Veterinary Practice Finance

What is Veterinary Practice Finance?

Veterinary practice finance helps you set up a new vet clinic, purchase the necessary equipment, and grow a financially sustainable business. It is a broad term that incorporates ‘traditional’ bank lending alongside other flexible options.

Importantly, financing a veterinary practice using specialist financing controls your capital outlay as you repay the borrowing under fixed terms that makes budgeting and cash flow more manageable.

If your practice is already established, you can also harness the value of your existing assets to release funds for further expansion.

Options for funding your veterinary practice

Equipment leasing: You can lease equipment on a fixed monthly repayment basis and then upgrade at the end of the lease if necessary to access the newest technology, provide ongoing high-quality veterinary services to your community. Another benefit is that the VAT is paid monthly rather than upfront on the total amount.

Hire purchase: Hire purchase are an effective option if you want to have ownership over the asset. You put down an initial deposit, which influences how much you repay monthly, and following a final ‘completion payment’ your business gains full ownership of the asset.

Refinancing existing assets: Refinancing assets enables you to release their value whilst retaining rights of usage. You effectively sell the asset to a specialist lender and make fixed repayments over a pre-determined period. Once the contract has finished your business becomes the owner of the asset once again.

Business acquisition finance: Business acquisition finance provides the money you need to purchase an existing veterinary business, whether it is your first vet practice or you are expanding through a merger. Specialist business acquisition funding protects your balance sheet capital with debt or equity financing options, with both offering tailored solutions.

How does veterinary practice finance work?

Veterinary practice finance is a suitable option when looking to acquire high value assets without the need of using a large amount of capital from the outset. With financing you will not own the asset initially, however, the asset can be used for your business’ needs. By financing veterinary practice equipment, you can alter the term length and the deposit to suit your business’ financial situation.

Is veterinary practice funding right for your business?

Veterinary practice finance solutions help you provide your professional services without affecting your business’s financial position. The adaptability of these financial solutions to the unique needs of your sector also eases and potential challenges your business may face when trying to grow.

It is crucial, therefore, to fund a practice in the most financially efficient manner to achieve and maintain the high standards of care expected.

Applying for veterinary practice finance

MAF Finance Group work with a large selection of banks and lenders to provide you with the financial solution that works best for your business.

If you would like to get a quote or need further information, simply fill out the below form and we will be in touch. If you would like to speak directly to us, you can call at 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at [email protected].