Rangewell

Dental Equipment Finance

Dental equipment is expensive, so make sure you have the funds to acquire and maintain the assets you need for your business.

Speak to one of our experts020 4525 5312
Rangewell

4.4 out of 5 stars on Google!
Our customers trust Rangewell.

Google reviews

Funding options

£

Hire purchase

  • HP up to 60 months
  • Rates from 6%
  • Ideal for long-term needs
  • Undercut "0% finance" deals from suppliers

Lease

  • Variety of leasing arrangements
  • Rates may reflect your professional status
  • No capital requirements
  • Competitive rates

Versatile

  • Reduce demand on cashflow
  • New and used assets
  • Lease any type of asset
  • Supports growth

Talk to the Rangewell team – the business finance experts

Your dental practice has many funding needs when it comes to equipment, but not all lenders will be able to help. We know the entire market, so we can help you find and secure the most appropriate lenders and the most competitive rates for your dental practice.

At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.

Call us020 4525 5312
ScheduleArrange a call-back
Emailfundingenquiry@rangewell.com

Secure the dental equipment finance you need to grow

Avoid significant upfront costs and unexpected repair fees with the right dental equipment financing.

As a dentist, you'll know how important equipment is to the day-to-day operation of your business. From lasers to x-rays, computers and medical equipment, you need significant upfront funds to equip and operate your practice.

Table of Contents

Thankfully, several financing solutions can help ease the burden of both new and existing practices. At Rangewell, we work with practices across the UK to secure dental finance that can help your practice build a real competitive advantage. Keep reading to learn more, or get in touch with Rangewell's team of expert advisors to start your loan application today.

Funding for dental equipment

Dental equipment is expensive. Even a squat practice, which typically only has one dentist, will need high-quality medical equipment to operate. It's not just the price of buying the equipment you need to consider but also any costs associated with maintenance and repairs. 

Since dental equipment is so vital to the success of your business, it pays to have access to the funds you need to ensure any operational downtime is kept to a minimum. A costly repair fee could hit at the worst possible time, impacting your cash flow and even your business's balance sheet. However, with the right finance partner, you can navigate these situations quickly and easily, so you can focus on running your dental practice

Asset finance provides a number of ways to help you spread the cost of the equipment you want for your practice and includes solutions to let you buy outright or lease items of all kinds. Loans or leases are secured on the assets or equipment itself, reducing the costs to you and avoiding the need to put up any other assets, such as property, as security. 

Hire Purchase

With hire purchase, you effectively hire your dental equipment until you’ve paid enough to purchase it.

You’ll normally pay a deposit, plus fixed monthly repayments. When you’ve made all the repayments, your business will own the equipment outright. This can be ideal for durable items that you will want for the long term.

Lease Finance

Leasing gives you full flexibility. By acquiring necessary assets through dental equipment leasing companies, you will have access to repair benefits as well as upgrades. So, you can ensure you are always working with cutting-edge technology - such as laser whitening and x-ray machines. In some leasing arrangements, you have the option to own the asset at the end of the term, upgrade it, or simply give it back.

You can also decide whether you want maintenance and insurance and how long you need the equipment for.  Asset finance can also provide funding for used dental equipment. It can mean paying even less for the key items you need - a good option if you are starting a dental practice and have a lot of other costs to consider. 

How Rangewell can help

As a dental professional, many lenders will be happy to lend to you. But finding the most competitive deal across the entire market takes time and expertise.

At Rangewell, our expertise works for you. We know the lenders who really understand the profession and who can offer the most competitive rates for all types of finance - including asset finance solutions.

Our solutions can usually undercut the finance deals offered by equipment suppliers - even when they offer 0% finance arrangements, and we can also look at your other dental loans and ensure all of your finance products are working well today. 

Call us to build your practice a competitive advantage

At Rangewell, we have an expert team of finance advisors who are by your side at every step of the way. From the application process through to securing the best finance product for you, and even when it comes time to refinance your dental practice - we're here to help. 

