Planning a construction or renovation project is a great way to invest in the future of your veterinary practice. Working with the right lender can help ensure your construction project runs smoothly from beginning to end. From the initial meeting with your architect to opening the doors of your new practice, Live Oak’s experienced veterinary lending team will be there to guide you every step of the way.

When working with Live Oak Bank on a veterinary practice construction project, you will have a dedicated construction specialist who will take the guesswork out of the process. Your construction specialist will work directly with you, your architect and your contractor on adhering to the timeline of the project, providing financial guidance and all other construction-related items. We want you to be able to enjoy the construction of your new veterinary practice rather than stressing about the details. At the end of the day, we’ll act as your construction representative, so you can focus on what really matters: providing veterinary care to your patients.

There are no upfront costs or fees for our pre-approval and underwriting processes. Below are the three main steps you can expect after you’ve connected with one of our loan specialists to get your veterinary construction loan started.


After you contact us a loan officer will talk more with you about your expansion project, then send you an email containing application forms for you to fill out. Once we receive your completed application, you can expect to hear if you are pre-approved for the loan request within 24-48 business hours. During that time, our team will be conducting due diligence, including running a preliminary cash flow analysis as well as a credit pull. If you have been pre-approved, our veterinary team will then issue you a proposal letter containing information on rates, terms and all collateral requirements.


Once the proposal is signed and returned, your dedicated underwriter from our veterinary lending team will work alongside a Live Oak credit officer to obtain final approval for your loan. While technology streamlines our process, we know that there isn’t a one-size-fits-all approach for expansion projects. As a result, each and every credit decision is carefully considered by an experienced member of our team. On average, underwriting takes one to two weeks, and if approved, you can expect to receive a commitment letter outlining the details of your approval.


Once you have returned the signed commitment letter, your loan will then be assigned to a veterinary loan closing specialist and a construction loan specialist. Closing is usually completed within 60-90 days. Because our team has extensive knowledge of the veterinary industry, we are able to move the financing process along in a way that respects your construction project timelines.

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An overview of the process behind constructing a veterinary practice, along with considerations you should take into account along the way.

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