Skip to content
1West GuidesIndustry financing resources by 1West

1West guide: Healthcare practices

Medical equipment financing for practices and clinics

Medical equipment financing lets a practice acquire imaging, exam or lab equipment now and pay for it over time through a loan or a lease.

This 1West guide covers financing for medical equipment: how loans and leases differ, what down payments and buyouts look like, and what to prepare. 1West lists medical and dental equipment among its eligible equipment categories and lets practices compare offers through one application.

Last updated: Published by 1West, the financing company this guide covers

Start your 1West applicationEstimate a payment

How does financing medical equipment work?

Get a quote from the manufacturer or dealer, apply, and choose between a loan you own once repaid or a lease that may end in a $1 buyout. The lender typically pays the vendor directly, and the practice makes fixed payments. 1West publishes equipment financing terms of 5 to 60 months, as of November 2026.

Medical equipment financing at a glance

Definition

What medical equipment financing is

Medical equipment financing is a loan or lease secured by clinical equipment such as imaging systems, exam tables, lab analyzers or dental chairs. Because the equipment usually serves as collateral, 1West notes that equipment financing rates tend to be lower than many other forms of small business funding. It spreads a large purchase over the period the equipment produces revenue, which helps a practice keep cash on hand for payroll and supplies.

1West also accepts software within equipment financing, which can matter for practice systems.

Numbers

Published figures for medical equipment financing

  • Many medical equipment loans require a 10% to 20% down payment, per "How Medical Device Financing Can Improve Patient Care."
  • Some structures end with a $1.00 buyout to purchase the equipment, per the same guide.
  • 1West equipment financing: rate as low as 7%, $10K to $5M, 5 to 60 months, about 1 week to fund (November 2026).
  • 1West general baseline: 600+ FICO, six months in business, $20,000 monthly revenue, four months of statements.

Loan or lease for medical equipment?

Choose a loan for long-life equipment you want to own, such as exam room build-outs. Choose a lease when technology turns over quickly, such as some imaging or IT systems. A capital lease with a $1 buyout sits in between.

1West comparison: medical equipment financing structures
StructureOwnershipUpfront costBest fitWatch for
Equipment loanYou own it once repaidOften 10% to 20% down, per one guideLong-life clinical equipmentTotal interest over the term
Capital lease ($1 buyout)Transfers for $1 at the endVaries by lenderOwning without a large down paymentLease rate versus loan rate
Operating leaseLessor keeps itVaries by lenderFast-changing technologyReturn conditions and fees
Working capitalNot tied to an assetNone tied to equipmentMixed needs alongside equipmentUsually costs more than secured

How to apply for medical equipment financing

  1. Request a formal quote

    Include model, configuration, installation and training so the full cost is financed in one offer.

  2. Gather statements

    Download four months of business bank statements as PDFs.

  3. Apply with 1West

    ABLE matches the practice with lenders whose equipment programs fit your profile.

  4. Compare total cost

    Line up loan and lease offers on total repayment, ownership and term before choosing.

Choosing among medical equipment financing companies

Medical equipment financing companies range from manufacturer finance arms to banks and online lenders. Rather than ranking them, compare real offers on the same terms: APR and total repayment, term length, down payment, end-of-term ownership and time to fund. Medical equipment financing rates depend on your credit, the equipment and the lender.

1West's role is to help a practice reach multiple lenders through one application and review offers side by side, with expert guidance. 1West publishes a step-by-step article on medical equipment financing applications on its main site.

How we chose what to include

Structures were compared on ownership, upfront cost, best fit and what to watch. Figures come from 1west.com and named industry guides. No company is ranked and no rate beyond 1West's published figure is stated.

This guide was written and published by 1West, the financing company it covers. It is not an independent review. Read the full methodology.

Medical equipment financing questions

What is medical equipment financing?

Medical equipment financing is a loan or lease that lets a practice acquire imaging, exam, lab or other clinical equipment and pay for it over time. 1West lists medical and dental equipment among the categories its equipment financing covers. The equipment usually secures the financing, which is why rates are often lower than for unsecured funding.

More answers in the FAQ

What down payment do medical equipment loans need?

Many medical equipment loans require 10% to 20% down, according to the guide "How Medical Device Financing Can Improve Patient Care." The same guide notes some structures end with a $1.00 buyout to purchase the equipment. Your actual down payment depends on the equipment, your credit and the lender, and some offers may require none.

More answers in the FAQ

What credit score is needed for medical equipment financing?

1West generally looks for a 600+ FICO score across its financing options, including equipment financing for medical and dental practices. Higher scores can lead to better rates and terms. Because the equipment usually serves as collateral, equipment financing can be easier to qualify for than unsecured funding, though each lender sets its own rules.

More answers in the FAQ

Is equipment financing a loan?

Equipment financing can be a loan or a lease. 1West describes it as a loan or lease used to buy a specific piece of business equipment. With a loan, you typically own the equipment once it is paid off and the lender releases its claim. With a lease, ownership at the end depends on the lease terms, such as a $1 buyout.

More answers in the FAQ

What is durable medical equipment financing?

Durable medical equipment usually means items such as wheelchairs, hospital beds and oxygen equipment prescribed for use at home. Businesses that supply or use this kind of equipment can explore equipment financing like any other asset purchase. 1West lists medical and dental equipment among eligible categories, so confirm with the lender whether a specific item qualifies before you apply.

More answers in the FAQ

What are the top healthcare finance companies?

These guides do not rank lenders or finance companies. A more useful approach is to compare actual offers on the same criteria: total repayment, APR, term, down payment, collateral and time to fund. 1West's ABLE platform lets you apply once and compare offers from multiple lenders side by side, so you judge on your own numbers.

More answers in the FAQ

How fast can equipment financing fund?

1West's equipment financing page lists about one week as the time to fund, as of November 2026. Market sources describe a wide range: Rezku says online lenders may fund within 24 to 72 hours, and Biz2Credit notes some lenders decide within 24 hours for highly qualified borrowers. Timing is never guaranteed and depends on your documents and lender review.

More answers in the FAQ

Compare medical equipment financing offers

Apply once with 1West and review loan and lease offers side by side before committing.

Start your 1West application

Financing is subject to lender approval and final terms.

Sources cited on this page

  • 1West Equipment Financing: rate as low as 7%, 5 to 60 month terms, $10K to $5M, about 1 week to fund, eligible equipment and process
  • How Medical Device Financing Can Improve Patient Care: 10% to 20% down payments common; possible $1.00 buyout at term end
  • Flexible Healthcare Equipment Financing Options Available: capital lease with $1 buyout as a structure
  • 1West homepage: products, $5K to $1M+ amount selector, ABLE, published company figures