Medical equipment leasing

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Chris Palmer
We have used Elizabeth on 2 recent funding transactions. She is a star. Always checked in at end of day where things were at & updated me. Great customer service & would certainly recommend her. Thankyou Elizabeth.
Dec 12, 2024
Mike maur
It's been a pleasure dealing with Elizabeth, Def a Gem for her business. Amazing communicator and process dealing with all the paperwork was made easy and stress free. Keep it up !
Nov 28, 2024
Nasir Abbas Kazmi
I applied vehicle Finance through Swoop & lady Ikra help me from Beginning to end,she s very professional & helpful. Its just took 3 to 4 days & now i got new vehicle. I received Best customer services from Ikra & High recommend for this Swoop Finance.
Nov 26, 2024
Hazel Cuizon
Ayesha was very prompt and friendly to deal with and answered all my questions in a timely and professional manner. Very happy, highly recommend 🙂
Nov 24, 2024
Andrew Frazer
Cynthi was a fantastic help in organising what was needing and obtaining finance
Nov 8, 2024
Chris Skeates
Predrag and the Swoop team have been outstanding. Very attentive to our needs and staying on top of our funding request with their partners.
Oct 24, 2024
Leo Tsuo
Great experience. They quickly understood my needs and was fast to find a lender that met those needs. Highly recommend
Oct 22, 2024
Kash De Silva
I had a fantastic experience working with Elizabeth Tan for my business lending needs. She provided exceptional support and guidance, helping me navigate the process with ease. Her expertise and dedication were instrumental in taking my business to the next stage. I highly recommend her to anyone looking for lending assistance!
Oct 15, 2024
Shannon T
Cynthia has gone above and beyond, explained the process, consequences, and found me the most suitable solutions for my business in a very busy time! I found the help (even before I was guaranteed to use them) invaluable and the help made all the difference!
Oct 9, 2024
Jon Marc
Swoop came in at just the right time and there help was very much what took me over the hump to expand. They really know how to help and they follow up and make sure you’ve been taken care of!
Oct 8, 2024

Page written by Chris Godfrey. Last reviewed on December 4, 2024. Next review due April 6, 2025.

Healthcare is a huge industry in the UK, covering everything from paediatric and senior care, to dental, vision and audio, with a vast array of equipment utilised by professionals who work in the sector.  Because this equipment can be expensive, many medical providers choose to lease the machines and tools they need using a medical equipment lease. This type of financing reduces strain on cashflow, provides practitioners with the latest devices, and helps to continually improve the efficiency and quality of the healthcare we receive.

What is classed as medical equipment?

The main categories of medical equipment are electronic, diagnostic, surgical, durable medical equipment (DME), acute care, IT hardware and software, storage, and transport. However, no matter what it’s called, almost every type of medical device can be obtained with a specialised medical equipment lease.

Advantages of leasing medical equipment

Paying for medical equipment out of valuable working capital does not make business sense, which is why thousands of medical SMEs secure the devices they need with a flexible, cost-effective, medical equipment lease. This type of financing offers a host of unique advantages:

  • Take the strain off cashflow and protect valuable working capital.
  • Medical equipment leasing often offers lower monthly payments than finance loans.
  • Can be the most tax-efficient way to buy the equipment you need.
  • Gives you the option to return or buy the equipment at contract end.
  • Can sometimes be extended to match dips in cashflow.
  • Can give you the medical equipment you need very quickly.
  • 100% lease may be available – no deposit necessary

Medical equipment leasing products

Healthcare providers seeking to lease their new medical equipment can choose from two types of medical equipment leasing products:

Operating lease

This is a long-term rental agreement with an option to buy at contract end. The lessee (you) pays a fixed monthly sum for use of the equipment and for a set period of time (12, 24, 36 months etc). When the contract expires, you may either buy the equipment for its fair-market value, extend the rental for a further 12 months or more, or you can simply return the device(s) to the lessor (the equipment provider) with nothing more to pay. (Subject to any usage limitations). 

  • Fixed payments for easy accounting and cashflow management.
  • Absolute lowest payment.
  • Set contract period to aid financial planning – supports your budget.
  • Latest equipment.
  • Option to buy, continue renting, or return the equipment at contract end.
  • Simple agreement.

Capital lease

This is also long-term rental agreement, but you automatically buy the equipment for a pre-agreed ‘buyout fee’ (often as little as £1) at contract end. You pay a fixed monthly sum for use of the equipment and for a set period of time (12, 24, 36 months etc). When the contract expires and you have paid the buyout fee, the equipment is yours with nothing more to pay. 

  • Fixed payments for easy accounting and cashflow management.
  • £1 buyout at end of the contract in many cases.
  • Set contract period to aid financial planning – supports your budget.
  • Latest equipment.
  • Simple documentation.
  • Excellent option for those wishing to buy but with insufficient cash at time of purchase.

Is leasing medical equipment right for your business?

Your financial plan will determine which method of medical equipment funding is best for you. If you want to add the equipment to your balance sheet and own it outright as soon as the loan is paid off, a finance loan may be the way to go. However, if you want the lowest monthly payments, the biggest tax deduction, the option to buy or return the equipment when the contract ends, and you wish to avoid the potential liability of owning obsolete medical machinery, a flexible, medical equipment lease may be best for you.

Get started with Swoop

Medical equipment leasing is a specialist financial area with differing rules of application and requiring deep knowledge of this business sector from the lender. UK medical SMEs seeking funding may find themselves forever searching and making applications to lender after lender without success. The delays this can create could cause them to lose revenue and leave their business vulnerable to competition. Instead, working with a broker, who can access medical equipment leasing from a wide range of lenders is a better way to go. No more cold calls and endless demands for information, just tell us what you need and leave the rest to us. 

Give your practice the equipment it needs to grow. Register with Swoop to find the best rates, the best terms and the best medical equipment lease today.

Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.

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