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Industries · MedicalMedical imaging and radiology equipment financing.
Imaging equipment is some of the most expensive capital a practice ever buys. We arrange financing for new and refurbished systems alike, with structures sized to the revenue the equipment produces.
Credit, time in business and liquidity requirements are listed in one place: qualification guidelines. Buying before year end? Section 179 calculator.
Imaging equipment we fund.
MRI, CT scanner and X-ray machine financing.
Diagnostic imaging equipment financing works a little differently for each machine. The price decides how much paperwork you'll need, because application-only decisions go up to $500,000 on qualifying files. How long you'll keep the system decides whether you should own it or lease it. Here's what's typical.
MRI machine financing
An MRI is usually the biggest equipment purchase a practice makes, and the room work (shielding, power and cooling) can add a lot to the bill. Most MRI purchases run past $500,000, so plan on full underwriting: two years of tax returns, interim financials, bank statements, a debt schedule and a personal financial statement for each guarantor. A magnet stays in service for years, so most owners finance it and keep it, often on an equipment finance agreement as long as 84 months. Shielding, site prep, installation and the service contract can go on the same agreement on qualifying transactions.
Buying refurbished? It's financed the same way, with the term matched to the system's remaining service life and warranty, and a system that comes in under $500,000 can stay application-only on a qualifying file. Our refurbished MRI and CT guide covers what to ask the seller about certification and warranty.
CT scanner financing
CT technology changes faster than MRI. If you expect to upgrade in a few years, a fair market value lease keeps the payment lower over 24 to 60 months and gives you an upgrade path at the end. If you'll keep the scanner, an equipment finance agreement or a $1 buyout lease means you own it, and it can qualify for Section 179 the same as a cash purchase. New CT usually goes to full underwriting. A refurbished CT that comes in under $500,000 can stay application-only on a qualifying file. We compare both routes in leasing versus buying imaging equipment.
X-ray machine financing
X-ray is usually the simplest of the three. A new DR room or a DR retrofit for an older room typically comes in under $500,000, so on a qualifying file you need the application and the equipment quote, with no tax returns or financial statements. X-ray rooms last, so most owners finance and own them. Ultrasound and 2D mammography usually go the same way.
Want prices first? The imaging equipment cost guide lists price ranges for MRI, CT, X-ray and ultrasound, plus the room costs, and imaging equipment loan rates shows how credit changes your rate.
Choosing an imaging or radiology financing company.
Banks, equipment makers' finance arms, SBA lenders and specialty equipment lenders all finance imaging, and the deals look different. A bank usually wants a full financial package and can take weeks. A manufacturer's finance arm only covers its own equipment and often folds the service contract into the same negotiation. Our imaging lender comparison lays out all four.
Before you pick a radiology or imaging financing service, ask a few things. Will they finance used and refurbished systems? Can site prep, shielding, installation and the service contract go on the same agreement? How high does application-only go? And can they answer before your install date slips?
Five West is a nationwide equipment financing company based in Tempe, Arizona. We finance equipment for imaging centers, radiology groups and physician practices. One application is compared across our funding programs, and a dedicated funding professional manages the deal from application to funding.
Sell imaging equipment? Dealers can offer imaging financing to their own buyers through our partner programs, so a clinic sees a monthly payment next to the price. Our guide to imaging equipment dealer financing shows how to set one up.
Imaging financing, explained.
More guides on the Five West blog. New here? See how the Quote Builder works.
Imaging equipment financing, answered.
What imaging equipment can be financed?
MRI systems, CT scanners, ultrasound, digital X-ray and DR retrofits, C-arms and fluoroscopy, CBCT, mammography, and PACS and imaging IT, new and refurbished, from a $15,000 usual minimum well into seven figures. Site preparation, shielding, installation, and service contracts can be included on qualifying transactions.
Can I finance a refurbished MRI or CT?
Yes. Refurbished systems from the OEM or an established refurbisher are financed regularly, typically at a meaningful discount to new, with the term matched to the remaining service life and the warranty. Our guide to refurbished MRI and CT financing covers what lenders check.
Do I need full financials for an imaging purchase?
