Tap to get financing
SBA 504 Loans
SBA 504 Loans
Loan usesRequirementsDown paymentsRates and costsCalculatorApplication processCompare SBA loansSBA 504 RefinancingApplication ChecklistClosing ChecklistLoan AssumptionFrequently Asked Questions
Requirements Application process Calculator Blog
About
About usContact us
Get financing
Close sba504.loans is an independently owned and operated website and has no government affiliation. We are not the Small Business Administration and are not a lender. If you are trying to reach the SBA click here to be redirected.
Newly Published
Aug 26 at SBA 504 Loans
What Is SBA Form 159?
Aug 26 at SBA 504 Loans
What Is the Small Business Administration?
Aug 26 at SBA 504 Loans
What Is SBA Form 770?
Explore the Janover Network
Mar 24 at Multifamily Loans
The Best 3 Multifamily Loans for Affordable Housing in 2023
Mar 20 at Multifamily Loans
Multifamily Minute Reader Reflections: How Will Bank Failures Impact Multifamily?
Mar 17 at Commercial Real Estate Loans
Top 10 Commercial Real Estate Lenders of 2023
Was This Article Helpful?
SBA 504 Loan Guide
Last updated on Feb 19, 2023
2 min read

SBA 504 Loans for Veterinary Practices

SBA 504 loans are designed to benefit small businesses of all types throughout the United States. In most cases, these loans offer up to $5 million that can be used for some very specific things. However, when it comes to manufacturers, you’ll find that the rules change a bit – manufacturing firms

Better Financing Starts with More Options Start Your Application and Unlock the Power of Choice. Click Here to Get Quotes →$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1M offered by a Credit Union at 5.1%Click Here to Get Quotes
In this article:
  1. Veterinary Practices and SBA 504 Loans: A Great Fit
  2. How SBA 504 Loans Can Help Veterinary Practices Thrive
  3. The Benefits and Limitations of SBA 504 Loans for Veterinary Practices
  4. Related Questions
  5. Get Financing

Veterinary Practices and SBA 504 Loans: A Great Fit

With 4.6% growth since 2013 and predicted revenue of $43 billion in 2018, the veterinary services sector is quite robust. So, whether your business is focused on treating beloved household pets or making sure livestock stays healthy, it’s an excellent time to be in the industry. And, whether you’re looking to grow your current veterinary practice or build a new office, an SBA 504 loan could help finance your plans for expansion.

How SBA 504 Loans Can Help Veterinary Practices Thrive

SBA 504 loans offer up to $5 million for qualifying small businesses, and can be used to for a number of things. You can purchase real estate, as well as design and build your practice to meet your specific needs. Or, you could purchase an existing building and make improvements. You can also use those funds to purchase equipment that you need, including x-ray machines, pet kennels, or even specialized surgical equipment.

The Benefits and Limitations of SBA 504 Loans for Veterinary Practices

SBA 504 loans have a variety of benefits for borrowers, including some of the lowest interest rates available (rates are currently around 5%). 504 loans also have relatively straightforward eligibility requirements— in most cases, your business simply needs to be in an approved industry and not be more than a certain size. Of course, you must also have a very good credit score in order to qualify.

While the upsides of 504 loans are many, they still have one major restriction: they cannot be used for working capital. However, there are other a variety of loan choices available that allow for working capital financing, both from the SBA and from conventional lenders.

We’re here to help you get the commercial financing you need. Simply fill out the form below for a risk-free consultation and a free SBA loan quote!  

Related Questions

What are the eligibility requirements for SBA 504 loans for veterinary practices?

The eligibility requirements for SBA 504 loans for veterinary practices are the same as for any other small business. To qualify, you must be a for-profit business, have a tangible net worth of less than $15 million, and have an average net income of less than $5 million after taxes for the past two years. Additionally, you must be able to demonstrate that you have the ability to repay the loan. You must also be able to provide collateral for the loan, such as real estate or equipment.

For more information on eligibility requirements, please visit the SBA website.

What are the benefits of SBA 504 loans for veterinary practices?

SBA 504 loans offer a variety of benefits for veterinary practices, including some of the lowest interest rates available (currently around 5%) and relatively straightforward eligibility requirements. In most cases, your business simply needs to be in an approved industry and not be more than a certain size, and you must have a very good credit score in order to qualify.

However, SBA 504 loans have one major restriction: they cannot be used for working capital. For working capital financing, you may need to look into other loan options, both from the SBA and from conventional lenders.

What are the steps involved in applying for an SBA 504 loan for a veterinary practice?

The steps involved in applying for an SBA 504 loan for a veterinary practice are as follows:

  • Find a Certified Development Company (CDC) to work with. A CDC is a non-profit corporation that works with the SBA to provide 504 loans. You can find a list of CDCs here.
  • Gather the necessary documents. This includes your business plan, financial statements, tax returns, and other documents that demonstrate your ability to repay the loan. You can find a list of documents here.
  • Submit your application. You can submit your application to the CDC you’ve chosen to work with. The CDC will review your application and determine if you qualify for the loan.
  • Receive loan approval. If your application is approved, the CDC will issue a commitment letter to you and your lender. This letter outlines the terms of the loan.
  • Close the loan. Once the commitment letter is issued, you and your lender will work together to close the loan. This includes signing the loan documents and paying any closing costs.

What are the maximum loan amounts for SBA 504 loans for veterinary practices?

The maximum loan amount for SBA 504 loans for veterinary practices is up to $5 million. This information is from the SBA 504 Loans for Veterinary Practices article on the SBA504.loans website.

What are the interest rates for SBA 504 loans for veterinary practices?

The interest rate for SBA 504 loans for veterinary practices is typically fixed for the life of the loan and ranges from below-market rates of 4.5% to 5.5%.

The Small Business Administration (SBA) sets the maximum interest rates that can be charged on SBA 504 loans. The current maximum interest rate is 5.5%. The interest rate is based on the market rate for 5- and 10-year U.S. Treasury issues plus a spread of 2.25% to 3.50%.

For more information, please visit the SBA 504 Loan Program page.

In this article:
  1. Veterinary Practices and SBA 504 Loans: A Great Fit
  2. How SBA 504 Loans Can Help Veterinary Practices Thrive
  3. The Benefits and Limitations of SBA 504 Loans for Veterinary Practices
  4. Related questions
  5. Get Financing
Tags
  • SBA 504 Loan
  • SBA 504 Loans
  • SBA 504 Financing
  • SBA 504 Loans for Veterinary Practices

Getting a small business loan should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

Get financing →
Janover logo

SBA 504 Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

Janover Inc.

6401 Congress Ave
Ste 250
Boca Raton FL 33487

[email protected]

Site Information

Privacy Policy
Terms of Use

This website is owned by a private company that offers business advice, information and other services related to multifamily, commercial real estate, and business financing. We are a technology company that uses software and experience to bring lenders and borrowers together.

All users should perform their own due diligence and research. Nothing on this website is an offer or a solicitation for a loan. This website does not endorse or charge you for any service or product. None of the information on this site constitutes legal advice. We are not affiliated with the Small Business Administration (SBA). If you need to visit the SBA directly please click here: sba.gov

Click here for our Advertiser Disclosure.

Copyright © 2022 Janover Inc. All rights reserved.