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Five West imaging equipment financing rates
Imaging equipment financing prices well for two reasons: the collateral is identifiable and holds value, and the transaction sizes are large enough that fixed origination costs spread thin. A $750,000 scanner generally prices better than a $75,000 one on the same credit.
Subject to credit approval and underwriting. Rate depends on the complete business and credit profile.
The structural advantages matter as much as the rate: application-only up to $500,000 with no tax returns or financial statements, which covers every ultrasound, X-ray room, and mammography purchase, most CT, and a good share of refurbished MRI; a credit floor of 600+ for an established center and typically 700+ for a de novo; and refurbished and private-party systems, which is where most banks stop entirely.
How the wider market prices imaging equipment
- 760+ FICO (excellent): from 7.0% APR. Approval rates around 95%. Nothing prices below prime except a manufacturer promotion on one new unit.
- 700–759 FICO (good): from 9.0% APR. Approval rates around 85%. Where most established centers sit.
- 650–699 FICO (fair): quoted to the file. Approval rates around 65%. Banks get difficult; specialty programs are the practical route. Expect a larger down payment.
- Below 650 (challenged): quoted to the file. Achievable with meaningful money down, strong collateral, or a co-guarantor, but the payment math needs scrutiny against a scanner’s revenue ramp.
Published market ranges as of August 2026, illustrative rather than quotes. Most imaging programs set a 650 floor with premium terms at 720+.
Rates by lender type and structure
How to read a lease payment factor
Operating leases are quoted as a monthly payment factor rather than a rate. A factor of 0.018 to 0.028 means you multiply the equipment cost by that number to get the monthly payment: a $750,000 system at 0.022 is $16,500 a month. That is not an interest rate, and converting it to one is not straightforward, because part of the payment covers the lessor’s residual assumption. The comparison that works is total cost of the contract: all payments, any buyout, and any end-of-term return or de-installation obligation, measured against the total cost of a loan over the same period.
Why you are still seeing 5% and 6% online
Because a lot of what ranks was written in a different rate environment and never updated. Content published in 2020 and 2021 quoted rates that were accurate when the federal funds rate sat near zero and prime was 3.25%. Prime is 7.00% as of September 2026, and a commercial funder cannot lend below its own cost of money and stay in business. Check the publication date before you anchor on a 5% or 6% rate. If the page really is current, ask what is attached: a manufacturer promotion on one new unit, a captive subsidy paired with a service contract, or a lease payment factor that is not the whole cost of the contract.
Our own A-credit programs start at 7%. That is not us pricing above the market. That is the market.
Prime is the practical floor
The Wall Street Journal prime rate is 7.00% as of September 2026, after a quarter-point increase on September 17, 2026, on a federal funds target range of 3.75% to 4.00%. Where prime shows up directly in a quote: SBA 7(a) is capped at prime + 3% variable over $250,000 (10.00% today), prime + 6% from $50,000 to $250,000 (13.00%), and prime + 6.5% at $50,000 or less (13.50%). Lines of credit commonly price at prime + 1% to 3%, roughly 7.75% to 10.00% for a strong center. Fixed-rate equipment loans are not indexed to prime, but they are priced off cost of funds, which moves with the same underlying rates, with a lag.
Seven factors that move your rate
- Personal credit. The largest single driver. The gap between a 760 file and a 690 file is commonly 5 to 8 points.
- Transaction size. Fixed origination costs spread over $750,000 price better than over $75,000.
- Time in business. Two years is the conventional threshold; de novo centers price higher.
- New vs. refurbished. Refurbished typically adds 1 to 3 points, and private-party more than dealer.
- Collateral quality. A current-generation wide-bore magnet with OEM platform support prices better than a sunset platform, because resale can be modeled.
- Term length. Longer terms carry more risk and usually a slightly higher rate, while lowering the payment.
- Down payment. 100% financing exists for strong files; 10% to 20% down measurably reduces cost.
What a point of rate costs on a scanner
A $750,000 system over 60 months:
One percentage point on $750,000 over five years is about $361 a month, or roughly $21,688 across the term.
That is worth real negotiation. It is also still smaller than one year of an OEM MRI service contract, which is the number most centers under-shop.
Term length changes the payment more than rate does
On large tickets, structure moves cash flow further than pricing. The same $750,000 at 7% is $14,851 a month and $891,054 total over 60 months, or $11,320 a month and $950,880 total over 84. The longer term costs about $59,800 more in interest and frees $3,531 a month during the ramp. Match the term to how long you will actually keep the system, not to the lowest possible payment.
Why the lowest rate is not always the cheapest deal
- A bundled service contract. The most important one in imaging. OEM MRI service runs $42,000 to $134,000 a year depending on manufacturer, roughly 8% to 12% of purchase price annually across modalities. A subsidized captive rate paired with top-of-band service can cost more over seven years than a higher rate with competitively bid service.
- Prepayment penalties. A 7% loan with three years of lockout costs more than an 8.5% loan you can retire when you refinance or sell.
- Blanket liens. A general lien on all center assets constrains the next transaction.
- End-of-term obligations on a lease. Return condition, de-installation, and rigging at term end never appear in a payment factor.
Getting to the lower end of the range
Protect your personal FICO in the months before applying. Submit a complete, itemized file that separates equipment from soft costs. Put 10% to 20% down. Bundle purchases: one $900,000 transaction generally prices better than three separate $300,000 ones. Get the captive quote and a quote from another imaging equipment lender, and ask the captive for its rate without the service contract attached. Two or three quotes, not six.
