Medical equipment finance

Healthcare is a huge industry in the US, covering everything from pediatric and senior care, to dental, vision and audio, with a vast array of equipment utilized by professionals who work in the sector.

Chris Godfrey

Page written by Chris Godfrey. Last reviewed on July 19, 2024. Next review due October 1, 2025.

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Because this equipment can be expensive, most medical providers choose to buy or lease the machines and tools they need using medical equipment finance. This 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 classified 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 equipment can be financed for purchase or lease. 


The days of doctors working with little more than a stethoscope and a tongue depressor are long gone. Today’s medical professionals employ a myriad of complex devices to deliver top-rate healthcare – and it’s equipment that almost never comes cheap. The price-tag for some machines can easily exceed $1 million. Additionally, many devices and tools need constant updating to stay current to developments in the field of medicine, which only adds to the financial burden for US medical SMEs. Paying for such costly equipment out of cashflow simply does not make business sense. Instead, use medical equipment financing to ease the economic pain – spread costs over time, and gain payment flexibility to match the financial pattern of your practice.

Key benefits of medical equipment finance:

  • Spread the cost over months or years.
  • Build equity – choose an equipment loan to own the equipment at the end of the contract.
  • Lower your monthly payments with an equipment lease – and an option to buy at contract end.
  • Reduce your tax burden.
  • Secure the latest devices, with optional maintenance plans.
  • Choose a payment plan that mirrors the financial flow of your practice.
  • 100% financing may be available

IT Hardware

Digital technology is built into many of today’s medical devices and tools. Computers, servers, scanners, monitors, and sensors are needed to translate device actions into medical understanding and to catalogue, analyze, and store collected data. Just like other forms of medical equipment, finance is also available for the latest IT hardware. Keep your practice on the cutting edge of medical technology. 


Specialist medical software is essential for your hardware to function. However, these types of software can be costly to buy. Instead, use medical equipment finance to secure new operating and utility software and any type of application software, (including EHR and EMR electronic record-keeping, accounting, HR, and more).


Don’t buy depreciating assets such as office, therapy room, surgery, and lab furniture with cash. Finance all the chairs, tables, desks, beds, and storage systems you need with a low-cost loan or lease. Protect your cashflow and use your funds for purchases that build equity and real stakeholder value.

Security Systems

High footfall, the storage of sensitive materials and patient information, and the need to keep practitioners and patients safe, means good security is essential for your practice. Finance secure entry/exit systems, CCTV systems, alarms, and the monitors you need to keep your hospital, clinic, or practice safe 24 hours a day.

Why finance medical technology & diagnostic equipment

Medical equipment finance allows healthcare providers to secure the equipment they need without suffering financial pressure. Choose an economic loan or lease contract to spread the cost over months or years. What’s the difference between these options? See below:

  • Medical equipment financing

This is a loan that allows the borrower to pay for the equipment over months or years. Typically, the borrower will pay the loan back, (plus interest and any fees), in fixed monthly instalments. At the end of the loan, the borrower owns the equipment outright. 

Key benefits: Ease the strain on cashflow as you buy the equipment you need to grow your practice. Interest is usually a 100% tax-deductible expense. 

  • Medical equipment leasing

Similar to a loan, except the borrower (lessee) is not buying the equipment, they are renting it over an extended period. At the end of the contract, the equipment will either go back to the lessor (equipment provider), or the lessee may have the option to buy it for a pre-agreed sum. Depending on the terms of the contract, the lessor may be responsible for maintenance of the equipment.

Key benefits: Usually comes with lower monthly payments than medical equipment financing, but with the same support to cashflow. Can be very quick to arrange. Does not appear on the company balance sheet. In most cases, the entire payments (not just the interest) can be written off as a 100% tax-deductible expense.

How to apply for medical equipment finance

Medical equipment finance is a specialist area with differing rules of application and requiring deep knowledge of the sector from the lender. US 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 practice vulnerable to competition. Instead, working with a broker, who can access medical equipment financing 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. 

Get started with Swoop

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 finance 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 Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.

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At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple – to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.

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