profits. It’s a wiser move for your company and it’s simpler and beneficial to use someone else’s money than yours.

Lenders who fully understand the healthcare and medical aesthetics industry can speak the language that can help get borrowers through the application process and, if eligible and approved, get the project funded. Our team knows the industry thoroughly, so we are able to help our customers choose the right loan program that fits their needs and ultimately help to achieve their long-term plan. We understand all aspects of a business plan from the complete start-up cost to marketing. We also understand what it takes to be a fee for service business and how to approach cash flow needs from that perspective. Although we have a standard process that all loans will follow, each customers’ business scenario and needs are different. Therefore, the timing will vary from customer to customer. Every loan transaction and customer is different and evaluated on their own merits.

Generally, down payment requirements are up to 30% of the total project cost. Not all business loans require a guarantee, but all SBA loans do require a personal guarantee. Talk with your loan officer to learn more about guarantees required by the lender when it comes to loans for medical devices. Most loan applications can take between 45 to 60 days depending on the complexity of the project. Projects that include real estate can take up to 60 days, due to the time it takes to obtain appraisals and environmental assessments. A start-up loan without real estate generally takes less time. Equipment-only loans generally can take anywhere from 3-21 days depending on the documents needed and how fast the entrepreneur submits them. Typically, we need a copy of an application, three months banks statements, and an equipment quote from the aesthetic equipment vendor.  In some cases, we just need an application and equipment quote only.

There are certain opinions going about that financing is better than paying with cash. Equipment depreciates rapidly. Spending capital on something that is going to be worth less with every day that passes means you are stuck with useless equipment the end of that equipment’s lifetime. Soft costs can add up fast. When purchasing a comprehensive equipment solution, soft costs like labor, installation, and maintenance are often not included in the sale price, which means you’re outlaying more cash initially than you would if you had decided to pay monthly for the same equipment. Upgrading equipment often can be expensive when paying with cash. When you outgrow your equipment, the burden of finding a new solution falls on you and the owner and the process begins all over again.

When you finance equipment solutions, you can easily upgrade your equipment, often for the same monthly payment, and not have to worry about purchasing new equipment. It’s easier to budget when you have a monthly payment. Paying cash outright for an expensive solution can mean that your operating expenses for that month, or year, are totally used up. This leaves no room for emergency spending and often times can eat away at reserve funds. When you make monthly payments, you can allocate the money you had previously budgeted into the operating expenses you need to address the most.

We have a healthcare equipment lending group that we will engage to help you evaluate potential options to finance this type of loans for medical devices request. Our equipment lending group only lends on equipment and offers highly specialized expertise in this area. Nowadays the profession of a dermatologist or other physician in a field of cosmetology is a prosperous one, since there are lots of medical spas operating throughout the world. The allure to join this club is growing, at the same time Medical spa owners face increasing liability risks. It means that dermatologists, among other core physicians, are opening medical spas or adding medical spa services to existing practices as the demand for non-invasive cosmetic procedures grows.

Unfortunately for these physicians, non-core physicians, mid-level practitioners, and entrepreneurs are beginning to outpace core doctors in the medical spa space. Though medical spas offer non-invasive and, what some might suggest are fairly simple medical treatments like neuromodulator injections and laser hair removal, these procedures carry the same risk of litigation as any other medical procedure. Due to the aesthetic nature of the treatments and spa-like setting where most treatments are performed, there is a public perception that medical spa procedures are risk-free. This misconception has contributed, in part, to the recent rise in litigation that has put medical spas in the legal spotlight. Negligence lawsuits against a dermatologist are lost when a plaintiff’s attorney can show the dermatologist breached his/her reasonable duty and that there is a nexus between that breach and economic damages. If a dermatologist employee breached that same reasonable duty and it can be shown that there is a nexus between that breach and economic damages, more often than not the dermatologist will also be found liable.

Similarly, based on the state jurisdiction, if it can be shown the dermatologist did not provide appropriate supervision, that dermatologist can lose his/her medical license. Dermatologists now must be particularly careful when signing on as a medical director of a medical spa, offering medical spa treatments or opening a medical spa of their own. It’s in many people’s nature to be unfamiliar or intimidated by loans and leases. But actually it’s a smart way to make money work for you. Each lending scenario is different. However, the lending process is relatively painless when the borrower/entrepreneur is responsive.

Lending is offering of financial expertise to clients based on their business’ unique needs. Our team works with our customers to offer them a range of financial services, including credit and cash management. Our company is ready to guide you to getting loans for medical devices. We are providing our clients with Equipment Financing and Business Loans; Equipment financing loans and leases on all types of equipment; Working capital loans; SBA loans; Startup business loans. Our terms go from 12-84 months. We offer competitive rates and leases and loans from $500 to $5 million. We look at A through D credit in almost all industries!

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