^Equipment Finance for Veterinary Practices – Get Started Today

Hire purchase for practice equipment is typically used for purchases ranging from £10,000 to £250,000, such as imaging upgrades, surgical or dental improvements, or full equipment bundles. Lenders usually conduct a credit check and assess trading history and cashflow, alongside the equipment’s value and usable life. Decisions are often made within 1 to 5 working days for an initial view when the supplier quote and documentation are complete, with representative APRs commonly quoted across providers in a market range of about 6.9% to 16.9% depending on risk, deposit and term length.

Conditional sale is commonly offered through equipment dealers or brokers, where the dealer provides equipment details and pricing to support the application. It is often used for amounts from £5,000 to £200,000, including lab diagnostics, sterilisation equipment, or bundled upgrades for treatment rooms. Terms are frequently 18 to 60 months, depending on the upgrade and installation plan. Once underwriting information is submitted, decision times are often 1 to 4 working days, and representative APRs in the market are commonly seen around 7.5% to 18.9%, influenced by deposit, LTV and the equipment profile.

Refinance/upgrade asset finance is used when veterinary practices want to buy out or update already-funded or owned equipment. Typical facilities range from £15,000 to £300,000, depending on the buy-out amount and the value and condition of the equipment being financed. Terms often run 24 to 72 months to match the equipment’s expected use. Because lenders may need verification of current ownership and any existing security, decisions can take about 3 to 10 working days. Representative APRs are often within a similar SME asset finance band, commonly around 6.9% to 17.9% and driven by LTV, term length and credit profile.