Veterinary Practice Loans for Commercial Real Estate
Veterinary practice loans can provide commercial real estate financing for veterinary offices, animal clinics, and animal hospitals. Popular options include bank loans, SBA 7(a) loans, and SBA 504 loans.
Apply for a loan in minutes and get multiple quotes today → Get Quotes
Without a doubt, Americans love our pets. With around 80 million U.S. households being home to one or more non-human companions, we have the numbers to prove it. In 2017, veterinary practices and animal hospitals earned an estimated $42 billion in revenue, while employing more than 387,000 people across the entire country.
On top of that, experts suggest that the veterinary industry will continue to grow in the coming years, as the lifespan of household pets continues to improve. So, if you're looking to get financing for your veterinary practice, animal clinic, or animal hospital, Commercial Real Estate Loans is ready and waiting to help.
Veterinary Practice Loan Terms
In general, our veterinary practice loan terms include:
Loan Size: $1 million+
Loan Purpose: Loan can be used for property acquisition or refinancing, but cannot be used for business only-financing
Loan Term: 3, 5, 7 and 10-year fixed-rate terms
Amortization: 15, 20, 25 and 30-year options
Leverage: Up to 90% LTV allowance (with SBA loans)
DSCR: 1.20 minimum DSCR
Credit Score Requirement: 660 minimum
SBA Loans for Veterinary Practices
While privately-insured commercial property loans have their place, many veterinary practice and animal hospital owners have discovered that the SBA 7a and SBA 504 loan programs are also incredibly effective ways to finance their business. With SBA loans, veterinary practice and animal hospital owners can purchase commercial real estate, buy equipment and get working capital. That makes these loans significantly more versatile for business owners who need more than just property to jumpstart their business growth. While SBA loans have a lot of benefits, they do have stricter requirements than most other kinds of financing, including increased credit score requirements.
Get Your Free Veterinary Practice Property Loan Quote Today
We're ready to get you the best quotes out there. All we need? Fill in the form below. We'll be in touch right away.