praxisinc.com
The Step-by-Step Guide to Buying a Veterinary Practice
Secure Financing
Your Praxis advisor will:
1. Recommend several banks that finance veterinary practice acquisitions
2. Contact the banks to send you an application
3. Assist you with completing the application
4. Prepare and submit a personal financial statement
5. Present a 10-year computerized income and expense projection to the bank for:
• Working capital
• Loan payments
• The effect of inflation on income and expenses
• Seller's projected post-sale production
• Purchaser's projected added production
• Breakdown production related expenses
• Breakdown fixed expenses
• Breakdown interest expense and loan amortization
• Answer the bank's questions relating to the financial aspects of this purchase
• Assist you in acquiring all needed insurance policies
• Coordinate the bank loan closing and the practice acquisition closing
• Review the bank's note, security, and subordination agreements with you
Find, apply, and obtain
financing through several
veterinary friendly lenders.
