Rangewell

Funding for vets

Finance to help you set up, buy and operate your veterinary practice

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Rangewell

Funding options

£

Asset Finance

  • Get any veterinary equipment Spread the cost
  • Use the latest technology Portable X-ray - ultrasound and more with no deposit finance
  • Release cash tied up in equipment With asset refinance
  • Buy or lease Vehicles - medical systems - IT - any veterinary business equipment

Practice Development

  • Buy veterinary premises With no upfront cost
  • Veterinary funding With jigsaw funding solutions
  • Buy your competitors Expand your veterinary practice
  • Buy your specialised vehicles With no upfront investment

Goodwill Loans

  • Release wealth from your practice With no impact on cashflow
  • Secure funds for any purpose Investment - business development - lifestyle
  • Get £50,000 - £500,000 At short notice
  • Preferential rates Making borrowing affordable

Talk to Rangewell – the business finance experts

At Rangewell our business finance expert team includes specialists in the veterinary sector. They understand your funding challenges, and can use their expertise to help you find the solutions.

At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.

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Veterinary Practice Loans

Finance to help you set up, buy and operate your veterinary practice

At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.

All the information you need

The need for financial support in the vet industry

The veterinary industry has experienced a significant increase in demand over the past 5 years, and since Covid-19 hit. These services provide medical advice and treatment for pets and various other farm animals across the UK.

The growing popularity of owning a pet has raised the need for quality pet care at competitive prices - which is excellent news for vet practice owners. 

Vet practices can be costly to set up, so it's not uncommon for practice owners to look to secure funding through loans or investors or a combination of both to fund vet equipment, real estate, renovations and more. 

If you're looking for finance solutions for equipment finance

Rangewell can help source finance packages to help your business thrive

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What business loans are available for veterinary practices?

Like many others in the healthcare sector, the veterinary profession is highly competitive. If you're working as an independent practice, you'll need to find a way to provide the same quality equipment as the vet chains. Unfortunately, the market for loans and veterinary financing options is so crowded at the moment, and you may need help when looking for the right choice for you. 

Usually, a bank will be the first place to go for a loan. They can offer low-interest rates and usually a high loan amount, but this may not be the best option if you've never owned a veterinary practice before. Instead, Rangewell works with brokers who will lend money to veterinary startups. These can either be secured or unsecured, depending on the size of your loan, and your individual circumstances. The loan will either be short-term or long-term.

Speak to Rangewell today. We can help make the financing arrangements over a financing period that works for you. We can help find a financing partner to help your business thrive. We can even help if you're looking for lending for practice refurbishments. 

What loans are available for veterinary equipment?

Setting up in practice or ready to update, being able to call on the latest technology is essential to deliver the quality of care you want. From digital X-rays to portable ultrasounds, the latest equipment will mean a major investment. At Rangewell we can offer Asset Funding that can provide the most cost-effective solutions when you need equipment.

Here are a few examples of lending for the veterinary sector:

Hire Purchase

Hire purchase will allow you to own the given asset and enables you to spread the cost over a period that suits you. It means you don't have to buy equipment outright, and your existing funds can be used elsewhere. This will enable better cash flow budgeting as your repayments will be fixed. 

You'll also own the good outright in completion. But you should know the interest charge can be offset against profits for taxation.

To find out how a hire purchase agreement can help you, speak to Rnagewell today.

Leases

Leasing will allow you to get the most use out of your equipment without having the responsibility of actually owning it. If you're looking for freedom and flexibility, this will be the best option for you. It will allow you to have the best equipment without buying it outright while enabling you to preserve your capital. 

Leasing will consist of fixed monthly payments, and not only does this mean easier cash flow, but repayments will be tailored to suit your business circumstances. 

To learn more about professional development for veterinary practitioners, speak to Rangewell today. 

New or used?

Used equipment may be a sound investment. If you are setting up a new practice. Buying used and refurbished veterinary equipment may mean cost savings - and contrary to what you might expect, you don't need to pay cash.

Wanting to grow your practice?

Our team can find the most appropriate and affordable finance, whatever your goals

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What business loans are available to buy a veterinary practice?

