Re: How much can a vet borrow on a commercial loan?
Posted: Mon Feb 15, 2016 8:01 am
Hi moria.
Welcome to the forums.
Since you're a veterinarian, and an experienced one at that, you can borrow up to 100% of the business costs / property value with a veterinary practice loan.
Lenders consider vets to be strong borrowers and as such, they can allow you to borrow up to 100% of the value of a commercial freehold property or the value of the business (leasehold) including fit-outs and equipment costs.
Please note that the maximum loan term of this loan will be 25 years for freehold property and 15 years for leasehold or as per the lease agreement.
Additionally, if your application is very strong, you can also get special interest rate discounts through some lenders.
Hope this answers your question. Would you like to know the lending criteria on this?
Cheers,
Otto
Welcome to the forums.
Since you're a veterinarian, and an experienced one at that, you can borrow up to 100% of the business costs / property value with a veterinary practice loan.
Lenders consider vets to be strong borrowers and as such, they can allow you to borrow up to 100% of the value of a commercial freehold property or the value of the business (leasehold) including fit-outs and equipment costs.
Please note that the maximum loan term of this loan will be 25 years for freehold property and 15 years for leasehold or as per the lease agreement.
Additionally, if your application is very strong, you can also get special interest rate discounts through some lenders.
Hope this answers your question. Would you like to know the lending criteria on this?
Cheers,
Otto