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Rehabilitation and Physical Therapy Equipment Financing: The Complete Guide for Healthcare Providers
The demand for physical therapy and rehabilitation services in the United States is experiencing significant growth. An aging population, an increase in sports-related injuries, and a greater emphasis on non-invasive treatment options are driving millions of patients to seek care. According to market analysis reported by Reuters, the U.S. physical therapy clinics market is projected to expand considerably in the coming years, creating a substantial opportunity for practice owners. To capitalize on this trend and provide superior patient outcomes, healthcare providers must invest in modern, state-of-the-art equipment. However, the high capital cost of advanced therapeutic and diagnostic tools can be a significant barrier to growth, straining cash flow and limiting a clinic's ability to expand. This is where strategic financing becomes an indispensable tool. Rather than depleting vital cash reserves on large, upfront purchases, physical therapy equipment financing allows practices to acquire the necessary technology with predictable monthly payments. This approach not only preserves working capital for daily operations, marketing, and payroll but also enables clinics to stay competitive by offering the latest treatment modalities. Effective financing is not merely a loan; it's a growth strategy that empowers you to enhance patient care, attract top-tier therapists, and improve your clinic's overall profitability. This comprehensive guide will walk you through every aspect of rehabilitation and physical therapy equipment financing. We will explore the types of equipment you can finance, compare different funding options, detail the application process, and provide expert advice on choosing the right lending partner. Whether you are opening a new practice, expanding your current facility, or upgrading outdated technology, understanding your financing options is the first step toward building a more successful and impactful healthcare practice.Ready to Upgrade Your Clinic's Equipment?
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Apply Now →In This Article
- Why Investing in Modern PT Equipment is Crucial
- What Types of Equipment Can Be Financed?
- Financing vs. Paying Cash: A Strategic Comparison
- Key Financing Options Explained
- The Equipment Financing Process
- How to Choose the Right Financing Partner
- Understanding Tax Implications
- Common Mistakes to Avoid
- Next Steps with Crestmont Capital
- Frequently Asked Questions (FAQ)
Why Investing in Modern PT Equipment is Crucial
In today's competitive healthcare landscape, the quality of your equipment directly impacts the quality of your care, your clinic's reputation, and your financial success. Sticking with outdated or limited technology is no longer a viable option for ambitious practice owners. Investing in modern rehabilitation and physical therapy equipment is a strategic imperative that yields significant returns across multiple facets of your business.Enhanced Patient Outcomes and Satisfaction
The primary goal of any physical therapy practice is to help patients recover faster and more effectively. Advanced equipment enables therapists to provide more precise, targeted, and innovative treatments. For example, technologies like anti-gravity treadmills allow for earlier weight-bearing exercises post-surgery, while Class IV laser therapy can accelerate tissue healing and reduce pain. When patients see and feel better results, their satisfaction soars, leading to higher retention rates and a powerful stream of word-of-mouth referrals.Gaining a Competitive Advantage
The physical therapy market is crowded. To stand out, your clinic must offer services and technologies that others do not. Investing in specialized equipment like aquatic therapy tanks, virtual reality rehabilitation systems, or advanced spinal decompression tables can position your practice as a leader in your community. This differentiation not only attracts more patients but also justifies premium pricing for specialized services, directly boosting your revenue.Attracting and Retaining Top Talent
Skilled physical therapists are the lifeblood of your practice. Like any professional, they want to work with the best tools available. A clinic equipped with modern, effective technology is far more attractive to top-tier talent than one with aging machines. Providing your team with advanced equipment demonstrates your commitment to excellence and professional development, which improves morale, reduces staff turnover, and ultimately enhances the quality of care delivered to every patient.Expanding Service Offerings and Revenue Streams
New equipment opens doors to new treatment protocols and patient populations. Adding a suite of pediatric-specific equipment can help you launch a successful pediatric therapy program. Investing in urodynamic systems can allow you to serve patients with pelvic floor dysfunction. Each new piece of specialized equipment represents a potential new revenue stream, allowing you to diversify your services and reduce reliance on a single type of treatment or insurance reimbursement model. This is a key strategy discussed in our rehabilitation center financing guide.Improved Clinic Efficiency and Throughput
Modern equipment is often designed for greater efficiency. Automated systems, intuitive software interfaces, and multi-functional machines can reduce setup times, streamline documentation, and allow therapists to treat more patients effectively throughout the day. For example, an EMR/PM software system integrated with therapeutic devices can save hours of administrative work each week. This increased operational efficiency translates directly to a healthier bottom line.What Types of Physical Therapy Equipment Can Be Financed?
