FINANCE OPTIONS

^Get Equipment Finance for Occupational Therapy Practices Today

Q: How much equipment finance can an occupational therapy practice borrow

Typical equipment finance borrowing amounts range from £5,000 up to £500,000. The final figure depends on the equipment price and its resale or secured value approach, your trading performance and cashflow, loan-to-value, and whether a deposit or personal guarantee is required. The chosen structure also affects the amount available.

Q: How long does a decision usually take

For straightforward new equipment finance, an initial decision is typically 1 to 7 working days once the lender has the requested documents and equipment details. For refinancing existing equipment finance, decisions are commonly 5 to 15 working days because settlement figures and the current equipment valuation and condition are reviewed.

Q: What APR ranges should I expect for equipment finance

Pricing depends on credit profile, term length, deposit or loan-to-value approach, equipment type and value, and whether it is new finance or refinancing. Research indicates typical secured SME ranges often fall around 7% to 22% APR overall, while standard secured equipment plans can commonly sit around 8% to 20% APR.

Q: Which equipment finance type is suitable for my practice

It depends on your plan. Hire purchase equipment agreements often suit identifiable equipment purchases for trading limited companies or sole traders and usually run for 12 to 60 months. Secured equipment loans are built around security interest and commonly use 24 to 72 month terms. Refinancing existing equipment finance works when you already have current equipment finance and want a revised repayment structure.

Equipment finance for occupational therapy practices helps you buy, replace, or upgrade the equipment you need to deliver care, using the asset as the basis for funding. It is commonly structured as an asset-backed agreement such as hire purchase or conditional sale, or as a secured loan where the equipment acts as collateral. Practices use it to spread costs over fixed repayments while protecting day-to-day cash for staffing, premises and ongoing running costs. Because the funding is linked to specific clinical equipment, it can be easier to assess than purely unsecured borrowing for the same amount.

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^Benefits of equipment finance for your clinic

For occupational therapy businesses, equipment finance is built around tangible clinical assets and repayment capacity. It is often available for purchases in the range of £5,000 to £250,000, with many SMEs arranging terms of 12 to 60 months. Decision timelines for new equipment are commonly 1 to 7 working days, and pricing often reflects credit, term length and equipment value, with typical secured APR ranges of around 8% to 20% for standard plans.

Preserve working capital

Fund specific equipment upgrades

Maintain service capacity

SCALE YOUR BUSINESS TO NEW HEIGHTS

Common types for occupational therapy equipment

Hire purchase equipment agreements

Typically used to fund clearly identifiable therapy equipment over an agreed term.

Hire purchase equipment agreements

Hire purchase equipment agreements suit UK-registered limited companies or sole traders that are trading or have a clear start plan. Lenders typically want accounts (or bank statements for newer businesses), ID checks and evidence of affordability. The equipment must be identifiable and specifically intended for occupational therapy use, supported by a clear quotation or specification. Amounts are commonly £10,000 to £100,000 for SME practices, with terms usually 12 to 60 months. Typical interest rates are often presented as fixed APR, commonly in the region of 8% to 20% depending on your credit profile and the deal structure.

Secured equipment loans

Better aligned when you want a loan secured against the purchased equipment.

Secured equipment loans

Secured equipment loans are available to limited companies or sole traders that can demonstrate repayment capacity through trading results and bank statements. The lender takes security interest over the equipment or equivalent security, and a personal guarantee may be requested depending on the structure and value. This type can support larger purchases, often around £15,000 to £200,000 for SMEs, with terms commonly 24 to 72 months. Pricing can be fixed or variable by provider, with typical secured SME ranges often around 7% to 19% APR. Decisions are often 3 to 10 working days after submission when documents and equipment pricing are clear.

Refinancing existing equipment finance

Used to roll up and restructure current equipment repayments.

Refinancing existing equipment finance

Refinancing existing equipment finance applies when you already have current equipment finance in place, such as hire purchase or a secured agreement. The lender reviews remaining balances, the current value and condition of the equipment, and affordability for the revised repayment plan. Typical refinanced amounts are usually £5,000 to £300,000, with terms commonly 12 to 60 months depending on affordability and the equipment’s remaining economic life. Rates may be higher or lower than the original deal depending on your circumstances, with typical secured SME ranges often around 8% to 22% APR. Decisions commonly take 5 to 15 working days because settlement figures and current valuation must be checked.

Typical Funding Journeys on Funding Agent

Submit your funding request

Our platform enriches your application using business data

Your request is matched to suitable lenders

Receive offers and proceed with the best option

How to get equipment finance through Funding Agent

Tell us your equipment plan

Share what you want to buy or refinance, along with supplier quotation or invoice details and your business basics. Include your trading status, expected start of repayments and any deposit requirement so we can align the finance type to your situation.

Complete the online application form so we can review your details.

We match you to lenders

Funding Agent checks which equipment finance types fit best and helps prepare lender-ready information. This includes confirming the equipment details so lenders can review suitability and equipment value, alongside affordability evidence from your financial documents.

Apply and receive decision

Submit the lender application through the matched provider(s). If approved, the facility is used to complete the equipment purchase or settle the existing agreement, as agreed. Funding timelines often depend on supplier payment steps and the completeness of documentation.