As an SME in the industry, you'll probably know how expensive it will be to set up a business. Having the latest technology is imperative to ensure you stay competitive and without working capital, this will be impossible to achieve.

Ultrasounds, x-rays, kennels, and consulting rooms are just a few areas that will need to be covered. This is why veterinary business financing will be helpful for business expansion.

If you want to buy an existing practice, it will require a substantial investment. It may be possible to arrange a straightforward business loan.

Unsecured Loans

Unsecured Loans are ideal for smaller sums. An unsecured loan is a loan that will be supplied based on how creditworthy a borrower is without pledging any collateral or security in the event of a default. Unsecured loans are usually called personal loans and will be available to borrowers with high credit ratings.

Secured Loans

Secured Loans may be used to borrow upwards of £250,000, and so may be more suitable for the costs involved in buying a practice. A secured loan is a type of lending backed by collateral or financial assets you own, like a home or a car. This collateral can be used to pay the lenders if you fail to repay the loan. Lenders accept collateral against secured loans to incentivise borrows to repay their loans on time.

Buyout and Buy-in Loans

If you are thinking of buying into a large practice, you may need to do so as a partner - or buy out a partner who may be retiring. Buy-in and Buyout finance recognises the challenges and provides funding tailored to help you make full use of the opportunity.

What loans are available to buy a veterinary franchise?

Typically, buying a veterinary franchise is more straightforward than starting a veterinary practice from scratch. Franchisors will provide support to clinic owners new to owning, which means they can help you get your business up and running quickly. You can also draw on the experience of people who know what's involved in starting a business. 

If you'd like to speak to veterinary healthcare professionals, get in touch with Rangewell today. We can help explain what's involved in the initial capital outlay. We can help explain the tax liabilities involved, so speak to use before you think of using any other bank facility.

Franchise Loan

A veterinary franchise could provide valuable publicity and support for your practice, but it will mean a substantial initial fee and ongoing costs. Conventional business lenders, such as banks, may not be able to help, as your business is technically a start-up, lacking a business history.

A Franchise Loan package may provide the solution.

Veterinary Practice Loan

Practice Loans recognise your status as the owner of a veterinary practice. It can provide a relatively high level of funding at a preferential rate of interest, which you may use for any business purpose.

Contact us to find out more.

Working Capital Finance

Working Capital Finance is designed to give you additional working capital. It can be an important advantage during the early stages of a new practice, giving you the cash you need to pay staff and suppliers. It is designed to be repaid in the short- to medium-term.

Growth Finance

Large-scale finance can let you realise major plans such as acquiring a competitor.

Growth Finance is a special type of funding designed to let you fund your plans.

Get our help finding the most competitive lending for your practice.

Jigsaw Funding

Major projects, such as buying a practice may require funding from more than one source. At Rangewell, we create this kind of ‘Jigsaw' funding to provide the most cost-effective solution to each aspect of your financial plans, which could include funding for equipment, premises and even goodwill loans for vets. Contact us to discuss how 'jigsaw' funding can provide answers for your Veterinary Practice.

What businesses are eligible for a loan?

Rangewell can help veterinary practice owners access the finance they need quickly. We have a panel of expert lenders who can help find you the deal you need. We'll usually ask you to provide the following information to find out if you're eligible for a loan:

  • The name of your business
  • The number of years your company has been trading 
  • Your average monthly turnover
  • The amount you're looking to borrow to fund your vet practice 

We'll then get in touch to discuss the terms of your vet business loan or business cash agreement. 

To get started with the purchase of state of the art equipment

Speak to Rangewell today we have an understanding of all finance markets and can provide the advice you need to grow your business

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What are the benefits of getting funding from Rangewell?

With unsecured business loans, you can apply for funding that best suits how your business works. The lenders we work with will allow a business to access anywhere between £1,000 to £5,000. 

As we can offer unsecured business loans, you won't have to worry about providing security. Instead, you will be asked to provide a personal guarantee. 

Other benefits of business loans are:

  • You could receive funds within 24 hours
  • You can tailor your repayment plans from 1-5 years
  • No collateral is required.

