Sub-Saharan Africa
Medical Imaging Equipment Financing Programs
With decades of experience in cross-border financing, Cassona is pleased to offer Medical Equipment Financing Programs to healthcare facilities in sub-Saharan Africa to purchase U.S. refurbished medical imaging equipment. With a combination of a 35% minimum deposit on the equipment and buyers with U.S. Exim-approved creditworthiness, Cassona has found a way to make purchasing capital-intensive medical imaging equipment an affordable and accessible investment for healthcare facilities in sub-Saharan Africa.
Currently, Cassona offers the following equipment financing programs:
12-month Credit Sale Equipment Financing Program
24-month Lease-to-Own Equipment Financing Program
By extending the payment options for up to two years, Cassona’s equipment financing programs can help every eligible healthcare facility in sub-Saharan Africa minimize the initial cash investment and frees up the capital resources to invest in other areas of practice.
12-Month Equipment Financing Program (“Credit Sale”)
Cassona offers a 12-Month financing program for sub-Saharan African buyers to purchase refurbished medical imaging equipment based on (1) the U.S. Exim Bank approved creditworthiness of the buyers and (2) the buyer’s ability to pay a deposit of no less than 35% of the cost on the equipment to secure the eligibility to access such credit facility.
Example: Customer A is a Diagnostic Imaging Center in Accra, Ghana. This diagnostic imaging center wants to purchase a refurbished 32 Slice CT Scanner. The price of the refurbished CT scanner is $300,000. Customer A chooses to use the 12-Month Equipment Financing Program to purchase the CT scanner.
First Step:
The Diagnostic Imaging Center put down $105,000 as a deposit, which is 35% of the purchase price. Cassona agrees to finance the remaining 65% of the purchase price ($195,000) for 12 months at an annual interest rate of 11%.
Second Step:
Along with submitting (1) a Purchase Agreement and (2) Purchase Order, Cassona applies for U.S. Export Credit Insurance.
Third Step:
Cassona delivers the CT scanner from the U.S. to the Diagnostic Imaging Center in Accra within 45 days from the date of the purchase. Cassona’s local engineering team in Ghana will provide free installation, 24/7 phone consultation, and professional on-site personnel training to ensure the CT scanner works in perfect condition.
Fourth Step:
The Diagnostic Imaging Center will start paying its monthly payment to Cassona 45 days from the installation completion date. There will be 12 monthly payments until the total equipment loan amount is paid. Each month’s payment is $18,037.5. During the 12 months of repayment period, Cassona provides a free labor-and-part warranty to ensure the CT Scanner continue to work smoothly.
24-Month Lease-to-Own Financing Program
The Lease-to-Own program allows doctors to “pool” their resources together and create a “Time-Share” program to use the equipment for their patients. The advantage of the Lease Program is that sharing the deposit among doctors makes the 35% of equipment cost much more affordable. Since it is lease-to-own, the buyer does not own the equipment till the loan is paid off.
Due to Cassona’s vested interest in every piece of equipment we “lease” through the program, we provide technical support and maintenance, thus ensuring that the equipment stays in service.
The “Lease to Own” program allows Cassona to finance the purchase of any imaging equipment for 24 months. The program is more extended than ANY western bank would provide to sub-Saharan African buyers in terms of medical equipment financing.
Example: Four doctors decide to establish a Diagnostic Imaging Center together in Accra, Ghana. They decided to purchase a refurbished 32 Slice CT Scanner. The price of the refurbished CT scanner is $300,000. The group chooses to use the 24-Month equipment financing program to purchase the CT scanner, and they agree to contribute to the cost equally.
First Step:
The Diagnostic Imaging Center put down $105,000 as a deposit to secure the equipment. Each doctor will contribute $26,250 toward the deposit. Cassona agrees to finance the remaining 65% of the purchase price ($195,000) for 24 months at an annual interest rate of 11%.
Second Step:
Along with submitting (1) a Purchase Agreement and (2) Purchase Order, Cassona applies for the U.S. Exim Bank Export Credit Insurance to cover the purchase of the CT scanner.
Third Step:
Cassona delivers the CT scanner at the Diagnostic Imaging Center within 45 days from the date of the purchase. Cassona’s local engineering team will provide free installation, 24/7 phone consultation, and professional on-site personnel training to ensure the CT scanner work in perfect condition.
Fourth Step:
The Diagnostic Imaging Center will pay its first monthly payment to Cassona 45 days from the installation completion date. There will be 24 monthly payments until the total equipment loan amount is paid. Each month’s repayment is $9,912.5, which means each doctor will contribute $2,478 monthly. During the repaying period of 24 months, Cassona provides a free labor-and-part warranty for the equipment to ensure the CT Scanner works smoothly.