Vet Business Loans & Finance For Veterinary Clinics

Flexible Funding For Veterinarians Across The UK

Access between £1,000 and £500,000 in just 24 hours.

Everything You Need To Know:

The Veterinary Sector

Running A Vet Business

Veterinary Finance

Loans For Vets

Vet Business Loans

SME Loans Application Process

Vet Business Loans FAQs

Frequently Asked Questions


Running A Vet Business

The veterinary services industry has experienced a rapid boost in demand for industry

services in the last 5 years alone. Providing medial advice and treatment for pets and farm

animals across the UK, the growing popularity of pets has raised the demand for quality pet

care at competitive prices – which is great news for veterinary practice business owners!

According to IBIS World the industry is worth £3.8 billion and employs over 66,000 people

 in more than 4,000 veterinary businesses. Revenue is expected to increase at an annual

rate of 2.4%, demonstrating the huge remaining potential for growth in years to come.

The UK Veterinary Services Market Report for 2017 reveals that the UK has the biggest veterinary services

system in the whole of Europe. You might be surprised to hear that now, roughly 40% of all UK households

have pets, the most popular pets to own being dogs. Servicing the UK’s pet population are over 19,682

veterinary surgeons and 11,661 nurses.

Industry experts have reported significant changes to the industry, the most prominent being the increase of

corporate veterinary practices (owned and operated by a company). Approximately 32% of the market was

under corporate ownership by the end of 2018, and this is predicted to rise to as much as 70% in the next 5

years. This differs from the traditional private practice in which a veterinary clinic is owned and operated by

an individual veterinarian business owner. Whilst the expansion of corporisation arguably has advantages

for the sector, many business owners feel uneasy over fears of losing independence and clinical freedom.

Sadly, it is predicted that in the years to come, most pet owners will likely be taking their pets to corporately

owned practices rather than independent vets running their own small businesses.

Brexit poses as another uncertain challenge for the veterinary sector in terms of the workforce. If Europeans

are no longer able to stay in the UK, the industry will suffer serious staff shortages, particularly considering

the continued rising demand. In order to attract vets of the future, wages will need to rise which in turn will

lead to more costs for owners.

Do you have to be a vet to own a vet clinic?

In the UK you aren’t required to be a qualified veterinarian to startup or run your own clinic. Obviously you

will need to employ veterinarians to work in the practice. According to Vet Dynamics (the leading provider of

veterinary business support in the UK), veterinary startup entrepreneurs are driven by 3 motivations:

  • A sense of purpose
  • Mastery
  • Autonomy

“In business, this translates into two main goals: to build a business they can be proud of, namely a practice

that provides quality medicine and excellent service, and to make sufficient money to run the business well

and achieve a reasonable lifestyle.”

How much does it cost to open a veterinary clinic?

The costs for setting up a vet clinic are both extensive and expensive. While there are a lot of hefty upfront

costs to cover, Vet Dynamics believes that startup vet practices should be able to generate a positive cash

flow after 12 – 18 months. In order to achieve this, you need:

  • A clear vision for the business that team members and professional advisors are on board with
  • A well chosen location that offers potential for several regular clients
  • To accurately project and forecast likely expenses and revenue

Private firms in this industry make up small, independent veterinary clinics – 69% of which employ fewer

than 10 people.


Loans For Vets

Private firms in this industry make up small, independent veterinary clinics – 69% of which

employ fewer than 10 people. As an SME in this industry you’ll know all too well how

expensive setting up can be. Having the latest technology is essential to remaining

competitive, particularly when you’re up against larger corporates.

Ultrasound, x-ray machines, consulting rooms and kennels are just the few areas of costs

that must be covered, and without significant working capital this will be near impossible to

achieve. For this reason, veterinary business financing can be hugely helpful in assisting

your business launch or expansion.

Traditional Bank Loans

Traditional High Street banks offer veterinary loans to businesses with the right credentials. Unfortunately

for SMEs, the strict qualifying criteria is often out of reach for a businesses in their first 6 – 12 months of

trading. Whilst it’s true that banks are able to offer lower interest rates and usually higher loan amounts, for

young veterinary practices this may not always be the most viable route.

Business Lines Of Credit

A line of credit provides a great funding solution for veterinary clinics. It can help you access emergency cash

as and when you need it. Operating similarly to a credit card, you won’t pay interest on a line of credit until

you start using the funds in the account. After you’ve repaid the money you owe, your line of credit will be

replenished to its original amount.

Equipment Financing

This type of business finance works best for the purchase of expensive equipment. With equipment

financing, you can approach a business finance lender with a quote for how much the equipment you need

will cost. Depending on its value, the lender will give you 80 – 90% of the required cash needed for

purchasing, which you will then be required to pay back over time with interest. Once you’ve paid the lender

off, you will take full ownership of the equipment. The safety net for small businesses is that if you fail to

make repayments, the lender will reclaim the equipment being financed.

Credit Card for Business

You can build up your business’ overall credit by getting a business credit card. Credit limits for business

purposes are far higher than they are for personal use, making them a perfect option for larger purchases.

