Healthcare practice financing in Vermont

Each value carries the Vermont authority that published it. Everything else is a summary of official Vermont material, and a specific structure still needs a lawyer's read. Verified

Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified

WILLISTON carries 1 of the Vermont approvals at $1.1 million apiece. A practice outside that market is valued on its own collections rather than on a neighbor's closing. Verified

Absent categories are ones CMS does not certify in Vermont. Where a dataset is still to be pulled, the table says so and nothing is inferred in its place. Directional

Chittenden leads Vermont with 2 certified providers, ahead of RUTLAND at 2. Where certification clusters, credit files move on precedent; away from the cluster they move on documents. Verified

The employer base in Vermont runs to 1,518 establishments, 268 of them physician and specialty offices. Physician and specialty offices account for the largest share of the base at 268. Verified

522 establishments sit in Chittenden, more than any other Vermont county on file. A dense county gives a buyer choice and a lender comparables; a sparse one gives neither, and the timeline stretches. Verified

Mean pay for registered nurses in Vermont is $97,460 across 7,410 people. Underwriters test a staffing forecast against the local mean before they credit the revenue it is supposed to produce. Verified

HRSA designates 355 shortages in Vermont, led by Orleans. For an owner, that is a staffing lever attached to a location decision rather than a discount on capital. Verified

• Dental offices: $1.4 million over 2 approvals in Vermont, $708,000 each, which sets what a comparable request can be documented against.
• Veterinary practices: $997,000 across 1 approvals, averaging $997,000. Above $997,000 the file needs collateral or trading history that most of those 1 Vermont borrowers did not have to show.
• Chiropractic offices: $127,500 average across 6 Vermont approvals worth $765,000, so a request in that range reads as routine rather than exceptional.
• Physician and specialty offices: $300,000 over 2 approvals in Vermont, $150,000 each, which sets what a comparable request can be documented against.
• Medical equipment suppliers: $150,000 over 1 approvals in Vermont, $150,000 each, which sets what a comparable request can be documented against.
• Physical, occupational, and speech therapy: $100,000 average across 1 Vermont approvals worth $100,000, so a request in that range reads as routine rather than exceptional.
• Med spa and personal care: $14,000 average across 2 Vermont approvals worth $28,000, so a request in that range reads as routine rather than exceptional.

• The Vermont record leans toward dental offices, which took $1.4 million across 2 approvals. Anything meaningfully larger than that average is underwritten as an outlier in Vermont, with the diligence that implies.
• Behind the leader, Vermont shows 1 approvals in veterinary practices and 6 in chiropractic offices. A funder with local paper in a field underwrites it on precedent; without precedent it underwrites on documents.
• 126 medical equipment suppliers operate under CMS certification in Vermont. That number decides whether growth capital here funds an acquisition of an existing license or a slower application, and the two look nothing alike on a cash-flow schedule.

• 15 SBA approvals to Vermont healthcare borrowers in FY2025¹
• $3.8 million approved, averaging $250,400 per loan¹
• 154 CMS-certified providers across 5 categories²

• Healthcare AR line and payroll funding
• Partner buy-in, buy-out, and refinance
• Commercial real estate, owner-occupied
• Expansion, relocation, and build-out
• Medical receivables factoring
• SBA 7(a) and 504
• Working capital term loan

• Vermont Board of Medical Practice, licensure and ownership questions for physicians
• Vermont Board of Dental Examiners, licensure and ownership questions for dentists
• No state loan repayment program, small-business lending program, or commercial financing disclosure regulator has been verified for Vermont from an official source

• All states covered
• Every financing program
• Wisconsin healthcare practice financing, for a side-by-side on rules and loan volume
• Arizona healthcare practice financing, the nearest comparable record to this one
• Connecticut healthcare practice financing, the nearest comparable record to this one
• Physical, occupational, and speech therapy, read on the terms that field is underwritten on
• Hair restoration, and where the collateral usually comes from
• Ketamine, TMS, and interventional psychiatry, and the revenue mix a funder checks first
• Hospice and palliative, and where the collateral usually comes from
• Behavioral and mental health group practices, with the capital events that field actually runs
• Primary care and family medicine, including what collections history is asked for

1. 1SBA 7(a) and 504 approvals, FY2025
2. 2CMS provider certification files
3. 3NPPES provider registry
4. 4County Business Patterns 2022
5. 5BLS Occupational Employment and Wage Statistics, OEWS 2025
6. 6HRSA health professional shortage area file
7. 7Vermont corporate practice rules
8. 8Vermont certificate of need
9. 9Vermont Board of Medical Practice
10. 10Vermont Board of Dental Examiners