Today’s pet owners are extremely different than generations’ past. They care for their pets as if they were furry children, and are therefore much more serious about protecting their health. Veterinary practices and animal hospitals must maintain the capabilities to attract and serve these dedicated pet owners as their industry becomes increasingly competitive.
One way practices are adapting to this new landscape is expanding in size. This includes adding physical space, acquiring an existing practice, or opening multiple locations. Few practices, however, can afford the construction or real estate on their own, and those looking to acquire with their own funds often get outbid by corporate buyers.
Animal hospitals are now able to perform highly sophisticated operations but only if they have the means to stay up-to-date with equipment and technology. This might become more difficult in the near future thanks to pet insurance or late-paying owners. As if cash flow wasn’t problematic for practices and hospitals already, both businesses could find themselves awaiting compensation for major procedures shortly before they are expected to meet recurring or sudden expenses.
Fundture Capital provides Small Business Loans for Veterinarian Practices & Animal Hospitals who are waiting on insurance payments and other receivables. These funds can be used for equipment, supplies, furniture, payroll, expansion, remodeling, or any other medical office needs that require cash in hand. Our financing is perfect for practices that find themselves cash poor and struggling to come up with money for immediate expenses. Contact us today for your FREE business funding consultation!