Find out how Vector Finance supported an existing veterinary customer in Berkshire in opening their second practice with a bespoke hire purchase finance package

Background

After trading successfully since 2018 in Wokingham, Mulberry House Vets opened a second practice in Binfield.

Requirements

The second practice needed state of the art equipment to ensure their skilled surgeons could perform advanced and expansive procedures. Purchasing a CT scanner enables the practice to identify problems with customer’s pets quickly and accurately, but this type of product is very expensive. The practice also wanted a comfortable environment for staff and customers, which could be achieved through an advanced air conditioning and ventilation system configured throughout the premises.

Outcome

We recommended a hire purchase agreement to Mulberry House Vets, which would allow them to make re-payments over a fixed term at a fixed price. Their cashflow could also be utilised for other business activities rather than a high outlay for assets eligible for equipment finance.