veterinarian at workBuying a new veterinary practice, expanding an existing practice, or starting your first almost always requires financing. Healthcare practice financing can seem complex, but there are simple things a veterinarian can do to immediately  improve their ability to secure financing.

These 5 important ways to improve your ability to get financing are perfect for veterinarians, but they hold true for any healthcare professional.

-Save and have cash in the bank.  It might seem like a no-brainer, but if you have a down-payment on hand for your purchase, the odds of approval are very good.

-Maintain or improve a good credit score. Good credit makes financing easier, but if your credit isn’t perfect– there are easy ways to improve your score. Talk to us about your situation, before making a decision.

-Take it easy on the credit cards. Student loans and mortgages aside, it’s best to keep your consumer debt low to remain appealing for financing.

-Know your business.  Your vet practice will be successful with the right plan. Consultants and managers are helpful. Understand how much profit the practice can potentially create and stay informed on how much it’s actually creating. Surround yourself with a trusted team. Ask for help when you need it. Serve your patients– and their human caretakers.

-Have a strong resume. “Nothing succeeds like success.” A proven track record of prior veterinary experience always helps. Success as a working vet at the clinic you wish to purchase could help your case for financing even more. Giving the lender an idea of who you are as a vet starts with a great resume.

MedTrust Capital has a variety of innovative financing solutions for veterinarians seeking to start a new practice or expand an existing one.  There isn’t a “one-way option” to achieve the financing plan you’ll need, because every practice and every situation is different.

Contact us today for a free consultation on your unique veterinary practice.