Under $500,000, usually not: the application and the equipment quote cover most ultrasound, X-ray rooms, and 2D mammography purchases. CT, MRI, and PET/CT transactions generally exceed that threshold and move into full underwriting with two years of tax returns, interim financials, bank statements, a debt schedule, and a personal financial statement for each guarantor. See the imaging loan requirements guide.
What credit score and time in business do I need?
Many established-business programs start around 600 FICO, and two or more years in business opens the broadest set of programs and the best pricing. Between one and two years narrows the field but stays workable; under one year the file is underwritten as a startup, which typically means 700+ personal credit, relevant industry experience, and working capital left after the purchase.
The score alone rarely decides it: cash flow, the equipment, and money down all move the answer. Full detail is in the qualification guidelines and the credit score guide.
How long can I finance imaging equipment, and should I lease or buy?
Equipment finance agreements run 24 to 84 months and leases 24 to 60 months, with $1, 10%, or fair market value buyouts. The term cannot outrun the equipment's remaining useful life, so used equipment is often written on a shorter term than new.
Imaging technology turns over faster than it wears out, which is why a fair market value lease with an upgrade path fits many scanners; long-lived rooms and retrofits are usually financed and owned. Our lease vs. buy for imaging equipment guide covers the trade-off. The lease vs. loan guide runs one machine through every structure with real numbers.
How fast can I get approved, and what documents do I need?
Most applications get a first response within 1 to 2 business hours, with same-day options on qualified files and approvals in as little as 30 minutes on clean application-only files. Funding follows in as little as 24 to 48 hours once documents are signed.
Application-only decisions, with no tax returns or financial statements, are available up to $500,000 on qualifying files; above that, expect a full financial package. The application starts with a soft credit inquiry, which does not affect your score.
Does Section 179 apply to imaging equipment?
Usually, yes. For 2026 the Section 179 limit is $2,560,000 of qualifying equipment, phasing out above $4,090,000 of purchases, and bonus depreciation is 100%. New and used equipment both qualify, and financing does not change the deduction: equipment bought on an equipment finance agreement or a $1 buyout lease with nothing down is deducted the same as a cash purchase, as long as it is placed in service by December 31.
On a fair market value lease the funder owns the equipment, so you deduct the payments as rent instead. Run the estimate in the Section 179 calculator and confirm the treatment with your tax advisor.
How much is the monthly payment on an MRI machine or CT scanner?
It depends on the price, the term and your credit. As examples at an assumed 6.75% with nothing down, a $250,000 refurbished CT is about $4,921 a month over 60 months or $3,743 over 84 months, and a $600,000 refurbished 1.5T MRI is about $8,982 a month over 84 months. Those are example prices, not market quotes. On a scanner you plan to replace, a fair market value lease usually lowers the payment. The Quote Builder shows an estimate on your own numbers with no credit pull.
What does an imaging or radiology financing company do?
It pays for the imaging equipment up front, and your practice pays it back monthly over a set term. Five West arranges equipment finance agreements from 24 to 84 months and leases from 24 to 60 months for MRI, CT, X-ray, ultrasound, mammography and other imaging systems, new and refurbished, from about $15,000 into the $5 million+ range. It's open to imaging centers, radiology groups and physician practices nationwide. One application is compared across our funding programs, and it starts with a soft credit inquiry.
Can an imaging or radiology equipment dealer offer financing to its customers?
Yes. Dealers that sell X-ray, ultrasound, CT, MRI and other imaging systems can offer financing through a Five West partner program, so the clinic sees a monthly payment next to the price. Most submissions get a first response within 1 to 2 business hours, application-only decisions go up to $500,000 on qualifying files, and site preparation, shielding, installation and service contracts can go on the same agreement on qualifying transactions.
How do I get started?
Run the numbers first in the Quote Builder: set the equipment cost, term, down payment, and structure and see an estimated payment in a few taps, with no credit pull. When it fits, one short application and a soft credit inquiry get you matched with a dedicated funding professional who manages the deal from application to funding.
Run the numbers, then apply.
Build your own payment, term and structure in the Quote Builder in a few taps. No credit pull, no obligation. When the numbers work, one application matches you with a dedicated funding professional who manages your deal from application to funding.