SBA Financing for Veterinarian Practice - Refinance, Acquisition, Construction

Veterinarians are a preferred business type for SBA lenders since many practices do very well and rarely default on their loans.

Lenders typically lump vets in with dental and medical practices as preferred borrowers.

Both the SBA 7a and the 504 programs are well suited for Veterinary practices depending on what your needs are.

SBA 7a For Vets

The 7a program might be the better choice for most practices since it can be used for most business purposes including:

• financing commercial real estate
• practice acquisition
• equipment financing
• working capital
• any other legitimate business purpose
• loans are available up to $5 million

SBA 504 For Vets

The 504 program is typically used for commercial real estate and "long life" equipment, although it can also be used for furniture, fixtures and other office and medical equipment.

The 504 program can also be used for rather large small business loans - technically accommodating requests of up to $20 million.

Both the 7a and the 504 are an especially good choice if you are looking to conserve cash - both at closing and on a monthly basis - because they allow for:

• minimal down payments of as little as 10%
• the ability to finance most closing costs
• long term amortization's of 20 to 25 years

The Green 504 for Energy Efficient Buildings or Multiple Locations

The SBA Green 504 is a program that allows you to exceed the usual SBA maximum eligibility and financing limits as long as you are "going green."

It is an excellent way to get more SBA financing if you need to finance multiple locations. Click here for more info: Green 504.

Current Market

The SBA loan process has improved dramatically over the years to the point where it is not much more taxing on a borrower than getting a conventional commercial loan...and lenders are much more willing to do SBA loans than conventional because the government guarantee alleviates much of the risk.

More info on the SBA 7a Loan Program: SBA 7a

More info on SBA 504 Loans: 504 Loans

Please contact us at 1-800-414-5285 to find out how our expertise with the SBA can help your practice