Our service is personal. We can discuss your objectives and help find answers for your dental practice financing scaled to fit your turnover and your other obligations.

You can also access additional professional support for your business with our Dentists' Directory - from financial advisors for dentists to accountants and more.


Last update: 13 May 2022

Need finance in a hurry?

Contact our team today to find out your options

Call us020 4525 5312
ScheduleArrange a call-back
Emailfundingenquiry@rangewell.com

Frequently asked questions

Have a question?

What is an equipment financing loan?

Equipment financing is a type of loan that enables businesses to obtain the technology and machinery they need. Typically, the lender will provide a company with finance secured by the equipment used to purchase or hire, and the business pays the money back, with interest, every month. 

The equipment will be used as security, so if a business doesn't meet the repayment terms, the equipment will be taken away. As soon as the loan is paid in full, the company will own the equipment.

How do you get approved for dental equipment financing?

Applying for a dental practice loan has its challenges. This is why Rangewell suggests you come armed with the information below t maximise your approval chances. 

1. Have a strong history of making your payments on time and having a good credit score.

Ideally, it would help if you looked to seek a credit score of over 720. It's important to note that debt doesn't weigh much in terms of the bank decision of lending to dentists, but the history of making payments on time is essential. 

2. Do your homework

Think about if you want to buy your practice or establish your very own start-up. At this point, you might not have an idea in mind of the specific practice you wish to buy, but if you're preparing for a brand new start-up, you'll need a good understanding of the process before you begin.

3. Build your team of experts 

A solid financial team behind a dentist is essential. This means you'll need to understand your number and be prepared. There are many steps to follow in this process, and your lender has the responsibility to look after you. Our brokers will make sure the transaction is as smooth as possible for both parties. Speak to Rangewell to find out how our dental equipment finance experts can help you.

4. Use a dental equipment finance expert

Rangewell works with some of the UK's top lenders who can provide you with a package completely tailored to your business needs. 

How do you qualify for a dental practice loan?

It's essential to speak to finance experts in the field. They can assess your specific circumstances and provide bespoke advice to ensure you give yourself the best possible chance of securing the best loan at the best rate. They can also discuss finance models with you to give you an idea of what profit you will make, the dental workload required, repayment on the loan, the deposit amount you'll need, and, more importantly, what salary you can make. 

You'll need to understand your budget before you even start searching the market. Our finance teams can work out affordability. This will give you an idea of what you can and can't afford. You can then better tailor your search and manage your expectations. 

It is crucial to set up a lump sum for all the additional costs that buying a practice incurs to determine accurate affordability. These will include legal fees, bank fees, valuation costs. 

Our top tips are:

  • Speak to a dental finance expert at Rangewell before looking at practices
  • Factor in all potential costs when determining affordability
  • Typically, as a rule of thumb, mixed or NHS practices under £600k require approx 10% deposit if there are no assets
  • Mixed or NHS practices over £600k require around 20% deposits if there are no assets
  • With enough security, loans are available for 5% cash deposits

You may be interested in...

Tips for Running a Successful Dental Practice

Tips for Running a Successful Dental Practice

Whether you are starting a new dental practice or hoping to grow an existing operation, then this guide will help you to...

12 January 2022
Tips on Writing a Dental Practice Business Plan

Tips on Writing a Dental Practice Business Plan

If you run a dental practice or group of practices, then you’ll know just how difficult the last few years have been. Th...

12 January 2022
Insolvency Advice for Dental Practices

Insolvency Advice for Dental Practices

Dental practices faced unparalleled challenges during the COVID-19 pandemic, placing strain on their income and forcing...

11 January 2022
How to Sell a Dental Practice

How to Sell a Dental Practice

Choosing which type of buyer you’d like to sell to, setting a value and understanding the legal and regulatory req...

10 January 2022