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Hire purchase for clinical equipment typically suits a UK limited company or sole trader with trading history and credible cashflow to meet monthly payments. Lenders generally require an equipment-specific purchase plan, including a quote or invoice, plus documents such as recent accounts and bank statements. Terms are often set between 24 and 72 months, with deposit requirements depending on risk, business age and equipment type or condition. Pricing is commonly presented as a fixed monthly repayment plan, with an APR equivalent range often around 8.9% to 16.9% for qualifying cases. Decisions are often 1 to 2 weeks once the quote and core documents are provided.

Equipment leasing, or a finance lease, is often chosen when a clinic wants to upgrade technology without purchasing outright. Lenders assess affordability and require a supplier quote and a clear equipment specification. Deposits and lease rentals depend on expected residual value and equipment risk. Typical amounts range from £5,000 to £200,000, with terms commonly between 24 and 60 months. Rather than a single advertised interest rate, lease pricing is reflected in rentals, and for suitable SME cases a typical band is often mid-to-high single digits to mid-teens APR equivalent. The decision is often 1 to 2 weeks after quote and standard business documents are supplied, with more time for complex equipment schedules.

A secured asset loan is a term loan where the lender takes security over the purchased equipment, and in some cases additional business security depending on value and risk. Clinics need to demonstrate affordability using financial documents such as accounts and/or bank statements, and provide an itemised equipment invoice or quote. Amounts are commonly £20,000 to £500,000, with terms often between 12 and 84 months for medical and clinical equipment, frequently around 36 to 60 months. Repayments are fixed monthly, and APR equivalent planning ranges in qualifying SME cases are often roughly 7.9% to 14.9% depending on credit profile and loan-to-value. Decisions are commonly 1 to 3 weeks, influenced by credit checks and how complete the financials are.