A common misconception is that financing is only for large, six-figure machines. In reality, a comprehensive equipment financing package can cover virtually every tangible asset your practice needs to operate and grow. Lenders who specialize in the healthcare sector understand the wide range of tools required. This includes not only the primary treatment equipment but also the supporting technology and furniture that create a functional and professional clinic environment. At Crestmont Capital, we can structure financing for a single piece of equipment or a complete practice build-out. Here is a breakdown of the categories of equipment commonly financed by physical therapy and rehabilitation centers.Diagnostic and Evaluation Equipment
Accurate diagnosis is the foundation of any effective treatment plan. Financing allows you to acquire sophisticated evaluation tools without a massive cash outlay.- Electromyography (EMG) and Nerve Conduction Velocity (NCV) Systems: Essential for assessing nerve and muscle function.
- Isokinetic Testing Machines: Devices like Biodex or Cybex systems provide objective data on muscle strength and joint movement.
- Force Plates and Gait Analysis Systems: High-tech platforms that measure balance, pressure distribution, and walking patterns.
- Diagnostic Ultrasound Imaging: Allows for real-time visualization of muscles, tendons, and ligaments to guide treatment.
- Range of Motion (ROM) and Postural Analysis Tools: Digital goniometers and software-based posture assessment systems.
Therapeutic and Modality Equipment
This category includes the core tools your therapists use to treat patients daily. Staying current with these technologies is vital for delivering effective care.- Class IV Laser Therapy Units: For deep tissue therapy to reduce pain and inflammation.
- Electrical Stimulation (E-Stim) and TENS Units: Including advanced interferential (IFC) and neuromuscular (NMES) devices.
- Therapeutic Ultrasound Machines: Used for deep heating of soft tissues to increase blood circulation.
- Spinal Decompression Tables: Non-surgical treatment for herniated or bulging discs.
- Light Therapy (LED/Infrared) Systems: To promote cellular repair and circulation.
- Extracorporeal Shock Wave Therapy (ESWT) Machines: An effective modality for treating chronic tendinopathies.
Rehabilitation and Exercise Equipment
This is often the largest category of investment, encompassing the machines that help patients regain strength, mobility, and function.- Anti-Gravity Treadmills (e.g., AlterG): Allows patients to exercise with reduced body weight, ideal for post-operative and neurological rehab.
- Hydrotherapy and Aquatic Therapy Pools/Tanks: Provides a low-impact environment for strength and mobility training.
- Cardiovascular Equipment: Medical-grade treadmills, recumbent bikes, ellipticals, and upper body ergometers.
- Strength Training Equipment: Multi-station gyms, free weights, resistance bands, and specialized rehabilitation machines.
- Balance and Proprioception Equipment: Balance boards, stability trainers, and virtual reality (VR) rehabilitation systems.
- Treatment Tables and Plinths: High-low tables, traction tables, and mat tables are all financeable.
Clinic Operations, Software, and Furnishings
A successful practice needs more than just clinical equipment. Financing can bundle "soft costs" and operational necessities into one convenient payment.- Electronic Medical Record (EMR) / Practice Management (PM) Software: The digital backbone of your clinic for scheduling, billing, and documentation.
- Computers, Laptops, and Tablets: Hardware needed to run your EMR and for administrative tasks.
- Waiting Room Furniture: Chairs, desks, and decor to create a professional and welcoming environment.
- Office Equipment: Phones, printers, and other essential administrative tools.
- Security and AV Systems: For patient safety and clinic management.
Key Insight: 100% financing is often available, allowing you to bundle soft costs like shipping, installation, and training into your total funding package. This means you can get your new equipment up and running with potentially zero cash out of pocket.
Financing vs. Paying Cash: A Strategic Comparison
When it's time to acquire new equipment, practice owners face a fundamental decision: pay with available cash or use a financing option. While paying cash might seem like the simplest route, it's often not the most strategic move for a growing business. Preserving capital is paramount for navigating unexpected challenges and seizing opportunities. A careful comparison reveals why financing is frequently the superior choice for savvy healthcare providers.The Case for Paying with Cash
- No Debt or Interest Payments: The most obvious benefit is avoiding debt. You own the equipment outright from day one and do not have to budget for monthly payments or interest costs.
- Simplicity: A cash transaction is straightforward. There is no application, credit check, or paperwork to complete. You negotiate a price, pay the vendor, and the equipment is yours.
The Strategic Advantages of Financing
- Cash Flow Preservation: This is the single most important advantage of financing. Cash is the lifeblood of your business. By financing equipment, you keep your cash reserves intact for other critical needs like payroll, marketing, hiring new staff, unexpected repairs, or pursuing a sudden growth opportunity. A healthy cash position provides a crucial safety net.
- 100% Financing and Bundled Costs: As mentioned, many financing agreements can cover the total project cost, including the equipment price plus "soft costs" like taxes, delivery, installation, and initial training. Paying cash for these items can add another 10-15% to the total outlay, further depleting your reserves.
- Predictable, Fixed Monthly Payments: Financing converts a large, unpredictable capital expenditure into a fixed, manageable monthly operating expense. This makes budgeting and financial forecasting much simpler and more accurate. You know exactly what your equipment will cost each month, protecting you from interest rate fluctuations that can affect variable-rate loans or lines of credit.
- Accelerated ROI: Financing allows you to acquire new, revenue-generating equipment immediately. The equipment starts paying for itself from the first day of use. The new revenue and improved efficiency it generates can often exceed the monthly financing payment, resulting in a net positive cash flow and a faster return on your investment.
- Building Business Credit: Making timely payments on an equipment financing agreement helps build a strong credit history for your practice. This can make it easier and more affordable to secure other types of funding in the future, such as a practice acquisition loan or a line of credit.
- Technology Refresh Cycles: For equipment that rapidly becomes obsolete (like high-tech diagnostic or software systems), leasing offers a significant advantage. An operating lease allows you to use the equipment for a set term and then easily upgrade to the latest model without being stuck with outdated technology.
Key Physical Therapy Equipment Financing Options Explained
When you decide to finance, you'll find several different products available. Each is structured differently and offers unique benefits regarding ownership, payment structure, and tax treatment. Understanding these options is key to selecting the one that best aligns with your practice's financial goals. The most common types of medical equipment financing fall into three main categories: Equipment Finance Agreements (EFAs), Capital Leases, and Operating Leases.Equipment Finance Agreement (EFA)
An EFA is a straightforward loan for a specific piece of equipment. You are the owner of the equipment from the beginning, and the lender places a lien on it as collateral.- How it works: You receive funds to purchase the equipment, and you make fixed principal and interest payments over a set term (typically 2-7 years). At the end of the term, the lien is released, and you own the equipment free and clear.
- Best for: Practices that want full ownership of equipment with a long useful life and want to take advantage of tax depreciation benefits like Section 179.
Capital Lease (or $1 Buyout Lease)
A capital lease is structured as a lease for accounting and legal purposes, but it functions much like a loan. It is a financing agreement where the intent is for the practice to own the equipment at the end of the lease term.- How it works: You make regular lease payments over the term. At the end of the term, you can purchase the equipment for a nominal amount, typically just $1. For tax purposes, the IRS generally treats a capital lease as a purchase, allowing you to depreciate the asset.
- Best for: Practices that want the benefits of ownership and tax depreciation but prefer the structure of a lease. It's functionally very similar to an EFA.
Operating Lease (or Fair Market Value Lease)
An operating lease is a true rental agreement. You are paying to use the equipment for a portion of its useful life, not to own it.- How it works: You make lower monthly payments compared to a capital lease for the same equipment because you are only financing the depreciation of the asset over the lease term. At the end of the term, you have several options: return the equipment, renew the lease, or purchase the equipment at its Fair Market Value (FMV).
- Best for: Technology that quickly becomes obsolete (like computers or advanced software), or for practices that want the lowest possible monthly payment and prefer to upgrade equipment every few years.
Comparison of Financing Options
| Feature | Equipment Finance Agreement (EFA) | Capital Lease ($1 Buyout) | Operating Lease (FMV) |
|---|---|---|---|
| Ownership | You own the equipment from day one. | You own the equipment at the end for $1. | Lender owns the equipment. You have an option to buy at FMV. |
| Monthly Payment | Higher (covers full cost + interest). | Higher (covers full cost + interest). | Lowest (covers depreciation, not full cost). |
| Tax Treatment | You can depreciate the asset and deduct interest. Eligible for Section 179. | Treated as a purchase. Eligible for Section 179. | Lease payments are typically treated as a deductible operating expense. |
| End of Term | You own the equipment free and clear. | You pay $1 and own the equipment. | Return, renew, or purchase at FMV. |
Small Business Administration (SBA) Loans
For larger projects, such as a full practice expansion that includes significant equipment purchases, an SBA loan can be an excellent option.- SBA 7(a) Loans: These are the most common type of SBA loan. They are versatile and can be used for working capital, equipment purchases, and real estate. They offer long repayment terms and competitive interest rates.
- SBA 504 Loans: These loans are specifically for major fixed assets, such as real estate or heavy machinery. They consist of two parts: one from a conventional lender and one from a Certified Development Company (CDC).
Confused About Your Options?
Our financing specialists can help you choose the right structure for your practice's specific needs. Let's talk.
Get a Free Consultation →The Equipment Financing Process: A Step-by-Step Walkthrough
Securing physical therapy equipment financing is often much faster and simpler than obtaining a traditional bank loan. At Crestmont Capital, we've streamlined our process to get you the funding you need with minimal hassle, allowing you to focus on your patients. Here’s a typical walkthrough of the steps involved.1
Get a Quote
Identify the equipment you need and get a formal quote from the vendor, including all costs.
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Apply Online
Complete our simple one-page online application. It takes just a few minutes.
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Review Approval
Receive your credit approval and review the proposed terms, rates, and payment options.
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Sign & Fund
Sign the financing documents electronically. We then pay the equipment vendor directly.
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Get Your Equipment
Your vendor ships your new equipment. You can start using it to treat patients and generate revenue.
How to Choose the Right Financing Partner for Your Practice
Not all lenders are created equal. Choosing the right financing partner is just as important as choosing the right equipment. The wrong partner can lead to unfavorable terms, hidden fees, and a frustrating process. The right partner becomes a valuable asset to your practice's growth. Here are the key factors to consider when evaluating a lender.Industry Specialization
Does the lender understand the healthcare industry, and specifically, the physical therapy market? A specialized lender like Crestmont Capital understands the value of medical equipment, the revenue cycles of a PT practice, and the unique challenges you face. A generalist lender might not appreciate the value of an AlterG treadmill and may be more hesitant to fund it. Specialists can offer more flexible terms and a smoother approval process because they understand your business model.Speed and Efficiency
When you decide you need a piece of equipment, you often need it quickly to meet patient demand or launch a new service. How fast can the lender get from application to funding? Look for a lender with a streamlined digital application and a reputation for rapid approvals, often within hours, and funding in as little as 24-48 hours. Traditional banks can take weeks or even months.Transparency and Honesty
The financing world can be complex. Your partner should be transparent about all terms, conditions, and fees. Ask potential lenders about:- Interest Rates vs. Factor Rates: Ensure you understand how your cost of capital is calculated.
- Hidden Fees: Are there documentation fees, early prepayment penalties, or other charges not included in the monthly payment?
- End-of-Lease Terms: For leases, be crystal clear about your options and the costs associated with them.
Flexibility and Customization
Your practice is unique, and your financing should be too. A good lender will work with you to structure a deal that fits your specific cash flow and business goals. This could include:- Flexible Repayment Terms: Offering terms from 24 to 84 months to find a payment that fits your budget.
- Deferred Payments: Options to defer your first few payments, giving you time to get the equipment installed and generating revenue before your first bill is due.
- Seasonal or Step-Up Payments: Payment structures that align with your practice's cash flow cycles.
Exceptional Customer Service
When you have a question, you should be able to speak with a knowledgeable professional who understands your account. Avoid lenders who route you through impersonal call centers. Look for a partner that provides a dedicated account representative who will guide you through the entire process and be a point of contact for the life of your agreement.Pro Tip: Check online reviews and ask for references. A lender's reputation among other healthcare providers is a strong indicator of the quality of service you can expect to receive.
Understanding the Tax Implications of Equipment Financing
One of the most significant financial benefits of acquiring new equipment is the potential for substantial tax deductions. The U.S. tax code offers powerful incentives for businesses that invest in themselves. While you should always consult with a qualified tax professional for advice specific to your situation, understanding the basics of these deductions is crucial for any practice owner.Section 179 Deduction
Section 179 of the IRS tax code is a game-changer for small and medium-sized businesses. It allows you to treat the full purchase price of qualifying new or used equipment as an expense in the year you put it into service, rather than depreciating it over several years. For example, if you finance a $100,000 suite of equipment, you may be able to deduct the entire $100,000 from your taxable income for that year. This can dramatically lower your tax liability, and the tax savings can effectively reduce the net cost of the equipment. Both Equipment Finance Agreements and Capital Leases are generally eligible for the Section 179 deduction because they are treated as a purchase for tax purposes. The deduction has limits, which are updated periodically. For the current tax year's limits, it's best to consult the official IRS guidelines or your accountant.Bonus Depreciation
Bonus depreciation is another powerful tax incentive that can be used in conjunction with or in place of the Section 179 deduction. It allows you to deduct a certain percentage of the cost of new and used qualifying assets in the first year they are placed in service. This percentage can change based on current tax laws. In some years, it has been as high as 100%. The primary difference is that Section 179 has a cap on how much you can write off, while bonus depreciation is not limited by a spending cap. However, a business must have a net income to take the Section 179 deduction, whereas bonus depreciation can be used even if the business has a net loss.Deducting Interest and Lease Payments
- For Loans (EFAs) and Capital Leases: In addition to depreciation under Section 179, you can also deduct the interest portion of your monthly payments as a business expense.
- For Operating Leases: The entire monthly lease payment is typically considered an operating expense and can be fully deducted from your taxable income.
Common Mistakes to Avoid When Financing PT Equipment
Navigating the financing process can be tricky, and a few common missteps can lead to unfavorable terms or long-term financial strain. By being aware of these potential pitfalls, you can secure the best possible deal for your practice.1. Focusing Solely on the Monthly Payment
While a low monthly payment is attractive, it should not be your only consideration. A lender can achieve a low payment by extending the repayment term significantly. A longer term means you will pay much more in total interest over the life of the agreement. Always compare the total cost of financing-the monthly payment multiplied by the number of months-across different offers.2. Not Reading the Fine Print
The financing agreement is a legally binding contract. It is crucial to read and understand every clause before you sign. Pay close attention to sections detailing prepayment penalties, late fees, insurance requirements, and end-of-lease obligations. If you don't understand something, ask your financing specialist to explain it in plain language.3. Ignoring Soft Costs
The price on the vendor's quote is rarely the final price. Remember to account for soft costs like sales tax, shipping, installation, and staff training. A good financing partner will allow you to bundle these costs into the total financed amount, but you need to provide them with these figures upfront. Forgetting them can lead to unexpected out-of-pocket expenses.4. Working with a Generalist Lender
As discussed earlier, a lender who doesn't understand the value of specialized medical equipment may be more conservative with their offer or may not approve the financing at all. They may also have a rigid, one-size-fits-all approach. Partnering with a healthcare financing specialist ensures you're working with someone who understands your assets and your business model.5. Waiting Until the Last Minute
Don't wait until you absolutely need the equipment to start exploring your financing options. Rushing the process can lead you to accept the first offer you receive without doing your due diligence. Start the conversation with a lender early. Getting pre-approved for a certain amount can give you more negotiating power with equipment vendors and allow you to act quickly when you find the right deal. The U.S. Census Bureau's data on business formation shows that well-planned businesses have a higher success rate, and securing financing is a key part of that planning.6. Overlooking Your Existing Banking Relationships
While specialized lenders are often the best choice, it's still worthwhile to check with your current business bank. They may be able to offer competitive terms, especially if you have a strong, long-standing relationship. However, be prepared for a slower, more document-intensive process compared to an independent equipment financing company.Take the First Step Today
Our simple application takes only minutes to complete. Find out what your practice qualifies for with no obligation.
Apply Now →Next Steps: Secure Your Financing with Crestmont Capital
You understand the benefits, you know the options, and you're ready to equip your practice for success. Crestmont Capital makes the path from application to acquisition as simple and efficient as possible. Here’s how to get started on securing your physical therapy equipment financing.1
Gather Your Information
Finalize your equipment choice and obtain a formal quote from your vendor. Make sure it includes the full cost, including any taxes, shipping, and installation fees. Having this ready will expedite the entire process.
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Complete Our Quick Application
Visit our secure online portal and complete the one-page application. It’s designed to be fast and intuitive. Most clients can complete it in under five minutes. Click here to apply now.
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Consult with a Specialist
Once we receive your application, a dedicated financing specialist will contact you to discuss your needs, review your approval, and walk you through the best financing structures and terms available for your practice.
