Equine Veterinary Practice Finance in Newmarket
£480,000 · 10 years · 6.60% fixed. An equine vet in Newmarket - the centre of the UK thoroughbred racing industry - was setting up an independent equine veterinary practice.
The Client
Equine vet in Newmarket
The Challenge
An equine vet in Newmarket - the centre of the UK thoroughbred racing industry - was setting up an independent equine veterinary practice. The capital requirement covered a purpose-built consultation and treatment facility, specialist diagnostic equipment (including an endoscope and digital X-ray system), and working capital for the first year. Standard professional practice lenders rarely have equine vet expertise.
Our Solution
Doulton identified a lender with experience in equine veterinary practice finance, understanding the Newmarket racing ecosystem and the strength of the client base available to a well-positioned equine practice in that location. Equipment finance and practice finance were combined into a single facility.
The Outcome
Practice established and operational. Within eighteen months, the practice had secured contracts with three major racing yards accounting for 40% of revenue. Turnover in year two exceeded the business plan projection by 22%. Key highlights: Equine vet practice finance - Newmarket location understood; Racing yard contracts - 40% of revenue from 3 yards by month 18; Turnover exceeded business plan by 22% in year two.