August 11, 2023

Med spa financing: How to fund your aesthetic clinic and med spa equipment

Moxie Team

For anyone making the transition from medical professional into a med spa owner, coming up with the capital is a top hurdle to overcome.

The start-up costs for your med spa, as well as your med spa financing options, can vary. 

They depend on what aesthetic services you’ll offer, the med spa equipment you choose to invest in, and whether you decide to buy or lease this med spa equipment. 

Most of the med spa owners we’ve talked to have spent between $700K and $1 million to get their business off the ground.

While we recommend keeping your overhead low before your business becomes profitable, you’ll need to invest in foundational med spa equipment. So, how do you get started without breaking the bank?

In this article we’ll explore the various options for med spa financing, including the process of applying for a med spa loan, and consider whether or not it’s better to buy or lease med spa equipment.

Med spa loan: Should I lease or buy medical equipment?

It’s important to invest in good quality equipment that will go the distance. After all, delivering quality results requires the proper set-up. You don’t want to be bogged down with repairs or a set-up that you (and your clients) are not comfortable with.

For example, a good quality spa treatment chair can easily cost upwards of $2000, but is worth every penny to provide a comfortable and luxurious experience to clients. 

In the med spa business, attention to detail and a polished brand can be make or break. Always stay on budget, but invest in good quality, client-facing equipment and materials that contribute to the overall experience. 

Read our three-part series, Opening a Med Spa: from $0 to $100k, jam-packed with tips on how to create a med spa marketing brand that delivers!

Benefits of buying med spa equipment

One of the most important investments you’ll make is in your med spa equipment. 

Buying your own med spa equipment could be a smart investment because of a strong resale market. This is especially true if you manage to secure funding for it.

The amount you’ll spend outfitting your med spa with the necessary furniture, equipment, and supplies will depend on the size of your office as well as the types of services you plan on offering. On average, you can expect your equipment to cost $30 per square foot, and potentially higher if you plan on offering luxury services.

Your best bet to save money is to do your research and compare pricing between providers. With this knowledge under your belt, you’ll be well-equipped to negotiate with different companies to make sure you’re getting the best price. 

Average cost of new med spa equipment: 

  • Electric facial and massage beds: $2,000-3,000
  • Laser/IPL System: $50,000 - $75,000
  • Ultrasonic facial machines: $3,000 - $6,000
  • Body sculpting machines: $2,000 - $11,000

Buying second-hand equipment can save you up to 50% of the retail price. Check out community groups on Facebook for buying and selling equipment. Dotmed is another great way to find used equipment that’s in great condition at a reduced price.

If you’re just starting out, lightly used equipment may make the most sense. This keeps your investment lower, while offering you the opportunity of resale on the back-end when you decide to upgrade.

Benefits of leasing med spa equipment

When you’re opening a med spa, your priority will be to stay on budget before retaining steady cash flow. Leasing med spa equipment keeps overhead down with smaller payments, and may be friendlier to your bottom line—initially.

It also offers the opportunity to trial different equipment brands and not feel too invested into costly machinery that may not work for you. On the flipside, leasing can come at a monthly premium, and unless it’s a lease-to-own, you won’t ever own the machines outright. No resale here, folks! 

Some providers offer the option to rent, finance, or buy. If you choose the option to finance theoretically you could pay off the device over time, using revenue derived from the device to eventually pay it off and own it. 

Med spa equipment rental providers:

Need a med spa loan? Here’s how to get one.

The process of applying for a med spa loan will look different according to your unique circumstances and qualifications.

The entire loan application process takes between 45 and 60 days on average.

Average med spa loan timeline:

  • Med spa loans involving real estate: 60 
  • Start-up loans without real estate: 45 days
  • Med spa equipment-only loans: 3-21 days depending on the documents needed

Finimpact’s top picks for med spa financing

While the above are great lenders to research into, many med spa owners recommend starting with your bank or credit union to see what med spa financing options are available to you. 

A financial institution that you’ve already got a history with and trust should take the time to walk you through your options for a competitive rate and any loan bundles from previous lending. 

Before contracting into any financing, make sure you fully understand the terms, interest rate, and payback conditions. For example, will you be penalized for paying down your loan early? Is there a grace period to skip a month’s payment? Can loan debt be consolidated to save on interest?

Med spa financing options for women

Despite a majority of female entrepreneurs in the med spa industry, women are still less likely to be approved for funding compared to their male counterparts.

To combat this, some financial institutions offer small business loans designed specifically for female entrepreneurs:

Small Business Administration (SBA) loans

  • Borrow up to $5 million
  • Repayment within five to ten years, if financing real estate up to 25 years
  • In order to qualify, you’ll need a minimum credit score of 620, and no history of bankruptcy or foreclosures

Bank and credit union small business loans

  • Can help you secure a lower interest rate
  • The funding available to you depends largely on the specific institution
  • May be difficult to obtain without a strong credit history

Business loans from online lenders

  • The fastest option for securing a med spa loan
  • Your med spa loan application can be approved in as little as 24-48 hours
  • Interest rates may be slightly higher


  • For female entrepreneurs who are just starting out
  • Smaller loans under $50K

Still not sure if you qualify? This tool can help you determine if you meet the requirements for a small business loan.

Med spa financing grant options

Loans aren’t the only way to go to secure med spa financing. The following are some popular grants designed specifically for female-run businesses:

TL;DR; Save time and money with a partner like Moxie

Financial planning and understanding med spa loans and med spa financing is a stressful but necessary major step for success.

Transitioning from cosmetic nurse jobs, where you’re working under someone else, to running your own med spa is a big deal. What you’re trying to accomplish isn’t for the faint of heart, so take your time to weigh options and ask questions.

Your current financial situation will dictate what financing you may be eligible for, and will help you to decide whether to lease or buy med spa equipment.

Working with an experienced partner is one of the surest ways to save time and money. While most first-time entrepreneurs learn through trial and error, working with a partner like Moxie can take some of the guesswork out of the process of launching your business, enabling you to hit the ground running.

Learn more about how Moxie helps entrepreneurs like you open profitable med spa businesses!

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