SBA 504 Loans for Medical Centers
Can Medical Centers Benefit from SBA 504 Loans?
More and more, medical centers are appearing where once consumers only had access to individual private practices. Medical centers, whether we’re talking about multi-specialty clinics, urgent care facilities, or something else, offer patients the means to find a wide range of treatments under one roof, without having to go to a hospital. The industry is expected to grow by 5.4% in coming years, with $28 billion in revenue in 2018 alone.
With an SBA 504 loan, medical center developers can pay for the land on which the facility will stand, as well as important improvements, such as drainage, paving, parking areas and more. They can also use the funds to build the facility itself, and to invest in necessary equipment. This applies to everything from CT machines to workstations for receptionists. