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Apply Now ->Industry Insight: According to the American Society of Plastic Surgeons (ASPS), there were 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in a recent year, highlighting the massive and sustained demand for aesthetic services. (Source: ASPS)
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Get a Free Quote ->By the Numbers
Plastic Surgery Industry - Key Statistics
$16.7 Billion
Total amount spent on cosmetic procedures in the U.S. in a single year.
92%
Percentage of all cosmetic procedures performed on women.
Top 5 Surgical
Breast Augmentation, Liposuction, Eyelid Surgery, Rhinoplasty, and Facelift.
Top 5 Non-Surgical
Botox, Soft Tissue Fillers, Chemical Peels, Laser Hair Removal, and IPL.
| Feature | Equipment Financing | SBA Loan | Line of Credit |
|---|---|---|---|
| Best Use Case | Purchasing specific high-cost medical or office equipment. | Large investments: practice acquisition, real estate, major expansion. | Ongoing cash flow management, unexpected expenses, small projects. |
| Loan Amounts | $10,000 - $2,000,000+ (tied to equipment cost) | Up to $5,000,000 | $10,000 - $250,000 |
| Repayment Terms | 2 - 7 years | 7 - 25 years | Revolving (typically renewed annually) |
| Interest Rates | Low to moderate (fixed) | Very Low (often variable) | Moderate (variable) |
| Funding Speed | Fast (1-3 business days) | Slow (30-90+ days) | Fast (1-5 business days) |
| Collateral | The financed equipment itself. | Business assets, often requires a personal guarantee or real estate lien. | Often unsecured up to a certain limit, may require a general lien on business assets. |
Did You Know? The U.S. Bureau of Labor Statistics projects a 3% growth in employment for physicians and surgeons from 2022 to 2032. However, specialized fields like plastic surgery are expected to see even higher demand due to an aging population and the increasing popularity of cosmetic procedures. (Source: BLS.gov)
While requirements vary, most lenders prefer a personal FICO score of 650 or above. However, Crestmont Capital has options for practice owners with scores as low as 600, often by looking at other factors like strong revenue and cash flow.
Loan amounts can range from as little as $10,000 for a small working capital loan to over $5 million for an SBA loan for practice acquisition or real estate. The amount you qualify for depends on your practice's revenue, profitability, credit history, and the specific use of funds.
Yes, financing is available for startups. These loans typically rely more heavily on the owner's personal credit score, a detailed business plan, and financial projections. Equipment financing can also be a good option for startups, as the equipment itself secures the loan.
Funding speed depends on the loan type. Equipment financing and working capital loans can often be funded in 1-3 business days. A business line of credit may take a few days to set up. SBA loans are the slowest, typically taking 30 to 90 days or more due to the intensive application and government involvement.
It depends. For equipment financing, the equipment being purchased serves as the collateral. SBA loans and larger term loans often require a lien on business assets and a personal guarantee. Unsecured loans and lines of credit, which do not require specific collateral, are also available, especially for well-qualified borrowers.
A term loan provides a lump sum of cash upfront, which you repay with fixed monthly payments over a set period. A line of credit gives you access to a pool of funds that you can draw from as needed. You only pay interest on the amount you've drawn, and as you repay it, the funds become available again. A loan is for a specific, planned expense, while a line of credit is for ongoing or unexpected needs.
Yes, this is called debt consolidation or refinancing. If you have multiple high-interest debts (like credit card balances), you can use a new term loan with a lower interest rate to pay them all off. This can simplify your finances into a single monthly payment and save you money on interest.
For most applications, you will need a completed application form, 3-6 months of recent business bank statements, and your most recent business tax return. For larger loans or SBA loans, you may also need to provide P&L statements, a balance sheet, and a debt schedule.
Most lenders, including Crestmont Capital, will perform a "soft credit pull" for the initial application and pre-approval. A soft pull does not affect your credit score. A "hard credit pull," which can have a small, temporary impact on your score, is typically only performed once you decide to move forward with a specific loan offer.
Yes, absolutely. Financing is available for both new and used equipment. This can be a very cost-effective way to acquire high-quality medical devices. The lender will assess the value and expected lifespan of the used equipment when determining loan terms.
Interest rates vary widely based on the loan type, your creditworthiness, and market conditions. SBA loans typically have the lowest rates. Equipment financing and term loans have competitive, fixed rates. Lines of credit and short-term working capital loans may have higher rates due to their flexibility and risk profile.
Many modern financing products, including many offered by Crestmont Capital, do not have prepayment penalties. However, some loans, particularly certain SBA loans or long-term bank loans, may have them. It is essential to confirm this detail in your loan agreement before signing.
While paying with cash avoids interest, financing preserves your liquidity. This cash on hand can be used for unforeseen opportunities, emergencies, or other investments that can generate a higher return than the interest you pay on the loan. For most growing businesses, strategically using financing is a more powerful growth tool than depleting cash reserves.
This is very common and not a problem. You will apply for the loan under your business's legal entity name. Lenders will review the business's financials, and for most small business loans, they will also review the personal credit of the primary owners and may require a personal guarantee.
Yes. Software is considered an essential business asset and is eligible for financing. You can finance the software license, implementation costs, and any necessary hardware upgrades as part of a single equipment financing agreement or term loan.
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Apply Now ->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.