Starting a Veterinary Practice? What to Know About Financing Through Bank of America Practice Solutions
Vet Startup Loans: Why Choose Bank of America?
Opening a veterinary hospital is more than a business decision — it’s a personal milestone. It’s the moment your years of education, clinical experience, and patient care come together under your roof.
But if you're like most veterinarians, you’re probably wondering… “how can I pull this off?”
Bank of America’s Practice Solutions program is one of the most trusted veterinary financing options in the U.S., and for good reason.
It’s tailored specifically for veterinarians looking to start, buy, or grow their practices — and it’s designed to make the process feel less overwhelming.
Whether you're still dreaming or you’re knee-deep in planning, we’re here to walk you through some key insights about using Bank of America veterinary loans to launch your practice.
Why Choose Bank of America for Veterinary Practice Loans?
If you’re exploring how to finance a veterinary startup, you’ll find that Bank of America has a long-standing reputation in the veterinary community. Their Practice Solutions program offers:
Veterinary-specific loan packages
Dedicated healthcare lending specialists
100% financing for startups
Guidance from pre-approval to post-opening
Unlike general business loans, this program is built around the financial needs of medical professionals — including extended loan terms and the ability to finance your entire startup, from real estate to x-ray machines and exam tables.
What do veterinarians appreciate most? They won’t ask you to explain what a wet table is, or why you’re budgeting for X-ray software. They've seen it all before, and they’re prepared to support you through every step.
What Can a Veterinary Startup Loan Cover?
Veterinarians often assume they'll need to piece together funding from different sources — one loan for construction, another for equipment, and so on.
But with Bank of America Practice Solutions, a single loan can often cover everything you need to open your doors.
Here’s what their startup loans typically include:
Leasehold improvements and construction build-outs
Medical and diagnostic equipment
Surgical and dental suites
Practice management software and IT setup
Furniture and office furnishings
Inventory and pharmaceutical supplies
Signage and marketing costs
Working capital to cover the first few months of operations
That last one is key. Many lenders don’t account for the “ramp-up” period — but Bank of America includes working capital in the loan structure so you can pay staff, order supplies, and cover operational costs while you’re still building your client base.
How Do Payments Work? (And Can You Pay Off Early?)
Let’s talk about repayment — because you’re probably wondering what this means for your monthly cash flow.
Veterinary practice loans from Bank of America typically come with:
Flexible loan terms, often 10–15 years
Fixed or variable interest rate options
No prepayment penalties, meaning you can pay it off early if your practice does well
Monthly payments that include both principal and interest
The no-prepayment-penalty feature is a big deal. It gives you peace of mind knowing you can pay extra toward your loan if you start turning a substantial profit — without being penalized for your success.
And don’t forget: the longer loan term isn’t just about spreading out debt — it helps keep monthly payments manageable, especially during those early months when you're still gaining momentum.
Real-World Questions Veterinarians Ask
Let’s go beyond the brochures for a moment. Here are some honest, practical questions veterinarians often ask during the startup process, and how the Bank of America Practice Solutions program addresses them:
“Do I need a down payment?”
In many cases, no. Their 100% financing means you may not need to put any money down — a massive relief if you’re still paying off student loans or don’t have deep savings.
“Will they finance a mobile practice or urgent care model?”
Yes — the program isn’t limited to brick-and-mortar general practices. Whether you're planning a mobile unit, urgent care, specialty clinic, or boutique wellness practice, their veterinary lending team can help structure a loan that fits your model.
“How long does the loan process take?”
It depends on how far along your planning is. If you already have your business plan and location in mind, things can move quickly. But it’s best to start conversations early so the team can guide you through site selection, budgeting, and buildout costs.
“What if I’ve never run a business before?”
You’re not alone! Most veterinarians don’t have an MBA. One of the perks of the Practice Solutions program is that it connects you with experienced specialists and resources to help with planning, budgeting, and operational setup. You don’t need to have all the answers — just the passion and vision.
A Financing Partner
Starting a veterinary hospital isn’t just about square footage and surgical lights — it’s about building a space where your team can thrive, your patients are cared for, and your career takes a new leap forward.
