Veterinary Clinic Feasibility Study in the New York-Newark-Jersey City, NY-NJ Metro Area

Second nationally, mid-table locally

Veterinary clinics in the New York area rank 2 of 485 nationally, so SBA lent to more clinics in only one other area. At home, though, the class takes 18 of 39 in the New York mix, and a location quotient of 0.43x says clinics are well under their national share of local lending. The record counts 95 loans across FY2017 to FY2026, $108.5 million gross. Those facts fit together: the metro is huge, so even a small share makes a large count.

Clinic loans are big. The median is $643,000, 1.03x the national figure, bounded by quartile edges of $150,000 and $1.6 million. Of the 95 loans, 90 carry the 7(a) label and 5 the 504 label. The franchise share prints as 0.00%, since veterinary practices are rarely franchised. A purchase of an existing practice, with goodwill and equipment, explains much of the upper range.

Counties across two states

The listed counties are Suffolk NY with 17 loans, Morris NJ with 13, Monmouth NJ with 11, Hunterdon NJ with 7, Middlesex NJ with 6 and Nassau NY with 6. New Jersey counties dominate that list, with no county of New York City among the listed ones, which suggests clinic loans cluster in the suburbs. A study should say which side of the Hudson its client sits on, because licensing, lease practice and competition differ.

Holders, with dollar totals worth noticing

The heaviest dollar total sits with Live Oak Banking Company: $39.4 million over 20 loans. Firstrust Savings Bank shows $13.8 million across 7 loans. Others: TD Bank, National Association (11 loans, $999,100); Wells Fargo Bank National Association (9 loans, $6.5 million); and a small JPMorgan Chase Bank, National Association holding of $1.2 million across 7 loans. The first two hold big tickets, and the last two hold small ones. Those entries note holdings only; they are no statement of what any bank will do with a new request.

Vet clinic cancellations after approval have a floor of 15.8%. Not printed for New York veterinary clinics: a cancellation ceiling, a loss rate, some yearly figures. Nothing blank is a zero.

A clinic study should test the client base per veterinarian, the service mix, the equipment list, the lease or purchase of the building, staffing costs for technicians, and coverage on a loan near $643,000. Suffolk, Morris, Monmouth, Hunterdon, Middlesex and Nassau clinic loans are included through the project county's name in the July 2023 delineation, and an animal hospital with a county the list lacks would go uncounted, so 95 is a floor.