Breaking News! New Buy-In Financing
A revolutionary new change in veterinary lending is here – Buy-In Financing. Have you been given the option to buy in to the practice that you work at, only to find you didn’t have enough money to pay for it up front and the seller didn’t want to offer all or any of the financing for you? Now you can borrow money to buy into a practice, get the money from a commercial lender and pay the owner with the money from the loan. Too often an associate has had to put buy-in aspirations on hold because the seller couldn’t/wouldn’t offer to finance the buy in or a substantial portion of it. Today that is changing. You can borrow money to pay the seller, buy a portion of the practice and eliminate the biggest road block – owner financing. Sometimes an owner needs additional funds to pay off other debts or obligations and wants you to pay for the portion of the practice you purchase and do so up front. Not all sellers can afford to provide seller-financing. Lenders have been willing to loan money for buy-ins in the past BUT they wanted the seller to pledge the whole practice as collateral. Sellers are resistent. Why should they pledge the whole practice as collateral when the buyer is only buying a portion of it? A new loan product allows buyers to borrow and eliminates the need for the seller to finance the buy-in. Limitations apply of course but overall its one of the biggest lending announcements to come out in recent years. If you want to buy-in, fill out the form and we can start the match process.