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With U.S. health care spending surpassing $4.5 trillion in 2023, practices of all sizes, from solo clinics to urgent care centers, are under pressure to invest in new equipment without exhausting their cash flow. Whether you're purchasing an MRI machine, upgrading exam chairs, or outfitting a new surgical suite, you need funding partners who understand the realities of the health care industry.
The good news? The medical equipment financing market itself is expanding, expected to reach $336.13 billion by 2032. More lenders are tailoring their programs for medical professionals, offering fast approvals, flexible terms, and competitive rates.
We've broken down the top companies offering equipment loans and leases in 2025, so you can match your business needs with the right funding solution.
| Lender name | Financing type | Estimated rates | Approval speed | Equipment types financed | Standout feature |
|---|---|---|---|---|---|
| Clarify Capital | Broker (loans and leases) | 6%–18% | As fast as 24 hours | New and used medical equipment | Matches borrowers with 75+ lenders for best-fit terms |
| Bank of America | Equipment loan | 7%–12% | 2–5 business days | New purchases only | National bank backing, offers SBA options |
| CIT (First Citizens) | Loan and lease options | 6.5%–16% | 1–3 days | Diagnostic and imaging systems | Specializes in health care lending |
| National Funding | Lease, working capital | 7%–19% | 24 hours | Most small-practice equipment | Low credit score threshold |
| Balboa Capital | Lease | 8%–20% | Same-day approval | Equipment under $250K | Fully online application process |
| Sofi / Laurel Road | Business loan | 7%–15% | 1–5 business days | Technology and general equipment | Competitive rates for health care professionals |
| SMB Compass | Equipment loan | 5.99%–15% | 24–48 hours | New and used equipment | Long repayment terms, up to 10 years |
| Crest Capital | Loan and lease | 6%–15% | 1–3 days | Most medical equipment | No blanket lien, strong customer service |
Top Medical Equipment Financing Companies of 2025
The medical equipment financing landscape continues to evolve, with leading lenders and leasing companies offering tailored solutions for health care providers' financing needs. In 2023, medical equipment was the most financed category in the U.S., with 84% of acquisitions made via loan or lease. Here, we'll profile top medical equipment financing lenders for 2025, highlighting their unique offerings, borrower fit, product features, repayment terms, and funding speed.
Clarify Capital
Clarify Capital stands out among medical equipment financing lenders as a modern broker platform that connects health care providers with a wide network of lenders. Through a single, streamlined application, borrowers can access multiple funding options tailored to their specific financing needs.
Best-fit borrower: Small to midsize practices, startups, and established health care businesses seeking competitive rates and flexible terms
Standout features:
Access to 75+ lenders with one application
Personalized loan and lease offers
Transparent process with no hidden fees
Repayment terms:
Flexible terms from one to 10 years
Early payoff options without penalties
Funding speed:
Same-day to 48-hour approvals for qualified applicants
Henry Schein
Henry Schein is a trusted name among leasing companies, offering medical equipment loans and leasing solutions for practices of all sizes. Their programs support equipment upgrades, technology investments, and practice expansion.
Best-fit borrower: Medical and dental practices seeking a full-service partner for equipment, technology, and working capital financing
Standout features:
100% financing available
Simple application and same-day approvals
“Route 66” financing: no payments for six months, then low monthly payments
Repayment terms:
Terms from one to 15 years
Leasehold improvement and working capital options
Funding speed:
Same-day approval possible
Synovus
Synovus provides comprehensive medical equipment loans and leasing options, including up to 100% financing for new equipment
Best-fit borrower: Health care businesses needing to finance large purchases or seeking flexible repayment structures
Standout features:
Up to 100% financing, including taxes and installation
Fixed or floating interest rates
Guidance lines of credit for recurring needs
Repayment terms:
Up to 10 years
Customizable schedules
Funding speed:
Fast approvals; immediate funding for guidance line users
DLL Group
DLL Group is a global leader in health care equipment financing, serving providers, manufacturers, and dealers with innovative solutions
Best-fit borrower: Hospitals, group practices, and medical manufacturers requiring scalable, strategic financing.
Standout features:
100% financing, including bundled payment options
Digital tools for streamlined application and management
Flexible upgrade paths for new technology
Repayment terms:
Customizable, including usage-based and bundled plans
Funding speed:
Streamlined process with digital and mobile solutions
Med One Group
Med One Group specializes in flexible medical equipment financing and leasing for health care facilities of all sizes.
Best-fit borrower: Hospitals, clinics, and vendors needing creative structures and rapid access to equipment
Standout features:
No upfront money required
Simple lease documents with no hidden fees
Rent-to-own and deferred payment options
Repayment terms:
Flexible and delayed payment schedules
Fixed lease payments
Funding speed:
Fast decisions and funding
National Funding
National Funding is a leader among medical equipment financing lenders, offering both loans and leases with a focus on speed and simplicity.
Best-fit borrower: Medical practices seeking low monthly payments and quick access to capital
Standout features:
Funding in as little as 24 hours
No collateral requirements
Personalized payment options
Repayment terms:
Tailored to the borrower's needs
Funding speed:
Approvals and funding within 24 hours for qualified applicants
Additional Noteworthy Lenders
CIT (First Citizens): Specializes in health care lending with competitive rates and a focus on imaging and diagnostic equipment
Balboa Capital: Fully online application process, ideal for equipment under $250K and rapid approvals
In Summary
The best medical equipment financing lenders in 2025 offer a broad array of solutions to meet the diverse financing needs of health care providers. Clarify Capital leads the way with unmatched access to multiple lenders and a streamlined application process, making it a top choice for those seeking efficiency and competitive terms.
