The SBA Loan for Physicians Building, Renovating or Expanding a Medical Practice
The SBA 504 loan program is an outstanding choice for Physicians who need to build a new office or renovate or expand an existing medical or surgical facility.
What makes the 504 an ideal loan for Doctors?
- It’s a commercial loan that is actually available during the credit crisis.
- You can include the financing of expensive medical equipment with a useful life of 10 or more years.
- If you build in some energy efficiency you can finance up to $8,000,000 with a 10% equity injection.
- It is long term fully amortized financing with no balloons, calls, re-qualifying or refinancing later.
- It allows for 90% loan to cost financing – i.e. you can finance improvements, closing and soft costs.
- The rates and fees are very low. (At or below 6% as of March 2009).
- The application/approval process is not at all like other SBA loan programs that have historically been difficult.
More SBA 504 Loan info: 504 Loans
Summary of SBA 504 Renewable Energy Benefits
Please contact us at 1-800-414-5285 to find out how our expertise with the SBA 504 can help your business.