Medical and Aesthetic Laser Equipment Financing
We understand equipment is always changing and improving for your demanding client base. This equipment can be expensive, and leasing and financing provides an affordable way to keep your business current with the best technology.
Funding Well Capital has vast experience in leasing and financing both medical and aesthetic laser products. Our objective is to find the best program and terms with the lowest interest rates to meet your specific needs. We’re well versed in the current and former market conditions, and promise to help your business to the best of our ability.
Aesthetic lasers are used for non-medical reasons, such as removing tattoos, fatty deposits or unwanted hair. It can fix age spots, wrinkles under the eyes, tightening and replenishing skin and collagen. Overall, aesthetic lasers have uses in a wide variety of different beautification procedures.
Difficulty in approval process
Lasers are typically one of the more challenging types of equipment to obtain. Here’s why:
History — During the financial crisis of 2008, some aestheticians struggled due to their general clientele’s lack of discretionary income. Because of the high costs of laser equipment and the failure to generate enough cash flow to pay back loans, banks were skittish to help to start these professionals get off the ground. Compared to a medical doctor (whose services are a necessity rather than a luxury), aestheticians are often viewed as a less solid candidate to receive funding for equipment. Also, cosmetic surgeons historically struggle to stay in business as the rate doctors do.
Obsolescence — Beyond overcoming the rigid qualifications to prove your practice worthy, another frustrating aspect of purchasing lasers is the rate at which the technology becomes inferior. Rapid improvements in technology can leave your equipment obsolete, which (in comparison to your competitions’) affects patient comfort and surgical success. Falling behind can be devastating to your business. Obsolescence lessens the resale value of certain resale equipment, which makes leasing unattractive for the banks.
Common Leasing Types
$1 buyout — You’re the equipment owner at the end of the lease
10% buyout — Similar to the $1 buyout lease, but with a different payout at the end to own the equipment.
Fair Market Value (FMV) — A flexible lease where your business uses the equipment for a set number of months and pays the fair market value at the end of the term to claim ownership, or return it to the owner.
Aesthetic laser procedures can be expensive, and so is the equipment. But not a lot of businesses in the country know how to navigate the difficult process of financing. Funding Well Capital has helped many aestheticians and medical doctors garner the equipment necessary to get to work.