Veterinary Clinic Feasibility Study in Iowa

Iowa clinics: mid-sized loans, a split program

Iowa's veterinary clinic record is 27 SBA loans and $18.5 million between FY2017 and FY2026. As a state it sits at 39 of 53 for the class, and clinics stand 13 of 39 among Iowa asset classes, with a location quotient of 1.18x that puts them slightly above their national share. The median loan is $441,000, which is 0.71x of the median clinics draw nationally, and the program split is 16 loans were SBA 7(a) and 11 were SBA 504. No loan is flagged as a franchise.

Loan band and geography

The middle half of Iowa clinic loans runs from $282,000 to $725,500. Polk County has 6 loans, Marion 3, and Dubuque, Fayette, Scott and Woodbury 2 each, with single loans in Black Hawk, Boone, Cass and Humboldt. No lender is singled out for this cell, so no institution is discussed here.

Years

FY2021 stands out with 10 loans worth $3.8 million, while FY2017 and FY2023 recorded none. FY2025 brought 3 loans for $4.5 million, the largest dollar year. With so few loans, a single closing moves a year. FY2018 recorded 4 loans worth $1.6 million, FY2024 recorded 4 loans for $2.5 million, and FY2026, the last year in the file, recorded 2 loans and $3.1 million.

Floors that are not published

Iowa clinic cohorts are too small for cancellation and charge-off rates to be shown. Loan Analytics withholds both, and withheld does not mean zero. Any loss floor for this cell is therefore missing, and a lender is left with the applicant's own history.

Testing an Iowa clinic

The study should separate the type of practice, companion animal or mixed or large animal, because the client base, the equipment and the facility differ. It should test the number of pet-owning households and farms within reach, the competition from existing practices, and the recruitment of veterinarians. Where the project buys a building, the budget has to show the combined payment on the bank loan and any SBA 504 second loan, with coverage at a patient volume the practice can plausibly reach, and the appraisal should divide value between property and goodwill.