The eligibility requirements for SBA 504 loans for dental labs are the same as for any other business. To qualify, you must be a for-profit business, have a tangible net worth of less than $15 million, and have an average net income of less than $5 million over the past two years. Additionally, you must be able to demonstrate that you have the ability to repay the loan.

You must also use the loan for a qualifying purpose, such as purchasing land, developing and improving it, building the lab and support system necessary, and even purchasing the equipment you need, such as computer-aided design machines to produce crowns, dentures, partials, and more. You can also pay for additional costs, such as office equipment and furnishings, and soft costs associated with your project.

For more information, please visit https://sba504.loans/sba-504-loan-eligibility/.

SBA 504 loans can be used to purchase land, develop and improve it, build the lab and support system necessary, and even purchase the equipment you need, such as computer-aided design machines to produce crowns, dentures, partials, and more. You can also pay for additional costs, such as office equipment and furnishings, and soft costs associated with your project. Additionally, if you want to reduce your facility’s impact on the environment, SBA 504 loans can help, too. In fact, you can borrow a significant amount more with go-green projects than with standard business projects. (Source)

The main drawback of SBA 504 loans for dental labs is that they cannot be used for working capital. If you need supplemental cash flow, then a 7(a) loan might be worth considering in conjunction with a 504 loan.

For more information, please see SBA 504 Loans for Dental Labs and SBA 504 Loans for Dental Offices.

The length of time required for an SBA 504 loan to be approved for a dental lab can vary drastically, but averages between 60 and 90 days. With that being said, it may take up to six months in some situations. There is no hard and fast rule here, and each situation will be unique.

Factors that go into determining the length of time to loan approval include:

• Your ability to gather all required information
• Your ability to satisfy all lender requirements for information and proof of income
• SBA approval (up to 7 days)
• Due diligence (2 to 3 weeks)
• Closing (up to 14 days)

We’re here to help you get the commercial financing you need. Simply fill out the form below for a risk-free consultation and a free SBA loan quote!

When applying for a 504 loan, you’ll need to provide the CDC and your lender with a very wide range of documentation. The most commonly required documents include:

• Business tax returns for the previous three years
• Personal tax returns for the previous three years
• Personal history statement
• Personal financial statement
• Personal budget analysis
• Business financial statements for the previous three years
• Business debt schedule
• Revenue and expenses breakdown for the past year (month to month)
• Occupancy percentage and average daily rate information for the previous year (month to month)
• Occupancy percentage and average daily rate for the area
• Your hotel projection worksheet
• Interim financial statement (signed and dated, and including balance sheet and income statement dated within the previous two months)
• Accounts receivable aging (dated within the previous two months)
• Accounts payable aging (dated within the previous two months)
• Complete business plan
• One year of financial projections with assumptions
• Purchase agreement
• Written estimate from a contractor if the loan is for construction
• Letter of intent from the franchisor and a FUOC and franchise agreement (if applicable)
• Gift letter (if applicable)
• Previous government financing schedule
• Environmental impact questionnaire
• Application certification an authorization
• Documents pertaining to the ownership of other businesses and their finances (if applicable)
• Copy of loan agreement and SBA authorization if you have another SBA loan
• Copy of the original debt documentation (if refinancing)
• Your original purchase agreement, including settlement sheet (if refinancing)

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