No matter your financial situation, financing your dental equipment is always possible. Dental equipment can get extremely expensive. Certain x-ray machines and specialized dental chairs can cost up to $30,000. Numbers like these are intimidating, but no need to stress. There’s always a way to finance your dental equipment. You may have more options than you thought.
Whether you’re a rapidly growing dental firm or just trying to improve your service, everyone needs new equipment. Updating your technology will keep you in line with the competition.
We’ve compiled some information that’ll help when financing your new dental equipment. Here is everything you need to know about how to qualify for a dental equipment financial plan and the rates you’ll be paying.
How to Qualify
Show That You Mean Business
Big banks can be daunting. If you play to your strengths, there’s no doubt you’ll walk out with a financial plan for your dental equipment. Be confident.
Pledge Additional Collateral
One of the ways to make your application stand out is to pledge additional collateral. Additional collateral may be a piece of real estate or perfectly functioning equipment that you’ve already paid off. Pledging this will establish you as a credible and reliable customer.
Once you qualify, you’ll be given a monthly rate you pay in order to eventually own the equipment. Dental equipment financing rates ultimately depend on your credit score, how expensive the equipment is, and how long you’ve been in business. If your credit is low and you’ve been in business quite a while, you’ll be paying pretty low monthly rates. If you’re just starting up and you have average or bad credit, you may face higher monthly rates. Reliability is established with time and reputation. Good reliability means lower rates.
If you need any additional help qualifying, you can always enroll in a finance program. Trust Capital has developed a line of programs for business owners with any type of credit. With their help and guidance, you’ll be able to enroll in a financing program without any difficulties.
Financing a brand-new dental equipment isn’t as hard as it seems. What matters most here is your attitude, preparedness, and your willingness to invest time and energy to enrich your equipment.
Learn from your mistakes, explore your options, prove that you mean business to the representatives, and there’s no doubt you’ll finance your dental equipment.