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Equipment Finance for Pharmacists

Helping you equip your business

Speak to one of our experts020 4525 5312

Funding options

£

Hire Purchase

  • Terms from 6 to 72 months
  • No Maximum value
  • Annual rates from 6%
  • We can almost always undercut so called "0% finance" deals from suppliers

Leasing and Contract Hire

  • Reduce monthly outgoings
  • Adverse Credit – no problem
  • Assets generate cash - paying for themselves
  • No cash upfront

Versatile

  • Funds for any type of equipment
  • Up to 100% funding
  • Lease any type of asset
  • New or used equipment

Talk to Rangewell – the business finance experts

At Rangewell, we use our contacts across the entire UK lending industry to provide funding that brings you the equipment you need - and costs you less.

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.

Your pharmacy depends on the best equipment to bring in customers

Rangewell can source finance to help with this

Stay competitive with the right finance package for your pharmacy business.

The pharmaceutical profession is highly competitive. There are chemists shops on every high street. Many are part of large chains or franchises. If you are working as an independent, you will need to find ways to provide the same level of equipment as they do.

What Dental Equipment Can I Finance?

Whether you are starting up or ready to move your current business on, a wide range of equipment will be essential, including:

  • Pharmacy equipment  - balance, measures, drug safes
  • Security equipment - alarms, shutters and CCTV
  • Shop equipment -  displays, lighting and POS
  • Vehicles - a car to help provide a mobile service

At Rangewell we have found that Asset Finance can provide the most cost-effective solutions for most kinds of equipment. Asset Finance covers a range of funding that provides all kinds of assets - pharmacy equipment, vehicles, and even straightforward items such as sales displays and racking - without making impossible demands on your cash flow.

Found new or secondhand equipment for your practice?

Spread your payments and beat supplier finance

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What is Equipment Leasing?

Leasing works much like a rental agreement and lets you use the equipment you need without having to buy it outright. You pay the finance company each month for using the asset. Leasing can also include maintenance agreements - meaning that keeping your equipment in perfect condition is the responsibility of the lender. It can be the ideal solution for delicate equipment such as your dispensary scales.

What is a Hire Purchase?

Hire Purchase lets you acquire an asset right away and spread the costs in instalments over an agreed time, often up to 5 years or more. At the end of this term, you own the asset outright. Hire Purchase is often used for items that have a high cost and a relatively long life. A drug safe which you will use for years might be ideal for Hire Purchase.

Why lease equipment?

The most significant advantage of leasing business equipment is that it allows you to acquire assets with minimal initial expenditures. Equipment leases rarely require down payment. You can obtain the goods you need without significantly affecting your cash flow. 

Should I get new equipment or refurbished equipment?

Reasons to go with new equipment

New items usually come with a warranty, so if anything goes wrong, then there's a chance you'll need to pay out for a fix. However, you should remember that used equipment might still come with a warranty or extended warranty depending on how old and used the item is. You should also not forget that certain warranties are non-transferable from one owner to the next.

Reasons to go with used

Buying a new piece of equipment can be expensive. Depending on what you're purchasing, along with availability and demand, you also might be able to get two or more used items for the same price as one new piece. New equipment can also come with expenses that you have not taken into consideration. Sales tax and more money for insurance are significant factors that could blow a budget. 

New equipment may be ideal, but refurbished equipment can also be a good investment for the future of your business. We can help you cut costs with pre-owned equipment – then cut them again with Asset Finance.

Speak to Rangewell to find out how we can help you source the equipment for your needs. 

Can a pharmacy equipment supplier provide finance?

Pharmacy equipment suppliers will provide their own Asset Finance arrangements, and may even offer 0% finance to close the sale. With a 0% deal, the dealer pays the funding company the cost of the interest which they would otherwise take from you. You won’t pay the interest, but the supplier will build the interest cost into his sale price. As specialists in funding, we can usually undercut the finance deals offered by equipment suppliers - even when they offer 0% finance arrangements - call us to see how.

