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Equipment Finance & Leasing with a sense of urgency!

You have other important priorities on your mind, so we make healthcare equipment financing quick and easy for you. Stearns Bank Equipment Finance Division offers a full line of financial services for healthcare professionals nationwide. Terms are structured to meet your capital and cash flow requirements. We evaluate the situation and provide you with the best fit for your financing needs.

Benefits of Stearns Bank

Convenience & Experience: Stearns Bank is knowledgeable in the healthcare industry and equipment, so we make for a seamless approach to financing. We’ve been financing equipment for over 35 years.

Easy Application Process: Limited credit application with decisions made within an hour.

Simple & Flexible Terms: We offer terms from 24-60 months, with as little as no money down. You can choose to delay your first payment up to 90 days. Our financing is made simple, no confusing terms or complicated contracts.

Sense of Urgency in our Work: Stearns Bank prides itself as an employee owned organization, focusing on efficiency and sense of urgency. With personal contact throughout the entire process, you will enjoy the style of service Stearns Bank delivers.

Cash vs. Finance

As a business owner, it makes more sense to finance your equipment purchase rather than pay cash. Whether you are adding a new piece of equipment, starting a new practice or acquiring new technology, the method used to acquire the equipment can have an impact on your balance sheet. Your options should be carefully reviewed before paying cash.

Conserve your cash: Financing enables you to keep your cash on hand to improve your company’s cash flow. Paying cash reduces your cash asset and therefore has a negative impact on your balance sheet.

Cash discounts: Save your cash for other business needs. You may be able to get discounts for paying cash on your consumables, advertising, and other miscellaneous items.

Benefit from use of equipment: Pay for the equipment as it produces revenue. You can have the equipment pay for itself as you use it. Financing should be used for depreciable assets such as equipment.

Section 179: You can still take advantage of Section 179, if you finance. In addition, because a lease is not considered a long-term debt or liability, it does not appear as debt on your financial statement, thus making you more attractive to lenders when you need additional lines.

Contact Stearns Bank

Office: 800-247-1922 Fax: 320-845-4982
Michelle Fuchs: 320-260-5731 or Mandy Eiynck: 320-980-1371
500 13th Street
Albany, MN 56307

Small Business Loans: If you see yourself opening a new practice, purchasing an existing practice, or needing a loan to purchase new equipment or working capital, Stearns Bank is here to help make your vision a reality. As a preferred nationwide small business lender, we are able to provide fast and flexible financing. The Preferred Lender status allows us to approve and process your loan in-house, therefore reducing the turnaround time on your loan. Let our experienced lenders be your financial partner and assist you with your vision.

SBA 7A Loan • Loan amounts from $25,000 to $5 million • Repayment terms as long as 20 years • Start-up, acquisition, expansion, refinance, real estate purchase, contract payoff, equipment purchases, renovation, inventory, & working capital.

SBA 504 Loan • Loan amounts from $500,000 to 12.5 million • Repayment terms of 10-20 years • Acquisition, expansion, renovation, refinance, & construction purposes.

Office: 800-320-7262 / Fax: 320-258-4815
Tom Ethen or Dave Kahlhamer
4191 2nd Street South
St. Cloud, MN 56301