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If you need new medical equipment for your veterinary practice or just need to expand your office, these lenders can offer you the veterinary practice financing designed to help you succeed. Contact these recommended banks to land your Veterinarian SBA loan.
1) Live Oak Banking Company — WILMINGTON, NC
2017: 126 loans, $1,302,762 average loan, average interest rate of 5.7%
Live Oak Bank’s mission is to create an unprecedented banking experience for small business owners nationwide, through service and technology. They offer competitive rates and loan terms. Live Oak was founded as a lender exclusively focused on financing veterinary practices, that’s why there’s no surprise that they’re #1 for Veterinarian SBA Loans.
2) Wells Fargo Bank, — SIOUX FALLS, SD
Year to date: 38 loans, $704,721 average loan, average interest rate of 6.3%
Wells Frago’s SBA 7(a) loan was designed for businesses looking to purchase an existing business, expand to another location, buy equipment, acquire land or a building, or a combination. They offer long repayment terms for lower monthly payments. And lower down payments that make upfront costs more affordable for Veterinarian SBA Loan applicants.
3) Compass Bank — BIRMINGHAM, AL
2017: 33 loans, $1,129,273 average loan, average interest rate of 5.2%
Originated in Alabama, Compass Bank offers competitive low rate, lower payments and longer terms on their SBA loans. Recognized as a “SBA Lender of the Year” in 2015 by the Small Business Administration. Compass Bank also has the lowest cost lender on our list for Veterinarian SBA Loans.
4) Firstrust Savings Bank — CONSHOHOCKEN, PA
2017: 27 loans, $1,120,200 average loan, average interest rate of 5.9%
Headquartered in Conshohocken, PA, Firstrust Savings Bank has the highest average approved loan amount in our list. Their SBA department promises to quickly identify the right SBA program that will fit your needs and works directly with you from application to close. If you’re looking for a less hassle application for veterinarian SBA loan, then Firstrust Savings Bank could be your right choice.
Here’s our top banks that provide veterinarian small business SBA loans:
|Rank||Bank||City||ST||# Loans||Avg Loan||Avg Int|
|2||Wells Fargo||Sioux Falls||SD||38||$704,721||6.3%|
|4||Firstrust Savings Bank||Conshohocken||PA||27||$1,120,200||5.9%|
|5||United Community Bank||Blairsville||GA||26||$1,491,115||6.0%|
|6||Pacific Western Bank||Beverly Hills||CA||19||$1,500,447||6.0%|
|7||JPMorgan Chase Bank||Columbus||OH||14||$219,000||6.8%|
|9||United Midwest Savings Bank||De Graff||OH||9||$779,500||6.8%|
|10||Mid Penn Bank||Millersburg||PA||7||$1,056,757||5.9%|