Whatever finance you need for your pharmacy

Our specialist team can support you with a finance package that answers all your challenges

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Why you need help from Rangewell for pharmacy equipment finance

There are many different types of Asset Finance and many different providers. Not all providers work in every sector, and terms and rates can vary widely. At Rangewell, our team includes specialists in the pharmacy sector and we can help with a wide range of finance for pharmacists, including specialist products such as Jigsaw Finance for pharmacists and Tax Loans for pharmacists.

Visit our Pharmacists' Directory to access support for your business, including pharmacy equipment suppliers to specialist professional services. Call us to get the answers your chemist or pharmacy business needs.

Discover our range of finances

Every type of finance for every type of business

Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.

Helping you build your profits

  • Reduce or eliminate capital costs
    Some types of funding remove the need for upfront capital expenditure altogether.
  • Repayments that work with your operating budget
    Asset Finance is secured on the assets themselves, reducing costs and helping your repayments fit your budget.
  • Funding scaled to your needs
    We can help you fund equipment at all levels, from individual items to shop contents.
  • Reducing your risk
    Asset Funding is secured on the assets themselves. If repayments became a problem, the lender could simply repossess the equipment.
  • Lease cutting edge equipment
    Leasing that will let you update your equipment whenever you need to. It means you can always work with the latest, most efficient technology.
  • Cutting costs with specialist lenders
    Some lenders specialise in particular business sectors. At Rangewell, we can help you find these specialist lenders, helping you cut costs and simplifying applications.

Download Rangewell’s free and detailed guide to Equipment Finance for Pharmacists

How does Equipment Finance work?

What are the options?

How can you apply?

What are the costs?

What are the restrictions?

The paperwork you need to provide with your application

Key terms to check

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Equipment finance may count as debtLenders may view long-term equipment finance arrangements as debt and adjust their valuation of your business, reducing your ability to access other types of finance.
Your key equipment could be at riskIf you are unable to keep up repayments on a hire purchase or lease agreement, the equipment your business depends on could be at risk.
Getting maintenance and repair as part of your lease may be essentialLease arrangements may include maintenance and repair. If these are the responsibility of the leasing company you need to ensure they have the necessary resources and arrangements to support your equipment.

Frequently asked questions

Have a question?

What are the benefits of leasing dental equipment?

Here are just some benefits of leasing equipment:

  • Less initial expense. The primary advantage of leasing business equipment is that it allows you to acquire assets with minimal expenditures. In addition, equipment leases will rarely require a down payment, so you can obtain goods when you need to without affecting cash flow. 
  • Tax-deductible: Lease payments can usually be deducted as business expenses on your tax return, reducing the cost of your lease
  • Flexible terms: Leases are usually easier to obtain and have more flexible terms than loans for buying equipment. 
  • Easier to upgrade equipment: Leasing allows businesses to address the problem of obsolescence. If you use your lease to obtain potentially outdated items, you are free to lease new, higher-end equipment after your lease expires. 

Is it hard to get finance for equipment?

Due to the nature of the loan, the equipment financer is responsible for the ongoing cost and maintenance of the machinery. However, this will also depend on the type of equipment and the type of business. But it's generally a low-risk investment for the business owner. 

Businesses that have struggled to qualify for other types of finance should find equipment financing easier to secure. In addition, owners may have access to this line of credit reasonably quickly, and there is little security required against the loan. 

How do you get approved for equipment finance?

Here are some critical steps to follow to get an equipment loan: 

Make sure your credit is in good shape - If you've had late credit card payments, defaulted on loans, and have a history of bad credit - these things may work against you when applying for equipment loans. Most lenders may not extend any loan to a small or online business that is deemed too risky. 

Have a solid business plan - Some lenders will look at your business plan as a roadmap of future success. So provide detail on your current cash flow system and project and set goals for your business growth. 

Have cash flow statements ready - Being able to show your money coming and your money going out is a critical factor that most lenders require before issuing any equipment loan. 

Question Not Answered?

Our finance experts are waiting to answer questions and discuss your finance options. Get in touch with us and we'll be happy to help.

Our service is:

Impartial

Transparent and independent, treating all lenders equally, finding the best deals.

In-depth

Every type of finance for every type of business from the entire market - over 300 lenders.

Personal

Specialist Finance Experts support you every step of the way.

Free

We make no charge of any kind when we help you find the loan you need.