U.S. Bank launches startup loan product for dental, veterinary practices

U.S. Bank has introduced a new loan product for dentists and veterinarians launching first-time practices, expanding its healthcare business banking offerings beyond existing practice acquisitions and startups by current owners.

The loan product launched early this year and provides conventional lending to dental and veterinary startups that meet industry experience, production capability and credit parameters, according to a company statement.

"We are excited to bring this new opportunity to dentists and veterinarians who want to pursue their dream of building and operating their own practices," said Joe Persichetti, head of healthcare business banking at U.S. Bank.

The Minneapolis-based bank established its healthcare business banking group in 2023, targeting dental, veterinary and medical practices with up to $50 million in annual revenue. The division has hired more than 100 bankers and staff members providing services across all 50 states.

U.S. Bank serves as the parent company of U.S. Bank National Association, which ranks as the fifth-largest commercial bank in the United States. The bank has provided services to the healthcare industry for most of its 160-year history, working with hospital systems, insurers, medical equipment manufacturers and various practices.

In 2024, the bank acquired Salucro Healthcare Solutions LLC, which developed technology for the bank's MedEpay healthcare payments platform.

The bank noted that credit products are subject to normal credit approval and program guidelines, with some restrictions and fees potentially applying.

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