Starting up a new healthcare practice can be quite challenging. Not only does the healthcare provider need to make investments in staff, marketing, or find an office space — but he also needed to consider what type of medical equipment they can acquire to get started. In this case, our client came to us before opening his new practice and recognized he needed approximately $40,000 in used equipment. His credit score was a 670, an reasonable score by most standards. However, he had a challenging time finding an institution that would lend him the $40,000 for used equipment. With a new practice about to open in a matter of weeks, the client came to us in dire need of financing.
After reviewing the client’s application and a quick conversation, we were able to get this client approved. With equipment being a vital need for his practice, his financing was secure and he was able to get the equipment just in time for his new practice to open. Remember, even if you have an excellent credit score, seeking alternative financing solutions beyond a bank can turn out great results!