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Equipment Financing

Are you planning to purchase new equipment in the next few months or year?

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Summary

We offer traditional term loans for new equipment purchases, plus we offer an Equipment Line of Credit. The Equipment Line of Credit allows the borrower to purchase multiple pieces of equipment over a specific period-of-time (the “draw period”). At the end of the draw period, the loan balance is amortized over an agreed number of years.

Loan Features

The Equipment LOC can be set up for 12 months to allow for speed with anticipated equipment purchases. Once the funds have been fully allocated the loan balance is amortized over the pre-determined period based on the useful life of the equipment. Interest rates can be fixed during the draw period and through the full amortization.
  • Up to 100% of equipment cost plus any required installation or soft costs.
  • Flexible loan terms up to 10 years based on the useful life of the equipment.
  • No Pre-payment penalty option available.
  • $100,000 to No Limit

Borrower

  • Physician (individual) or physician-controlled entity such as an LLC, Sub S Corp, or trust.
  • Borrower must be the recognized owner of the shares at the operating entity in which ownership is being purchased.
  • Minimum Fico 700 (Exceptions apply based on specific situations)

Other Details

  • Funds are used for Equipment purchase price (including taxes) and delivery and setup.
  • Monthly payments are auto-drafted from the borrowers designated checking account
  • Principal balance of loan at the end of the draw period is amortized over a period of up to 120 months.
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