Many credit card providers also offer cash back and rewards points that could benefit your business.

Keeping on top of repayments is essential to prevent you from racking up interest-heavy debts.

Veterinary Practice Loans

There are several online brokerages and lenders willing to loan money to veterinary SMEs. The loans on

offer can be secured, unsecured, short-term and long-term. Generally speaking, accessing business loans

from online lenders can be done in as quick as 1 – 2 working days, and the flexible repayment periods and

competitive interest rates prove attractive to SME business owners. This is typically the best option if your

business needs finance, fast.

Merchant Cash Advance

Fairly new to the market, a merchant cash advance will work for your veterinary clinic if you take payments

via card sales. With this option, you receive an amount of money in return for a small percentage of your

business’ future debit and credit card sales. Hassle-free and easy to set up, the lender will work directly with

your card terminal provider to deduct future payments. The best part about the merchant cash advance

product is that you get to keep 100% of the money made through cash sales.


SME Loans Application Process

The team at SME Loans are pet crazy! For this reason and more we are dedicated to helping

as many veterinary startups and clinics access the funding they need to reach purrrfect

success. Offering both unsecured vet business loans and the merchant cash advance,

we can help your dreams become a reality in the space of just 24 hours.

SME Loans Funding Options

Merchant Cash Advance

Our merchant cash advance will enable your business to receive an instant cash injection of any amount

between £5,000 and £500,000. After receiving the advance, you will begin to pay the money back through a

small percentage of your credit and debit card sales. In order to be eligible for a merchant cash advance,

your average monthly card sales must total a minimum of £5,000.

Due to the fact the advance is only ever paid back as a percentage of your monthly earnings, repayments

stay nicely in sync with your business’ cash flow. After being approved for a cash advance, you can expect to

see the money in your account in as little as 24 hours. Before applying, please ensure that your veterinary

business is registered and trading in the UK and that you are over the age of 18.

Benefits of the merchant cash advance:

  • Approval is based largely on your business performance
  • No APR will be charged, just one all-inclusive fee
  • It is an unsecured funding option, so you don’t have to risk business assets
  • Flexible, affordable repayments

Business Loans For Vets

With our unsecured business loans, your business will benefit from receiving a lump sum loan amount of

your choice. You can access anywhere between £1,000 – £500,000 and after receiving the money you will be

required to make scheduled monthly repayments at a pre-agreed interest rate.

As our vet business loans are unsecured, you don’t have to worry about offering security to the lender using

valuable business assets. Instead, you will be asked to provide a personal guarantee. After signing the

personal guarantee, you agree that if your veterinary clinic defaults on loan repayments, you as the business

owner become personally liable for repaying the money in full back. Whilst this may sound risky, if you’re

confident in your business’ plans and financial situation, there’s little need to worry.

Benefits Of Business Loans:

  • You could receive the funds in 24 hours
  • Tailored fixed repayment plans over 1 – 5 years
  • No collateral is required
  • High approval rate
  • No collateral is required

Apply For Veterinary Practice Loans

Our online application form should take you just a few minutes. If there is anything you’re unsure of or need

help with, just give us a call on 01244 506279.

Step 1:

Click to apply. The first part of the application involves finding our more about your veterinary business.

Please be ready to provide:

  • The name of your company
  • The number of years trading
  • Your vet business’ average monthly turnover
  • The amount of money you are looking to borrow

Step 2:

The next step involves disclosing your personal details, which include:

  • Your title, first name and surname
  • Position in the business
  • Contact details

Step 3:

Carefully read through the terms and conditions and click ‘get my quote’. From here your application will be

reviewed by one of our approved business finance suppliers, who will help find the best lender for your vet


Step 4:

Please expect a call and email from one of our dedicated account managers to discuss the terms of your loan agreement.

Step 5:

Carefully read through the terms of agreement and sign the relevant documentation ready to return to the

lender. From there you will be able to access the funds in your account in just 24 hours.


Frequently Asked Questions

If you’re still unsure about whether or not to apply for vet business loans, then make sure

to check out our FAQs below where we’ve answered some popular questions we’re asked.

Vet business loans is a form of business loan which is aimed towards businesses in the veterinary services industry. They are essentially business loans that can be used by veterinary businesses to help pay for expensive veterinary equipment or for entrepreneurs looking to start their own veterinary practice.

If you’re looking for a business loan in the UK, you can get one via a broker, lender or a highstreet bank. You can apply for a vet business loan online by filling out an online application and choosing how much you wish to borrow. The application will require information about your veterinary business, how much you want to borrow, some personal details and contact information.

Next, an account manager will be in contact with you to speak about your applications and walk you through the process of receiving business finance.

We have strong experience helping various SMEs, but we also understand that veterinary services come with their own unique problems and ambitions. That’s why our account managers are dedicated to finding the right funding for your business. SME Loans works with a panel of lenders in order to find a loan at a competitive rate that is tailored to your business.

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