The Situation: Navigating Complex SBA Rules For New Veterinary Practice

Our veterinary practice owner, John Wu, owns three other vet clinics with his veterinarian sister, including one they took over when their parents retired. Starting a new venture, John and his partners, all local veterinarians, turned to First Business Bank for SBA financing for a fourth veterinary practice — Folsom Ranch Veterinary Hospital in California. John trusted our expertise, which was demonstrated when we previously helped him close a complex SBA-funded loan that a community bank could not get across the finish line after a nine-month delay.

  • Streamlined Application Process
    First Business Bank's SBA Lending team offers a simplified and efficient application process. Their expertise guided the client through every step, reducing complexity and paperwork, which helped turn the dream of business ownership into reality.
  • Quick Decisioning
    With a commitment to rapid turnaround times, First Business Bank's SBA Lending team facilitated a swift loan decision. This agility aligned with the client's timeline, allowing them to launch their new business venture without unnecessary delays.
  • No Prior Ownership Experience
    Although John has in-depth experience owning and operating veterinary clinics, the Folsom Ranch Veterinary Hospital is jointly owned by owner-veterinarians with management experience but no prior ownership experience. 

The Solution: SBA 7(a) Loan From First Business Bank

First Business Bank, an SBA-designated Preferred Lending Partner, provided an SBA 7(a) loan which included start-up funds for building improvements, equipment, and working capital.

  • SBA Expertise & Reliability
    First Business Bank’s SBA Lending team previously helped John when a community bank delayed on an earlier project, so he turned to us again for our proven capabilities. Our SBA experts helped him to overcome new SBA rules, working closely with them to achieve their time-sensitive funding request. The new locally owned veterinary hospital is filling a void in a community where the closest emergency pet care was more than 30 minutes away. 
  • Dependability Of Lending Partner
    First Business Bank’s SBA Lending team guided the client through the loan process and provided the financing facility in accordance with the timeline desired by the client and seller.
  • Functionality of Loan
    Using the SBA 7(a) program, First Business Bank’s loan facility was the right loan for this client, allowing him and his partners to gain an advantage to open this veterinary hospital where a corporate-owned veterinarian operation wanted to open a hospital.