Dental Equipment Financing: Compare Lenders Online

Buying equipment for your dental practice can be like pulling teeth.

“It was overwhelming,” says Chicago-based dentist Genaro Romo. The challenge, he says, is not just deciding what type of dental chair or x-ray system to buy, but also figuring out how to pay for it all.

Setting up a basic workspace for a dental office, including a dental chair, lighting and digital X-ray equipment, can cost up to $50,000, Romo says. “You also have to buy instruments and equipment,” he adds. “There’s a lot more than major equipment.

Some dental equipment suppliers offer lease-to-own and short-term financing options. Romo says he had a “reasonable” monthly payment through a lease-purchase agreement for his digital imaging equipment.

If you don’t have great credit or are hesitant to go through the traditional – and usually lengthy – banking application process, online small business loans are an option.

We’ll start with a short questionnaire to better understand your unique business needs.

Once we discover your personalized matches, our team will consult with you on the process to follow.

Here are 2 dental equipment financings

Our choice for

Strong companies

SBA 7(a) loan

Maximum loan amount

$5,000,000

Min. credit score

650

East. APR

7.75-10.25%

Participants in the 7(a) program include specialty lenders like Live Oak Bank and large traditional banks like Wells Fargo.

Lowest interest rate

Our choice for

Competitive borrowing costs

Funding Circle – Online Term Loan

Maximum loan amount

$500,000

Min. credit score

660

East. APR

10.64-31.85%

The Funding Circle is an option for established businesses funding an expansion or refinancing debt.

Can finance quickly

For strong businesses: SBA loans

Loans backed by the US Small Business Administration are among the cheapest options for financing dental equipment, with SBA loan rates ranging from 5.50% to 8.25%. Several lenders participate in the SBA loan program, and financing amounts can reach $5 million.
In addition to purchasing equipment, dental offices can also refinance their existing debt with an SBA loan. Lowering your overall monthly payment means better cash flow to afford other expenses.

For competitive borrowing costs: Funding Circle

Funding Circle provides funding for major dental office expenses, such as the purchase or replacement of dental chairs. Chairs alone can be a significant investment, as they experience significant daily wear and tear in a busy practice.

The Funding Circle is a good option if your dental practice has been in business for about two years and your finances are strong.

Compare small business loans

Compare equipment financing options to find the best deal for your business. NerdWallet has a list of the best small business loans. All of our recommendations are based on market scope and lender track record and business owner needs, as well as rates and other factors, so you can make the right financing decision.

Last updated on November 21, 2019

To recap our picks…

Dental Equipment Financing: Compare Lenders Online

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