Five West programs at a glance
On a seven-figure scanner a point is $21,688, and structure moves the number further still. We put your file across our programs in one pass (loans, capital leases, FMV leases, and SBA) and compare them on total cost of contract rather than rate or payment factor.
- Rates
- 7% to 9% A credit · B and C quoted to the file
- Terms
- 24 to 84 months, with 10 years on SBA loans
- Amounts
- $15,000 to $5 million+
- Application only
- Up to $500,000 — no tax returns or financial statements
- Credit
- Established businesses from 600+, startups from 700+
- Equipment
- New, used, refurbished, dealer, and private-party purchases
- Speed
- Same-day options on qualified files — approvals in as little as 30 minutes
- Coverage
- Nationwide and U.S. territories
Send us the quote, with the service contract priced separately, and we will come back with a real number.
Free consultation, no obligation. All financing is subject to credit approval and underwriting; rates and terms depend on the complete business and credit profile.
The bottom line
Expect pricing to start around 7% with excellent credit and to widen as the credit profile weakens, against a 7.00% prime rate. Negotiate the rate, because a point is $21,688 on a $750,000 scanner. But negotiate the service contract harder, compare structures on total cost of contract rather than rate or payment factor, and set the term against how long you intend to keep the system. Five West prices A credit at 7% to 9%, on terms of 24 to 84 months, with 10 years on SBA loans; other profiles are priced to the full file, and the Quote Builder shows your range in a few taps. Send the quote and we will tell you which tier your file lands in.
Imaging equipment rate questions
Why do some sites say equipment financing starts at 5%?
Because much of that content was written in a different rate environment and never updated. In 2020 and 2021 the federal funds rate was near zero and prime was 3.25%, so a 5% equipment loan was real. Prime is 7.00% as of September 2026, and no commercial funder lends below its own cost of money. Check the publication date on any page quoting 5% or 6%, and if it is current, ask what is attached: a manufacturer promotion on one unit, a captive subsidy paired with a service contract, or a lease payment factor that is not the full cost of the contract.
What is the average interest rate for imaging equipment loans in 2026?
As of August 2026, imaging equipment loans generally price from roughly 7% APR over 36 to 84 months, with the upper end set by the credit profile. Centers with 760+ personal FICO see the lowest pricing; 700 to 759 typically starts around 9%; 650 to 699 and below 650 are quoted to the file. The Wall Street Journal prime rate is 7.00%.
What credit score do you need to finance an MRI or CT?
Most imaging equipment programs set a floor around 650, with premium terms reserved for 720 and above. They also typically expect two or more years in business and annual revenue of roughly three to five times the annual loan payment. De novo programs exist but price higher and require a business plan with volume projections.
How much does one percentage point cost on a $750,000 scanner?
About $361 per month, or roughly $21,688 across a 60-month term. At 7% the payment is $14,851 monthly with $141,054 total interest; at 8% it is $15,207 with $162,438. Worth negotiating, though still less than a single year of an OEM MRI service contract, which runs $42,000 to $134,000 depending on manufacturer.
What is a lease payment factor and how do I compare it to a loan?
An operating lease is quoted as a monthly payment factor, commonly 0.018 to 0.028, that you multiply by equipment cost to get the payment. A $750,000 system at 0.022 is $16,500 monthly. It is not an interest rate and does not convert cleanly to one, because part of the payment covers the lessor’s residual assumption. Compare total cost of contract instead: all payments plus buyout plus any end-of-term return obligation.
Should I finance a scanner over 60 or 84 months?
On a $750,000 system at 7%, 60 months costs $14,851 monthly and $891,054 total; 84 months costs $11,320 monthly and $950,880 total. The longer term costs about $59,800 more in interest and frees $3,531 a month during the volume ramp. Match the term to how long you will keep the system rather than to the lowest achievable payment.
Are imaging equipment rates lower than general business loan rates?
Generally yes. Equipment financing is secured by identifiable, recoverable collateral, which prices better than unsecured credit, and imaging benefits from large transaction sizes since fixed origination costs spread over a bigger balance. A $750,000 transaction typically prices better than a $75,000 one on the same credit profile.
What are SBA rates for imaging equipment in 2026?
SBA 7(a) maximum rates as of September 2026, against a 7.00% prime rate: loans over $250,000 are capped at prime + 3% variable, or 10.00%; loans from $50,000 to $250,000 at prime + 6%, or 13.00%; loans of $50,000 or less at prime + 6.5%, or 13.50%. Terms run to 10 years for equipment and 25 for real estate.
Does refurbished equipment carry a higher rate?
Typically 1 to 3 percentage points above what the same borrower would pay on a new system, with private-party purchases priced above dealer purchases. Advance rates are also lower, 80% to 90% of appraised value rather than up to 100% of invoice, and terms are capped by remaining useful life, often five years rather than seven.
Want to know where you actually price?
Published ranges only go so far on a seven-figure ticket. Send us the quote and we will run it across our programs in one pass. Or run the numbers yourself first in the Quote Builder. No credit pull, no obligation.
Related imaging center financing guides
More on financing equipment for a diagnostic imaging center.
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This article is general information about commercial equipment financing and is not a commitment to finance. All financing is subject to credit approval and underwriting. Rates, terms, and approval depend on the complete business and credit profile. Figures shown are illustrative market ranges gathered from published sources as of August 2026 and are not an offer. Five West Financial is not a tax advisor or an accounting firm; confirm any tax treatment with your CPA before relying on it.