Using Asset Based Lending To Purchase Medical Supplies
For medical practices of all sizes, having access to the working capital necessary to buy supplies is essential. CNH Finance understands this, and we also know independent medical practices and large medical centers alike should not have to rely on debt based structures to get the working capital they need to buy supplies. Because of this, we offer medical financing loans in the way of asset based lending to purchase medical supplies.
Using Asset Based Lending To Purchase Medical Supplies or Financing Medical Equipment
Asset based lending taps into the value of fixed assets and more, including:
- Owned facilities
The value of the above items is used to create a revolving line of credit, giving healthcare providers the working capital to purchase medical supplies.
Loans And Advances Create Problems
All too often, healthcare providers use short-term loans and cash advances to get the medical working capital they need to purchase medical supplies and equipment. These solutions can actually do more harm than good. Short-term loans offer a limited amount of working capital, and place debt on the balance sheets. Once the capital has run out, healthcare providers are not only back at square one, but they have debt to pay off and impacted credit ratings to boot. On a similar note, cash advances, while they do not affect credit ratings, provide limited amounts of capital with high interest rates. Additionally, cash advances can only be repaid through credit card transactions. Unless patients are constantly settling their open invoices with credit cards, and not using cash, checks, or insurance supplements, a simple cash advance can place a major strain on finances.
The Advantages Of Using Asset Based Lending For Medical Supplies
Using asset based lending from CNH Finance for medical practice financing gives healthcare providers a number of advantages, such as:
- No debt on the balance sheets
- No compromised credit ratings
- Revolving line of credit
- Ongoing financing
- Extremely favorable terms and rates
- Financing that grows with your practice
Asset Based Lending Grows With Your Practice
The demand for medical supplies is always growing. As practices and large healthcare centers accommodate more patients, expand facilities, and see a higher volume of receivables, CNH Finance will also be there to help. Our assets based lending for medical supplies grows with your practice. We will reassess the value of your fixed assets and increase the amount of asset based lending available to reflect the growth you have experienced. Our asset based lending for medical supplies increases with your needs.
Learn More About Asset Based Lending For Purchasing Medical Supplies
CNH Finance provides asset based lending to purchase medical supplies, as well as other aspects of the healthcare industry.
If you are in need of medical working capital, but want to sidestep the pitfalls of debt-based financing and cash advances, contact the experts at CNH Finance. Our asset based lending program provides debt-free working capital that promotes growth and success for medical providers of all sizes and specialties.