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Alexandria Veterinary Clinic
A much-needed expansion better serves clients large and small.
Certified Development Company:
Minnesota Business Finance Corporation
Location:
Alexandria, Minn.
Clients:
Drs. Mark Christenson, Tom Czech, William Luckemeyer, Florian Lederman, Kent Nelson, John Whitten and Jeffrey Winkelman
Case Study:
$580,000 SBA 504 loan on a $1.45 million land-acquisition, construction project
Third-Party Lenders:
Bremer Bank; Alexandria, Minn.
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Serving an eight-county area in central Minnesota, the Alexandria Veterinary Clinic (AVC) was originally established in 1917. AVC offers a wide range of services, including equine care, large-animal medicine production, preventative and senior care, orthopedics, cardiology, dermatology, dentistry and radiology. It was one of the first veterinary clinics in Minnesota to provide laser surgery. AVC has 20 staff, including seven veterinary doctors who are co-owners.
Following the recent merger of a dairy veterinary practice, AVC was able to expand both its small- and large-animal markets. A larger facility, centralizing management and administration as well as providing more space for services, was required. The answer was a 7,000-square-foot office, which AVC was able to finance with a $580,000 SBA 504 loan through Minnesota Business Finance Corporation.
AVC only had to put up 10 percent of the capital for the $1.45 million project. “We were able to lock a long-term loan at a low interest rate, which allowed us to maximize our financing to keep pace with anticipated growth,” said AVC co-owner Mark Christenson. The new pet hospital is equipped to handle acute care and surgery. The new facility is designed to accommodate four full-time doctors and AVC’s needs for the next 15 years.
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