What size bank works with Veterinaryloans.com?
Recently we received an email from a student writing a report on lending in the veterinary industry, specifically financing veterinary practice purchase (acquisition), startups, and building purchases along with new construction. The student wondered if the lenders fit any certain common size or type. The answer might surprise you. The veterinary industry has more than 25,000 veterinary practices in the US, give or take a few. Any given year it’s estimated that 5-10% of those are changing ownership, either completely or partially by adding a new partner to the ownership mix. This represents over One (1) Billion in potential loans every year. Although the number is smaller in part due to internal/owner financing its still a number that catches the attention of lenders, large and small. At Veterinaryloans.com we have lenders on board that would be considered small by WallStreet’s standards, a few are community banks with limited geographical lending. One of the positives is their knowledge of their own region. Other lenders in the que include some of the largest lenders in the world. For instance one of the member-lenders generated in excess of $800 Million in loans during 2014 and increased that by over 30% in 2015, veterinary industry loans have historically been a key component to their portfolio. – (collaborative article, veterinaryloans.com staff, 2016)