Question 1

Can I finance medical equipment for a new practice?

Accepted Answer

Yes, new practices can access equipment finance, particularly with qualified practitioners. Lenders consider your qualifications, business plan, and the equipment's revenue-generating potential. Start-up packages combining multiple equipment items are common for new dental and veterinary practices.

Question 2

What happens when medical equipment becomes obsolete?

Accepted Answer

Operating leases are popular for fast-evolving technology as you return the equipment at term end and upgrade. For hire purchase, we can structure terms that align with expected useful life. Some lenders offer technology refresh facilities that allow upgrades mid-term.

Question 3

Are there VAT considerations for medical equipment finance?

Accepted Answer

Medical and dental equipment may qualify for VAT exemption or zero-rating depending on use. This affects whether you finance the gross or net amount. We recommend discussing with your accountant, and our lenders are experienced in structuring facilities appropriately.

Question 4

Can I include installation and training in the finance facility?

Accepted Answer

Yes, many lenders will include soft costs like installation, training, and initial consumables in the finance facility. This is particularly common for complex medical equipment where setup costs are significant. Typically up to 15-20% of the facility can cover soft costs.

Healthcare & Medical Finance

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