Loans for Veterinarians – Are You Ready?

Becoming a veterinarian and opening your own practice is no small undertaking. Once your small business becomes established, other opportunities pop up – from expanding your office, expanding to a second building, acquiring someone else’s vet practice, refinancing, or making improvements.

Especially if you started your business, like many, by leasing an office space, and are now successful enough where owning your own real estate would make more financial sense.

How do you know if your vet practice is ready for the next step?

  • Your office has a crowded feeling. You find yourself filling up every last exam room and most days you could really use a few more.
  • You’re maxed out as far as taking in more revenue. Figure out what you’ll need to continue to grow your practice on the financial side. Are more exam rooms the only answer, or could you be more creative – eg. are many people coming in with small issues that could be handled over an online consultation?
  • Your competition is beating you out with equipment upgrades with the new generation of technology.

Are you prepared to take on these opportunities when the time is right for you? If there’s an opportunity to buy out a very successful veterinary practice in town that would be the perfect fit for you, can you take out a loan and have the business cover the interest and payments?

It’s often a good business strategy to utilize the leverage your business can take on if it will pay off. It’s important to “do the numbers” and make sure that the loan is in your best interest. The loan providers will also run these numbers themselves before they decide to do business with you.

If you have questions about the loan process or what type of loan would make the most sense for your unique business, contact us today and we’ll be happy to discuss the benefits of each.

If you’re ready to take the next step now, fill out our simple online application and see if you qualify today!

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