Lakepoint secures 100% financing for new veterinary practice

Amount: $1,200,000

Lender: Chartered bank

Facilities: Operating line, Term loan for leasehold improvements, Corporate VISA

Location: Okanagan

Term loan amortization: 12 years

Pricing: Prime - 0.25%

Goals achieved: Greater borrowing flexibility

Recently, a financial planner referred us a successful, established veterinary practice that was looking to expand to a second location. As extremely busy professionals, it made sense to engage Lakepoint to run a comprehensive process practice that included sourcing, negotiating and closing the financing they required to build out the new location.

Banks and credit unions consider Veterinarians to be high-value professional borrowers, and by and large offer some of their best loan pricing to these borrowers, whether they have engaged a corporate debt advisor or not. So, do we add value? Two ways: we ensure the client is getting the best structure, and we do all of the heavy lifting for them so that they can focus on their practice.

With regards to structure, we negotiated a 12 year amortization on the term loan, two years longer than many banks were willing to offer, which materially reduces debt servicing obligations. With regards to heavy lifting, obtaining commercial financing can be a rigorous, disjointed and sometimes frustrating process. Our proven process streamlines results, takes dozens of hours of work off our client's desks, and lets them do what they do best: running their business.

Expanding your business is too important to leave to chance. At Lakepoint, we make sure you get the right structure, at the best terms, without the burden of managing the process yourself. If you’re considering growth or refinancing, reach out to us for assistance.