REAL EXAMPLES OF WHAT WE CAN DO

  • Help arrange jigsaw funding for a vet to let her buy into an existing practice

  • Find a lender to provide the most competitive commercial mortgage to acquire premises

  • Help set up a 100% funding plan to allow a newly qualified vet to set up a practice

  • Help arrange funding for a veterinary partnership’s expansion

  • Find the most effective source of funding to allow a vet to take on a new partner

What vets say about finance...

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Discover our range of finances

Every type of finance for every type of business

Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.

Helping you build your profits

  • Equipment without capital costs
    You can avoid capital costs for your instruments and equipment with asset finance.
  • Funding for all your equipment
    A single arrangement can cover items from multiple suppliers.
  • Repayments that fit your budget
    We can help you arrange funding that reflects your needs and resources, and scaled to fit your monthly operating budget.
  • Buy premises for your practice
    Buying your premises with a commercial mortgage can often cut your outgoings, and help you secure an appreciating asset for your veterinary practice.
  • Funding your operating costs in the first months
    The first months of a new veterinary practice can be challenging. We can provide financial solutions to help you stay afloat.
  • Better than 0% finance
    Some suppliers may offer 0% finance for equipment. Call us to see how you can pay less than with these ‘interest free’ deals.

Download Rangewell’s free and detailed guide to business lending for Veterinary Practices

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Frequently asked questions

Have a question?

How do you finance a veterinary practice?

There are multiple ways to finance a veterinary clinic; these are:

Business lines of credit - This operates like a credit card, so you won't pay interest until you start using the funds in the account.

Equipment financing - You can approach a business finance lender with a quote on how much the equipment you'll need will cost. The lender will give you 80%-90% of the cash required depending on the value. 

Unsecured business loans - Lenders can work with businesses to access funding quickly, with flexible repayment options and competitive rates.

Merchant cash advice - Merchant cash advice will work for your veterinary clinic if you take payments via card sales. You'll receive an amount of money in return for a small percentage of future credit card and debit sales.

To find out more about competitive broker finance solutions, speak to Rangewell today. 

What loans are available for veterinary practice start-ups?

Franchise Loan
A veterinary franchise could provide valuable publicity and support for your practice, but it will mean a substantial initial fee and ongoing costs. 

Veterinary Practice Loan
Practice Loan recognises your status as the owner of a veterinary practice. It can provide a relatively high level of funding at a preferential rate of interest, which you may use for any business purpose.

Working Capital Finance
Working Capital Finance is designed to give you additional working capital. It can be an important advantage during the early stages of a new practice, giving you the cash you need to pay staff and suppliers. It is designed to be repaid in the short- to medium-term.

Growth Finance
Large-scale finance can let you realise major plans such as acquiring a competitor.

Jigsaw Funding
Major projects, such as buying a practice may require funding from more than one source.

How much does it cost to set up a veterinary practice in the UK?

Obviously, renting costs vary up and down the country, but you could expect to pay £25,000 to £30,000 a year as a minimum, and more for a large practice in a prosperous town centre. You will probably need a minimum of £80,000 worth of equipment to equip a basic surgery. Experts reckon that the employment costs of a vet practice will be around 40% of revenue. 

To find out more about finance for business, speak to Rangewell today. We can find cost-effective financing solutions to suit your needs. 

How do I start a veterinary business?

You'll need to think about the following things when setting up a veterinary practice:

  • Where's the perfect location
  • Should you rent or buy?
  • Who's part of your team?
  • How will day to day work?
  • Where will the money come from?
  • How will you attract clients?

You may not have all the answers at this point, but you should build a great team of advisors as a first step in owning your practice.

To find an expert long-term finance partner to make the finance arrangements to suit your needs, speak to Rangewell today.  

Our service is:

Impartial

Transparent and independent, treating all lenders equally, finding the best deals.

In-depth

Every type of finance for every type of business from the entire market - over 300 lenders.

Personal

Specialist Finance Experts support you every step of the way.

Free

We make no charge of any kind when we help you find the loan you need.