Bank of America’s Practice Solutions is a financing partnership designed with veterinarians in mind. With industry-specific guidance, tailored repayment terms, and flexible early payoff options, it’s one of the most trusted resources for veterinarians ready to leap.
You’ve cared for other people’s practices — now it’s time to build your own!
How Bank of America Practice Solutions Can Help You Start Your Veterinary Hospital
How BofA Practice Solutions Helps Vet Startups Succeed
If you’re a veterinarian dreaming of opening your hospital, you’re in good company! Starting a practice is one of the most rewarding (and challenging) things you can do in your career. One of the first questions most veterinarians have when they start exploring this idea is:
How in the world am I going to pay for this?
The good news? You don’t have to do it all on your own.
Bank of America is a proud financial partner of the American Veterinary Medical Association and the American Animal Hospital Association, and their Practice Solutions Program is the perfect first step to answering this question.
Bank of America’s Practice Solutions program is a popular, veterinarian-friendly financing option that has helped countless DVMs and specialists get started on their new journey.
They offer customizable loans for veterinary professionals seeking to start a new practice, expand their existing one, or acquire an existing practice.
Let’s walk through what you need to know and answer some of the most common questions veterinarians ask about loans and the BofA Practice Solutions program.
Why Do So Many Veterinarians Use the Bank of America Practice Solutions Program?
First, a bit of context: Bank of America has an entire division dedicated to veterinary, dental, and medical professionals, and they genuinely understand the unique challenges and expenses associated with opening a veterinary hospital.
Here are some reasons why so many veterinarians choose this program:
100% financing available: Many veterinarians don’t have significant cash reserves after vet school, internships, or years as an associate. BofA offers loans that cover the full cost of your project, including equipment, construction, inventory, and even working capital to get you through the first few months.
Long repayment terms.: They offer terms that help keep your monthly payments manageable, which can be critical while you grow your client base.
Specialized expertise: The loan officers in the Practice Solutions program specialize in working with medical professionals. They understand zoning, hospital layouts, and the reality of veterinary revenue cycles, so you won’t have to explain why an x-ray table is necessary or why you’re budgeting for a wet table.
What Are the Interest and Payoff Options Like?
Another common question that’s asked is: “Can I pay it off early if my practice starts doing well?”
The short answer is: Usually, yes — and often without a penalty.
Bank of America’s Practice Solutions loans typically allow you to pay more than your monthly payment, or even pay off the loan entirely ahead of schedule, without any prepayment penalty. This is a considerable advantage if your hospital grows faster than expected and you want to reduce your interest costs over time.
Speaking of interest…these loans do accrue interest from the moment funds are disbursed (like any commercial loan). But because the terms are longer and the rates are designed for medical professionals, the payments are structured to be as manageable as possible. You’ll make monthly payments that include both principal and interest.
Suppose you’re concerned about total interest paid over the life of the loan. In that case, you can always pay extra toward principal when you’re able, and every extra payment chips away at the balance and reduces future interest.
What Else Should You Consider When Starting Your Hospital?
Here are a few other common questions veterinarians ask when thinking about a startup:
Do I need a business plan?
Yes — and the Practice Solutions team can even help you refine it. A solid business plan shows lenders (and yourself) that you’ve thought through your market, your services, and your numbers.
What do the interest rates look like?
Practice loan rates are very competitive and vary depending on loan purpose and term, so speak with a Practice Specialist who can help with your specific financing needs. There are also options to lock in your rate so you won't have to worry about potential rate increases.
What can the load cover?
It can cover construction, build-out, equipment, inventory, signage, IT, and even some operating expenses for the first few months.
How long does it take?
The financing process can take anywhere from a few weeks to a few months, depending on how ready you are and how complex your project is.
What if I don’t have perfect credit?
They understand that most veterinarians are still paying off student loans. Strong credit helps, but your experience, business plan, and projected income are also taken into account.
Starting your veterinary hospital can feel daunting, but with the proper support and financing, it’s achievable. Programs like Bank of America’s Practice Solutions exist because they recognize how much veterinarians contribute to their communities, and they want to help you succeed.
If you’ve been dreaming of building a practice that reflects your vision and values, don’t let the fear of financing stop you.
A good loan program paired with a solid plan can make your dream hospital a reality — and give you the flexibility to grow (or even pay it off early) as your business thrives.