SBA 504 Loans for Medical Professionals
Medical professionals provide a great service, but sometimes, that great service can come at an even greater cost. SBA 504 loans can be of great value to optometrists, dentists, pharmacists, veterinarians and the like. Learn more about what this type of funding can do to help you take proper care of not only your patients, but fulfill your practice goals at the same time.
Secure Your Commercial Site
While you might have the skills necessary to practice medicine, you might not have a proper site in which to practice. To better ensure you don’t waste time and can start taking care of your patients, consider an SBA 504 loan rather than a traditional loan, something for which you might not qualify. No matter what specific branch of medicine you practice, it’s an indisputable fact that you’ll need a well-equipped facility in which to work, one that’s in a convenient location for your employees as well as those in need of your medical expertise.
If you’ve already successfully opened the doors of your business, you might be in need of a way to pay for improvements. Because medicine is a field that is constantly evolving, the equipment you have now might not be the best you can use to properly tend to the medical needs of your patients. What’s more is your current facilities might be in need of an update for a more modern look, which is sure to put your patients at ease when it comes to deciding whether you’re the right medical expert for them.
The Fine Details
Because there are always qualifications to be aware of, you’ll want to understand what’s required of you as an applicant before you apply for an SBA loan. One of the first things you should know is that you want your credit score to be as healthy as possible before you apply for a loan. In regards to your down payment, try to put down more than the minimum if at all possible to reduce the amount you have to borrow as well as your interest payments. Finally, you’ll need to occupy at least half of the property in which you seek to set up shop.
You’ll more than likely be approved in about 24 hours, meaning you can get started on the next stage of your practice sooner rather than later. Know that your loan will come with amortized and full terms.
Sit down with an SBA 504 representative today to learn more about medical loans. See how quick and easy it can be to build a better practice.