For any health care business, comparing lenders based on product features, repayment terms, and funding speed is essential to securing the right financing for growth.
What To Look for in a Medical Equipment Financing Lender
Choosing the right medical equipment financing partner goes beyond finding the lowest rate. As a borrower, you need to weigh several factors, especially when equipment costs can climb into six figures and approval timelines impact your ability to deliver care.
Here are the key criteria to evaluate when comparing equipment financing options:
1. Interest Rates and Repayment Flexibility
Interest rates will vary based on your credit score, time in business, and lender type. Look for fixed-rate options with no prepayment penalties, especially if you plan to pay off early.
Secured loans may offer lower rates but require collateral.
Leasing may offer flexibility but result in a higher long-term cost.
According to the Equipment Leasing and Finance Association (ELFA), 62% of equipment buyers finance to optimize cash flow, while 26% prefer leasing, 16% secured loans, and 14% credit lines, reinforcing that structure matters.
2. Equipment Compatibility
Not all lenders finance every type of health care tool. Confirm whether they cover the equipment needs of your medical practice, from MRIs and sterilizers to cutting-edge dental imaging systems. Some specialize in used equipment or particular medical devices, while others only finance new purchases.
3. Speed and Credit Approval Process
For urgent upgrades, ask how long their credit approval takes. Many online lenders offer same-day decisions, while banks can take one to two weeks. Ask what documents you'll need and what minimum credit score is required.
4. Customer Support and Transparency
Fast funding is great, but service matters too. Look for lenders that assign a dedicated advisor, provide transparent application process timelines, and clarify repayment terms before signing.
Direct Lenders vs. Brokers: What's the Difference?
Direct lenders fund loans from their own capital. Brokers (like Clarify Capital) match you with vetted lenders across the market.
| Option | Pros | Cons |
|---|---|---|
| Direct lender | Streamlined communication, consistent underwriting | Limited to one lender's terms |
| Broker | Access to 75+ programs, more flexible approvals, rate shopping | Slightly longer process if comparing multiple offers |
Working with a broker gives you options, ideal if your credit score is borderline or your business needs fall outside traditional guidelines.
Clarify Capital: A Flexible Broker for Equipment Financing
In the fast-paced health care industry, waiting weeks for a bank to approve a loan isn't just inconvenient; it can delay patient care. That's where Clarify Capital comes in. As a broker, not a direct lender, Clarify connects small business owners and health care providers with over 75 lending partners to find the best-fit business loans, leasing options, and working capital loans, without the back-and-forth.
Instead of applying to multiple lenders one by one, you complete a simple, two-minute online application with Clarify. Their system then matches you with financing programs tailored to your equipment needs, credit profile, and budget. A dedicated advisor walks you through terms, helping you compare offers before making a decision.
Because Clarify understands the specific needs of health care professionals, from solo practice owners to multi-specialty clinics, our approach is built around speed, flexibility, and minimal paperwork. Many borrowers are approved within 24 hours, with funds available as quickly as the next business day.
For practices juggling expenses and planning for growth, this broker model makes it easier to get the right equipment financing solutions without sacrificing time or cash flow.
How To Choose the Right Financing Partner
Every medical practice has different priorities when it comes to funding new or upgraded equipment. For some, preserving cash flow is key. For others, long-term ownership or flexible terms matter more. That's why it's important to weigh your equipment needs, timeline, and budget before choosing between banks, brokers, and niche equipment financing companies.
Whether you're expanding imaging capabilities or upgrading surgical tools, the right partner should understand how health care professionals operate and offer fast, flexible support when you need it. Some lenders may specialize in leases; others in long-term loans. A broker like Clarify Capital helps you compare them all in one place.
By matching you with top lenders based on your credit profile, business goals, and equipment type, Clarify makes the process efficient, without compromising options or speed.
Compare financing options with Clarify Capital today. Apply now or get a personalized consultation to find the best solution for your equipment purchase.
FAQs About Medical Equipment Financing
Here are answers to the most common questions health care providers ask when researching how to fund new or used medical technology for their practice.
What Is Medical Equipment Financing, and How Does It Work?
Medical equipment financing lets health care providers spread out the cost of new or used equipment over time. Rather than paying the full amount upfront, you make regular lease payments or loan repayments, often monthly, based on agreed terms.
Once you complete a simple application process, a lender (or broker like Clarify) reviews your financials and offers financing options that align with your credit profile, time in business, and the type of equipment you're buying. In most cases, the equipment itself serves as collateral.
What Credit Score Is Needed for Medical Equipment Loans?
Most lenders require a minimum credit score of 575 to 600 for approval, though stronger credit often leads to better terms. If your score is below that range, brokers can often connect you with alternative financing or short-term options to get you started.
Should I Lease or Buy Medical Equipment?
If you need flexibility, want to conserve cash, or regularly upgrade medical technology, leasing might be your best option. Leases typically have lower upfront costs and make it easier to access the latest tools every few years.
Buying makes sense if you plan to use the equipment for the long haul and want to build long-term value. It usually involves higher initial costs but may come with tax advantages and no recurring lease obligations after repayment.
How Fast Can I Get Approved for Medical Equipment Financing?
With online lenders and brokers like Clarify Capital, approval can happen in as little as 24 hours. Traditional banks may take three to seven days or longer, depending on their application process and internal review. To speed things up, have your business documents, bank statements, and equipment quotes ready.
Emma Parker
Senior Funding Manager
Emma holds a B.S. in finance from NYU and has been working in the business financing industry for over a decade. She is passionate about helping small business owners grow by finding the right funding option that makes sense for them. More about the Clarify team →
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