Loans for pet care

Pet Care Loans

Information verified correct on May 25th, 2017

Do you need money to take care of pet-related expenses? Consider getting a pet care loan.

Ownership of pets is on the rise. Estimates suggest that around 71 million homes in the US have one or more pet – and that can be an expensive business.

Data from the American Pet Product Association (APPA) shows that Americans spent around $47.7 billion on pet care products and services in 2010. Of this, around $15.04 billion went towards veterinary care.

Technological advancements in the field of veterinary science make sophisticated treatments available easily, but these can come at prohibitive costs. If you’re facing a major vet bill, a pet care loan can help you make sure that your furry, winged or scaly friend gets the best medical help available.

Prosper Personal Loan

Prosper Personal Loans

You could borrow up to $35,000 for a variety of purposes, with rates starting from 5.99%.

  • Recommended Credit Score: 640 or higher
  • Minimum Loan Amount: $2,000
  • Maximum Loan Amount: $35,000
  • Loan Term: 3 or 5 years
  • Turnaround Time: 1-3 business days
  • Simple online application process
  • No prepayment penalties

    Loans you can apply for

    Rates last updated May 25th, 2017
    Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
    Minimum Credit Score Max. Loan Amount APR Requirements
    Prosper Personal Loan
    Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
    640 $35,000 From 5.99% (fixed) You are over 18 years of age, you are an American citizen or a permanent resident of the US, and you don’t have bad credit history. Go to site More
    Lending Club Personal Loan
    Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.
    660 $40,000 From 5.99% (fixed) You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income. Go to site More
    Upstart Personal Loans
    This newer service looks beyond your credit score to match you with accredited investors for low-rate personal loans.
    660 $50,000 From 7.16% (fixed) 18+. US citizen or permanent resident. 660 credit score or higher. Go to site More
    NetCredit Personal Loan
    You could borrow up to $10,000 and get an interest rate personalized to your credit score
    550 $10,000 From 34% (variable) Varies based upon state of application Go to site More
    SoFi Personal Loan Fixed Rate (with Autopay)
    Borrow up to $100,000 with a competitive APR and no fees.
    Good to excellent credit $100,000 From 5.49% (fixed) You must be a U.S. citizen or permanent resident 18 years or older. Go to site More
    OneMain Financial Personal Loans
    Get funded quickly with a term loan that works for your circumstances — even with bad or no credit.
    600 $25,000 From 12.99% (fixed) Eligibility for a loan is determined by your financial history, credit history, income and expenses, and whether or not you have ever filed for bankruptcy. More
    Avant — Personal Loan
    Check your rate — without affecting your credit score — before applying for this unsecured personal loan.
    600 $35,000 From 9.95% (fixed) You must have at least a fair credit score of 580 or more), provide proof of a steady income and be a US resident who is at least 18 years old. More

    Have we missed anything in the comparison table? Tell us

    • If the provider quotes a different rate to the one above please let us know

    Personal loan lender matching services

    These matching services connect consumers with personal loan lenders. It is important to note that these services do not make credit decisions and they are not lenders, loan brokers or agents for any lender or loan broker. They can help link you up with a lender that might be able to help you access a loan.

    Rates last updated May 25th, 2017
    Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
    Minimum Credit Score Max. Loan Amount APR Requirements
    LendingTree Personal Loan
    Apply with this online marketplace for loans to consolidate debt, buy a car, pay for a special occasion and more.
    639 $35,000 From 5.99% (variable) You must be an American citizen or a permanent resident of the US, You must be at least 18 years of age and You should have a regular source of income Go to site More
    PersonalLoans.com
    An online loan matching service that connects you with lenders for peer-to-peer, personal and bank loans for a variety of purposes.
    Varies by lender $35,000 From 5.99% (variable) You must be employed, 18+ with a bank account. Go to site More
    Zippyloan Personal Loans
    This broker matches applicants to lenders offering $100 to $15,000, often with flexible repayment options.
    $15,000 From (variable) Good credit, a steady income and manageable debt. Go to site More

    Have we missed anything in the comparison table? Tell us

    • If the provider quotes a different rate to the one above please let us know

    How does a pet care loan work?

    To apply for a pet care loan you have to meet some basic eligibility criteria. Upon your application’s approval the lender will present you with a loan contract. Once you accept the contract’s terms and conditions the lender will disburse the approved funds. Depending on the lender you choose and how you apply, you can collect cash in person or have it transferred to your bank account directly.

    After you get the money you have to start making periodical payments as per a predetermined payment plan.

    The main features of pet care loans

    Pay attention to these aspects when you’re comparing pet care loans:

    • Interest rate. The annual percentage rate (APR) you get depends on multiple factors including your credit score, the amount you wish to borrow and your ability to repay. The lender you choose also makes a difference, so make sure you pay attention to this aspect.
    • Loan amount and term. If you end up borrowing more than you need you’ll be paying extra interest. This can be a problem if the minimum amount offered by a lender is more than the amount you need. The maximum amount offered can be a factor if you’re in for expensive treatment. Loan terms can also vary. While a shorter loan term results in higher payments, it can lead to interest savings.
    • Turnaround time. If you need money in a hurry, limit your search to lenders who provide quick turnaround times. While some lenders can give you access to required funds on the day you apply, others can take five to seven business days.
    • Purpose of loan. Some lenders place restrictions on how you use proceeds from the loan, only allowing the funds to be used for emergencies, diagnostics, surgical procedures and care of chronic pet diseases and conditions. With others, you can use the money for any pet-related expense such as annual check-ups, vaccinations, microchipping and pet food.
    What are the main costs associated with caring for a pet?

    Pets can be expensive. Here are some of the main costs:

    • Adoption. While a pound puppy may come for free, pedigree animals can cost $500 or more..
    • Food. You’ll be spending between $120 to $500 on food every year, depending on the pet you have and the food you choose.
    • Routine care. Expenses in this area include money you spend on training, grooming, collars and leashes. These combined costs can cross the $500 mark.
    • Routine medical care. Veterinary exams can set you back $45 to $200 in the first year, with costs dropping from the second year. Spaying and neutering can cost $35 to $200. Flea and tick prevention costs can vary from $200 to $500 per year. Vaccinations cost $60 to $150 per year. If you’re getting health insurance for your pet, it should cost around $200 annually.
    • Medical treatments. Costs of emergency veterinary care can top $2,000, depending on the condition. Treating feline fibrosarcoma can cost more than $750. Canine cataract treatments can cost over $1,200. Some life-saving surgeries cost in excess of $15,000.

    Is there anything you should avoid with pet financing?

    Avoid applying for multiple loans at the same time. Your applications for credit will be mentioned on your credit report, which can have an adverse effect on your ability to get credit in the future.

    If you think you won’t be able to repay the loan on time, you may want to avoid taking it in the first place. If you don’t repay the loan in a timely manner, it will have a negative impact on your creditworthiness. In such a scenario, you may want to consider getting a loan from a friend or family member.

    Frequently asked questions

    You can complete the process in five to 10 minutes, provided you have all the required information close at hand.

    This depends on the lender, so you should check before applying.

    You’ll have to provide a desired loan amount along with your contact details and information about your employment and income.

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    US Personal Loans Offers

    Learn about our information service
    Lending Club Personal Loan

    Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.

    Prosper Personal Loan

    Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.

    Upstart Personal Loans

    This newer service looks beyond your credit score to match you with accredited investors for low-rate personal loans.

    PersonalLoans.com

    An online loan matching service that connects you with lenders for peer-to-peer, personal and bank loans for a variety of purposes.

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