Veterinarian Loans

Veterinary practices face significant financial pressures, but with the right approach, these challenges can be mitigated. Recent research has shown that:

• Over 20% of veterinary practices struggle to hire and retain staff due to rising wage demands.
• 75% of veterinary clinics are planning to invest in new technology to reduce overhead and improve patient care.

One effective strategy is to prioritize operational efficiency, investing in technology that streamlines administrative tasks while optimizing care, which may reduce administrative staff. Additionally, focusing on preventive care packages can encourage pet owners to stay engaged with regular visits, reducing costly emergency treatments.

One major way to relieve the financial burden of these upgrades is through smart financing options, such as an SBA 7a or 504 loan. These loans can be used to purchase essential equipment, refinance debt, or expand your clinic to meet demand. The SBA 7a loan offers flexible uses, including working capital for improvements, while the 504 loan focuses on long-term assets like real estate or large equipment.

First Bank of the Lake has provided over $1.1 billion in small business loans, proving our expertise in supporting practices like yours. Our team knows the ins and outs of veterinary clinic financing and can tailor loan solutions to help you manage rising costs, hire skilled staff, and keep your clinic on track for long-term success. Let’s keep your clinic thriving, without the stress of skyrocketing expenses.