Financing Equipment for Your Veterinary Practice

If you own a veterinary practice, you must balance the need to provide the highest level of care against profitability. You must manage the cost of sourcing medications, outfitting your practice with equipment and paying staff against customer budgets. 

If you don’t invest in your practice, your level of care will fall behind. If you do, then seek to recoup the costs by increasing fees, you may send customers to your competitors. This is the situation many practice owners face and it’s one that can be difficult to solve. 

Fortunately, private lending can help give you the breathing room required to get your practice the best equipment. From loans to help you stock new medications to asset finance deals on expensive veterinary equipment, you can spread your costs in a more manageable way and offer cutting-edge care.

If you’re a veterinary practice owner, talk to Rangewell today to see how we can help you raise the right type of finance for your needs. We offer free advice and can negotiate a loan on your behalf at no cost to you.

Types of vet equipment finance 

There are lots of different ways in which finance can be built around your requirements. Provided you know your needs early, we can help you approach lenders who are able to support you with specialist veterinary equipment to meet demands, including:

Asset finance for veterinary equipment

Veterinary practice equipment is highly specialised and generally expensive as a result. For a practice to be successful, you’ll need high-performing equipment you can rely on. Purchasing these assets with cash can be prohibitively expensive in terms of up-front expenditure, so many vets instead turn to finance as a solution. 

Asset finance sees a lender purchase an asset then lease it to you, allowing you to acquire it and spread the cost across monthly repayments. The specific conditions of your asset finance agreement will depend on the lender and your arrangement, but this is a much more viable route to ownership for costly machinery, computer equipment and veterinary tools. 

Click the link to learn more about asset finance. 

Finance for veterinary medication 

Veterinary medication is strictly controlled and regulated in much the same way as medication for human beings. Veterinary practices must stock approved medication in approved conditions, with expectations around temperature control, dispensing systems and stock control.

To purchase medication and stock your practice, you may wish to approach lenders for support. A loan at the right time can help you expand your stock or fill a gap in your products, helping you stay ahead of the competition 

Practice expansion or renovation loans

If you need to develop a new facility within your practice, such as a new treatment room, you may need loans to support the project. Rangewell can help you scope out the project and streamline an application that will appeal to lenders, helping them see the value of the investment and demonstrate your ability to make regular repayments. 

Veterinary practice finance from Rangewell 

Veterinary practices are vitally important to a nation of pet lovers, but in order for you to run a profitable business, you need to keep control of your business’ finances and make decisions that improve rather than hinder your financial future. 

Work with Rangewell and we’ll be on your side, helping you navigate the lender’s market and negotiating a deal that helps you invest in the equipment you need to continue delivering exceptional levels of care for the nation’s beloved pets and wildlife. 

Contact Rangewell today to apply.