There’s certain situations in life where, looking back, you wish you knew more than you did before taking action.
Entering into a medical equipment lease is one of those life situations. It is a good idea to be well equipped with information before signing on the dotted line.
What is one thing companies should know about medical equipment leases?
We asked experts and people who have “been there and done that” for their insights. Here are eight things to know about medical equipment leases.
- Involvement of MD (Medical Doctor)
- Know That Your Capital Can Be Reinvested
- Basic Lease Conditions
- Long Term Contracts
- Risk of Loss Clause
- Required Collateral
- Down Payment Alternatives
- Purchase Options
Involvement of MD
When we are asked to finance a piece of medical equipment, the lender always asks if a medical doctor (MD) is involved in the operation of the medical equipment. The MD does not have to be an owner of the business, but it’s helpful when the MD is involved in the operation of the business.