I THOUGHT I had a really good idea to sell to Vets, but this happened…

I'm a major animal lover, and it breaks my heart how I see these posts on social media often of people trying to crowd raise money to fund a life saving surgery for their dog.

Tons of Pets don't get the treatment and procedures they need because people can't afford it.

Vets do have finance companies that they partner with, but a lot of people still opt not to do it because they can't afford another monthly payment, or they just get denied for the loan.

MY IDEA was to start a Pet Procedure Loan company but then offer assistance in paying their loan

What do I mean by that…

Well I run a pretty big animal rescue non profit, we have a pretty substantial amount of donation money coming in. I could easily start a new program within our non profit specifically for this and divert funds to either completely pay off peoples loans, kinda like a Pet medical loan forgivness program, or cover some of their payments, or randomly allocate chunks of money towards peoples loans.

I'd have to come up with a system for dispersing the funds and prioritizing loans to contribute to.

So my loan program would be the only one where if people apply for it to save their pet, they'll be getting assistance in paying it off.

Some people might just get their loan paid off in full right after they get it, others may get payments covered, others may get it paid down in chunks, again i'd have to figure that part out.

For the actual loans, i'd just find an existing loan company to partner with.

Why wouldn't I just pay for peoples procedure costs directly instead of making them get a loan?

Because that just gets abused, you get completely flooded with applications and most people can actually afford it, they'd rather just get it for free. When they apply for a loan, they're taking responsibility, they're getting their credit hit and going through the process, they're only going to do that if they actually NEED assistance.

Plus i'd make a commish on the loans.

Anyways, I posted about this idea in some Veterinary subreddits and got completely torn apart.

I guess there's like 2 really popular pet procedure finance companies that dominate this space, almost every Vet uses these 2 companies and they're just stuck in their ways.

I'd have to figure out how to break past that and become the new go-to finance platform for Vets. Seems like it would be really hard to get them to drop the companies they're already using. Maybe they get kickbacks, who knows.