Getting financing for dental equipment with MicroCapital is very simple. The financing works like a fixed-term loan. You have to repay the loan (between $5,000 and $300,000) in pre-established fixed payments until the loan and interest are fully repaid.
What are the eligibility criteria?
Here are the eligibility criteria to qualify for a fixed term business loan:
The company operates in Canada
Annual income: 100 000$
No active bankruptcy
The company has been operating for at least 6 months
Who can lend money to businesses to finance dental equipment?
There are different options to finance dental equipment for a business in Quebec, some examples are:
Bank and private loans to finance the purchase of dental equipment
Government grants to help businesses buy dental equipment
Leasing or renting dental equipment with purchase options at the end of the contract.
Getting a business loan is an easy process, you just have to click on the “Start” button to fill out a quick application and get pre-approval. If you meet the criteria, one of our agents will contact you to finalize the necessary steps.
To do this, you will have to provide additional information about your business, such as recent financial statements, cash flow information, information on guarantees and a description of the equipment you want to finance.
What are the eligibility criteria?
To be eligible for dental equipment financing with us and our partners, you must meet the following criteria: a personal credit score of at least 550, a business credit score of at least 1300, be a Canadian business, have an annual revenue of at least $100,000, have been operating in Canada for at least 6 months, and not be in active bankruptcy.
What is the business term loan rate for dental equipment financing?
Interest rates for fixed repayment business loans vary between 8% and 29% depending on the financial situation of your business and that of its owner.
Which industries are not accepted?
Although we provide loans to over 700 industries, we and our partners cannot provide financing for certain industries considered risky: firearms suppliers, government agencies, horoscope/divination, adult entertainment, public administration, NPOs, religious organizations, money service businesses and all lottery/casino/betting related activities.
Example of repayment of a fixed-term loan
In the example of a term loan of $45,000 at an interest rate of 12% repayable over 18 months. The monthly reimbursement payments will be $2,597.22 for a total amount of $46,728.00. Interest on the loan will be $1,728.00.
You can use the following loan calculator offered by calculator.net to reproduce and view other business loan repayment examples.
What dental equipment can you finance?
There are different types of dental equipment that can be financed, such as: – Dental care units (dental chairs, lighting, instruments) – X-rays (panoramic, digital, cephalograms) – Dental office management software – Surgical instruments – Dentures (false teeth, bridges, crowns) – Dental materials (composites, cements, anesthetics) – Sterilization equipment – Teeth whitening equipment – Diagnostic instruments (intraoral cameras, scanners)
Our 100% Canadian company was created to provide reliable, flexible, and fast financing solutions to Canadian small and medium-sized businesses.
99.2% Satisfaction rate
We finance small and medium-sized businesses in over 700 different industries.
What industries do we finance?
and more than 700 others…
We help Canadian SMBs get the funding they need to succeed in over 700 different industries. At MicroCapital, we are committed to providing financing solutions that are tailored to the needs of your business, whether you’re running a factory, a restaurant, or any other type of business. We understand that every business has unique financing needs, which is why we offer a variety of financial products to meet those needs. Whether you’re looking to buy new equipment, finance an expansion, or restructure your cash flow, we have a solution that’s right for your situation.
Our team works closely with you to understand your needs and offer you the most appropriate solutions. We are proud to help Canadian businesses achieve their projects and reach their full potential.
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