PRN Personal Loan For Veterinarians
Fair, affordable personal loans for veterinarians and trainees to use as needed. Fixed rates that vary with term – as low as 7.50% APR.¹
PRN Personal Loan For Veterinarians
Fair, affordable personal loans for veterinarian and trainees to use as needed. Fixed rates as low as 7.50% APR.¹
Learn more about PRN
personal loans for:
D4 Dental Students
Dental Residents & Graduate Students
Practicing Dentists
Learn more about PRN personal loans for:
V4 Veterinary Students
Veterinary Residents
Practicing Veterinarians
“Doctor’s need money wherever they are in their career. As a resident I felt this acutely as I needed funds to cover unexpected life costs and was forced to use credit cards or find a co-signer.
We deserve better, and that is why the PRN Personal Loan was created: to give medical students, residents, and attendings money, as needed.”
Michael Jerkins, MD, M.Ed.
Co-founder and President
What is a PRN Loan for Veterinarians?
A PRN Personal Loan gives you access to money when you need it most. Just as the name suggests, a PRN loan – pro re nata or “as needed” – is designed specifically to give veterinary students and doctors access to money as needed.
Why Would a Veterinarian Take out a PRN Personal Loan?
The cost of residency application, board examination fees, life events, and relocation – how can you expect to pay for everything?
Veterinarians deserve a better option than being forced to use credit cards or ask family or friends for help.
And whether you are a veterinary student or practicing veterinarian you can have a period of reduced payments.
How Can You Get PRN Personal Loan for Veterinarians?
Our digital application can take as little as 8 minutes to complete and you do not need a cosigner. Then you can get funds in as little as 24 hours and it’s your money as needed.
A PRN Personal loan gives you access to money when you need it most. Just as the name suggests, a PRN loan – pro re nata or “as needed” – is designed specifically to give medical students and doctors access to money as needed.
The cost of residency application, board examination fees, life events, and relocation – how can you expect to pay for everything?
Physicians deserve a better option than being forced to use credit cards or ask family or friends for help.
And whether your a medical student or attending you can have a period of reduced payments.
Our digital application can take as little as 8 minutes to complete and you do not need a cosigner. Then you can get funds in as little as 24 hours and it’s your money as needed.
4th Year Veterinary Students
- No payments for 1 year
- Reduced payments during training 2
- No cosigner required
- No minimum credit score
- No fees
- Soft credit check that won’t impact your credit score
Veterinary Residents & Graduate Students
- Reduced interest-only payments during years 1 & 2 of loan 3
- No cosigner required
- No minimum credit score
- No fees
- Soft credit check that won’t impact your credit score
Practicing Veterinarian
- Interest-only payments during first 6 months of loan4
- No cosigner required
- No fees
- Soft credit check that won’t impact your credit score
FAQs
U.S Citizens or Permanent residents who are:
- Enrolled full time in a U.S-based accredited dental school in their fourth year.
- Training in a U.S. veterinary residency or graduate school.
- Working as a practicing veterinarian or veterinary specialist with an active license in good standing.
Yes you can! You can even have multiple PRN Personal loans with Panacea. We set total borrower amounts based on your current status: fourth-year student, in-training, or in practice. You can borrow up to the maximum amount for your status. For students that’s $15,000, for trainees it’s $30,000, and for practicing veterinarians it’s $75,000.
For any number of reasons! Many use our PRN Personal loan for doctors to refinance toxic credit cards, pay for moving expenses, home renovations, or any unexpected life cost like healthcare bills! No one should borrow more than they need but doctors should have a healthier option of debt instead of depending on credit cards or borrowing from friends or family.
We don’t require a cosigner for a PRN personal loan for veterinarians because we know you are trustworthy and deserve to be treated like an adult. Traditional banks don’t understand that which is why they can ask for co-signers in order to offer their lowest rates.
The application process takes less than eight minutes online. And if you choose a Panacea Checking account, you can get your funds in as little as 24 hours.
