Modernizing veterinary practices through smart financing

This episode is sponsored by KLC Financial.

On this episode of The Vet Blast Podcast presented by dvm360, Caitlin McCafferty, content producer for dvm360 and guest host for this episode, sits down with Erin Wondra, a sales representative with KLC Financial, to explore how equipment financing and leasing can help veterinary practices grow without straining their cash flow. They discuss common misconceptions about financing, such as the myth that only struggling practices use it, and why some of the most well-run clinics actively choose to use financing as a strategic tool for managing revenue and cash flow.

The conversation also covers the long-term thinking behind equipment investment, from modernizing diagnostics and expanding in-house services to succession planning and building practice value. Wondra walks through how a consultative, step-by-step approach to financing can help overwhelmed practice owners prioritize what matters most without having to do it all at once.

Below is a partial transcript, edited lightly for clarity.

Caitlin McCafferty: How can financing help practice owners make strategic upgrades without putting too much pressure on cash flow?

Erin Wondra: A lot of practice owners want to wait until they've got cash on hand to purchase equipment, but when you do that, you are eliminating a ton of revenue that you could be generating. You can finance or lease a piece of equipment that's going to upgrade your technology, create more efficiency, or add new services that your practice isn't currently offering. And by financing your monthly payment, [that] can put you in a very comfortable position to be generating that additional revenue [and] offering services that you're not currently [offering]. You might as well invest in that now rather than waiting…until you have the cash to purchase it outright.

McCafferty: Is that a big myth about having to wait until you have enough cash to do it, or is that something that people just assume, or where does that kind of come from? Do you have any idea?

Wondra: I think so. A myth is a great question. I do think that a lot of times, practices feel like, “If I don't have the cash for it, I shouldn't buy it,” which is not necessarily true, because if that new equipment or technology is going to enhance [or] modernize your practice, or allow you to offer services that you're currently referring elsewhere, you could be generating all of that revenue in house or creating more efficiency that saves you in cost.

So by financing or leasing, your monthly payment could be very comfortable for you, and you're going to generate far more, or save your savings on efficiency and technology far surpass[ing] what you're spending in a monthly payment.