To secure a traditional bank loan, veterinary practices need near-perfect credit, a detailed business plan, financial forecasts, explosive growth, substantial cash reserves, and collateral.
As a result, most independent, non-corporate veterinary businesses don’t qualify for conventional bank financing. Even if they get approved, they usually only qualify for a fraction of what they need.
As an alternative, more veterinarians are turning to revenue-based financing. These financing products are underwritten based on your practice’s revenue and don’t ask for collateral, cash reserves, or perfect credit like banks do. This simplified process makes it much easier to qualify since you only need to meet the minimum monthly income requirement.
What’s more, revenue-based financing companies only need to see a few months of bank statements. Fewer documents mean faster underwriting, and the ability to close on the same day or the next.
In this article, we explain how our lending process is designed to help veterinary businesses access funding more easily and quickly than traditional banks.
Complete this short application form to receive multiple offers for veterinary business loans, with the ability to close as early as today or tomorrow.
| Funding Features | Redline Capital Terms |
|---|---|
| Loan amounts | $30,000 to $2 million |
| Minimum credit score | 600 |
| Minimum time in business | 12 months |
| Minimum monthly revenue | $30,000 |
| Collateral or cash reserves | None required |
| Paperwork requirements | Just a 4-month bank statement |
| Interest-only options available? | Yes |
| Loan programs | Term loans, working capital loans, business line of credit, cash advances, equipment loans, and SBA loans. |
1. Crystal Capital Partners
Secure a Veterinary Business Loan with Just Four Months of Bank Statements
Crystal Capital Partners offers revenue-based financing solutions designed to help veterinary practices secure financing fast.
The only paperwork we need is four months of bank statements, so underwriting is quick, taking as little as one to two hours. This allows us to close as quickly as today or tomorrow. When businesses needed funds urgently, we’ve even stepped in and closed in under five hours.
This simple approach also makes it easier for veterinarians to qualify for larger dollar amounts, which may be needed to acquire diagnostic and surgical equipment, invest in new technology, and manage cash flow. We can extend veterinary practice financing up to 200% of your monthly revenue, while banks very rarely do more than 50%
This simple approach also makes it easier for veterinarians to qualify for larger dollar amounts, which may be needed to acquire diagnostic and surgical equipment, invest in new technology, and manage cash flow. We can extend veterinary practice financing up to 200% of your monthly revenue, while banks very rarely do more than 50%
To qualify, veterinary practices need to:
- Earn at least $30K in gross monthly revenue
- Be in practice for 12 months or more
- Be located in the U.S.
Here’s feedback from clients on how efficiently we handle the application and closing process:
You can hear more from our clients by heading over to our case studies page:
How to Apply for a Veterinary Business Loan with Redline Capital
1. Fill out this short form, which asks for your preferred amount, gross monthly revenue, and industry, and then submit four months of bank statements. We don’t ask for tax returns, balance sheets, or other financial statements.
2. Within a few hours, we underwrite your application and send offers for different lending products you can choose from. Each offer highlights your financing amount, rates, weekly or monthly payments, term length, and origination fees.
3.Choose the offer that works best for you. Take as much time as you need to decide. Our team is here to answer any questions you may have, but we will never pressure you to accept quickly.
4.If you accept, we deposit the funds into your business checking account immediately. This entire loan process typically takes between 24 and 48 hours.
Here’s what sets us apart from other lenders and revenue-based financing providers.
We Enable Borrowers to Secure Lower Rates and Better Terms
As revenue-based financing brokers, we’ve built relationships with top business lenders over the past decade, such as OnDeck, Credibly, Rapid Finance, Kapitus, and BriteCap.
We generate countless loan applications for these lenders, helping them grow their business. In exchange, they offer our applicants priority pricing, wholesale rates, and larger amounts not available to the public.
These relationships also give us negotiating leverage. We can negotiate lower terms for your practice by showing lenders competing offers and asking if they can lower their rate. If your application is initially rejected, we may be able to renegotiate to help you qualify. Lenders rarely do this with individual borrowers.
Complete One Application and Receive Multiple Offers From Reputable Lenders
If you want to apply to different lenders to increase your chances of finding a good deal, you must submit multiple individual applications, which is time-consuming and involves significant paperwork.
Each lender has slightly different criteria, so you need to prepare different documents and complete multiple application forms. Submitting multiple applications in a short time may also negatively impact your credit score.
Additionally, it can be tricky to choose which lenders to apply to because you’ll only see offers from the ones you pick. Most business owners don’t really know which lenders offer the lowest rates for their specific financing needs and industry type.
Instead, with Redline Capital, a single application opens the door to multiple offers. We match your application with the right lenders to ensure you get the most competitive rates for your industry, revenue, and credit profile.
Types of Business Financing Products Available
Redline Capital offers a range of financial products to cover various needs, including:
- Unsecured term loan: Term loans provide a lump sum for a fixed period, ideal for substantial investments, such as equipment, renovations, or practice acquisition or expansion. You don’t have to worry about offering valuable business assets as collateral to a lender.
- Equipment financing: This type of funding is designed to help you purchase or refinance the equipment needed to operate your practice, such as X-ray machines, surgical tables, or anaesthetic devices.
- Business line of credit:: Business lines of credit offer access to funds as needed, useful for managing fluctuating cash flow. Your business can draw funds as needed, only repaying what you use. After you’ve repaid the withdrawn amount, your line of credit will be replenished to its original amount. They are like a business credit card, making them ideal for ongoing expenses or unexpected opportunities.
- Merchant cash advances: : This is a short-term loan, typically under 9 months, allowing your business to receive a cash injection to cover urgent expenses or cash flow gaps.
Upload four months of bank statements here, and we’ll provide you with multiple offers for your veterinary business. We can close as fast as the same day or the next.
Secure Fast and Affordable Veterinary Business Loans with Redline Capital
You can qualify for our veterinary financing solutions by simply submitting four months of bank statements, with the option to close on the very same day you apply.