- As a veterinary student, you don't have to make payments for one full year! Then you'll pay interest-only for up to 3 years.
- As a veterinary resident or graduate student, you'll only pay the interest on your loan for the first few years, depending on your term.
- As a practicing veterinarian or veterinary specialist, you'll only have to pay the interest for the first 6 months, then your full payments will start.
1. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.
2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.
3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.
4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.
5. Adverse Credit Event: accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.
PRN Loan Example Scenario Disclosure –
- V4 – 5 year term, 8.00% fixed APR, $15,000 loan – No monthly payments in year 1. Reduced monthly payments of $154.83 in years 2-3. Fixed monthly payments of $680.38 in years 4-5.
- V4 – 7 year term, 8.99% fixed APR, $15,000 loan – No monthly payments in year 1. Reduced monthly payments of $173.60 in years 2-3. Fixed monthly payments of $375.47 in years 4-7.
- In-Training/Resident/Fellow – 3 year term, 7.50% fixed APR, $30,000 loan – interest only monthly payments of $191.10 in years 1-2. Fixed monthly payments of $2,603.29 in year 3.
- In-Training/Resident/Fellow – 5 year term, 8.25% fixed APR, $30,000 loan – interest-only monthly payments of $210.21 in years 1-3. Fixed monthly payments of $1,360.56 in years 4-5.
- In-Training/Resident/Fellow – 7 year term, 9.25% fixed APR, $30,000 loan – interest-only monthly payments of $235.68 in years 1-4. Fixed monthly payments of $957.98 in years 5-7
- In-Practice/Attending – 3 year term, 7.50% fixed APR, $75,000 loan – interest-only monthly payments of $477.74 for first 6 months. Fixed monthly payments of $2,749.49 for remaining 30 months.
- In-Practice/Attending – 5 year term, 8.25% fixed APR, $75,000 loan – interest-only monthly payments of $525.51 for first 6 months. Fixed monthly payments of $1,667.68 for remaining 54 months.
- In-Practice/Attending – 7 year term, 9.25% fixed APR, $75,000 loan – interest-only monthly payments of $589.21 for first 6 months. Fixed monthly payments of $1,283.36 for remaining 78 months.
- 1. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.
- 2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.
- 3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.
- 4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.
- 5. Adverse Credit Event: accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.
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PRN Loan Example Scenario Disclosure -
D4 5 year term, 7.30% fixed APR, $15,000 loan - No monthly payments in year 1. Reduced monthly payments of $140.75 in years 2-3. Fixed monthly payments of $675.12 in years 4-5.
D4 7 year term, 8.04% fixed APR, $15,000 loan - No monthly payments in year 1. Reduced monthly payments of $154.83 in years 2-3. Fixed monthly payments of $368 in years 4-7.
Resident/Graduate Student 3 year term, 6.75% fixed APR, $30,000 loan - interest only monthly payments of $171.99 in years 1-2. Fixed monthly payments of $2,592.25 in year 3.
Resident/Graduate Student 5 year term, 7.50% fixed APR, $30,000 loan - interest-only monthly payments of $191.10 in years 1-3. Fixed monthly payments of $1,350.24 in years 4-5.
Resident/Graduate Student 7 year term, 8.25% fixed APR, $30,000 loan - interest-only monthly payments of $210.21 in years 1-4. Fixed monthly payments of $943.52 in years 5-7
Dentists and Dental Specialists 3 year term, 6.75% fixed APR, $75,000 loan - interest-only monthly payments of $429.97 for first 6 months. Fixed monthly payments of $2,724.03 for remaining 30 months.
Dentists and Dental Specialists 5 year term, 7.50% fixed APR, $75,000 loan - interest-only monthly payments of $477.74 for first 6 months. Fixed monthly payments of $1,640.99 for remaining 54 months.
Dentist and Dental Specialists 7 year term, 8.25% fixed APR, $75,000 loan - interest-only monthly payments of $525.51 for first 6 months. Fixed monthly payments of $1,245.74 for remaining 78 months.