Frequently Asked Questions (FAQ)
What is the minimum credit score required for physical therapy equipment financing? +
While a higher credit score generally leads to better rates and terms, we work with a wide range of credit profiles. Most lenders look for a personal credit score of 620 or higher for the business owner. However, other factors like time in business, cash flow, and the type of equipment being financed are also heavily considered. We encourage you to apply even if your score is slightly below this, as we have programs for various credit situations.
Can I finance used or refurbished equipment? +
Absolutely. Financing used or refurbished equipment is a great way to save money, and we frequently provide funding for it. The process is the same as for new equipment. The main considerations for the lender will be the age, condition, and expected useful life of the equipment. We can finance purchases from certified dealers as well as private-party sales.
How long does the financing process take from application to funding? +
Our process is designed for speed. For transactions under $250,000, you can often receive a credit approval within a few hours of submitting your application. Once you select your terms and sign the electronic documents, we can typically fund the equipment vendor within 24 to 48 hours. Larger or more complex transactions may take slightly longer.
Do I need to provide a down payment? +
In many cases, no down payment is required. We specialize in 100% financing, which allows you to acquire the equipment with zero cash out of pocket. Some lenders may ask for one or two advance payments at the time of signing, which are applied to the beginning or end of your term, but this is different from a traditional down payment.
Can new or startup practices get equipment financing? +
Yes. While financing for startups (businesses open for less than two years) can be more challenging than for established practices, we have specific programs designed for new businesses. Lenders will typically place a stronger emphasis on the owner's personal credit score, industry experience, and business plan. A down payment may be more likely required for a startup.
What are typical interest rates for physical therapy equipment financing? +
Interest rates vary widely based on several factors, including your credit score, time in business, the amount being financed, and the length of the term. Rates can range from the single digits for highly qualified, established practices to higher rates for startups or those with challenged credit. The best way to know your specific rate is to submit a no-obligation application.
What kind of documentation do I need to apply? +
For most transactions under $250,000, our process is "application-only." This means we typically only need the completed one-page application and a quote for the equipment. For larger amounts or more complex situations (like startups), we may request additional documents such as bank statements, financial statements, or a business plan.
Can I finance soft costs like software, installation, and training? +
Yes. We can bundle all associated soft costs into your total financing package. This allows you to get your new equipment fully installed, and your staff trained, all within one simple monthly payment and with no upfront cash required.
Will applying for financing affect my credit score? +
When you apply, we perform a "soft" credit pull to pre-qualify you. A soft pull does not impact your credit score. A "hard" credit inquiry, which may have a small, temporary impact on your score, is only performed once you decide to move forward with a specific financing offer.
Can I pay off my equipment loan early? +
This depends on the specific terms of your financing agreement. Some agreements may have prepayment penalties, while others do not. If paying off the agreement early is important to you, be sure to discuss this with your financing specialist upfront so they can find a product that aligns with your goals.
What happens if the equipment I financed breaks down? +
The financing agreement is separate from the equipment's warranty. You are still responsible for making your monthly payments even if the equipment needs repair. Maintenance and repairs are your responsibility, just as if you had paid cash. We strongly recommend ensuring your equipment comes with a comprehensive manufacturer's warranty.
Can I finance equipment from any vendor I choose? +
Yes. We give you the freedom to choose the equipment and the vendor that best suits your needs. Whether it's a major national brand, a local supplier, or a private seller, we can structure the financing. We simply pay your chosen vendor directly once the financing documents are signed.
What is the difference between a loan and a lease? +
The primary difference is ownership. With a loan (like an EFA) or a capital lease, the intent is for you to own the equipment at the end of the term. With a true operating lease, you are essentially renting the equipment for a set period and do not build equity. Operating leases often have lower payments but do not result in ownership unless you choose to buy the equipment at its Fair Market Value.
Do I need to put the equipment on my business insurance policy? +
Yes. All financing agreements require you to maintain insurance coverage for the equipment against loss, theft, or damage for the duration of the term. You will need to provide proof of insurance, listing the finance company as the "loss payee."
Can I add more equipment later on? +
Of course. As your practice grows, your equipment needs will evolve. We aim to build long-term relationships with our clients. You can apply for financing for additional equipment at any time. Having an existing financing agreement in good standing can often make subsequent applications even faster and easier.
Disclaimer: The information provided in this article is for general educational purposes only and is not financial, legal, or tax advice. Funding terms, qualifications, and product availability may vary and are subject to change without notice. Crestmont Capital does not guarantee approval, rates, or specific outcomes. For personalized information about your business funding options, contact our team directly.
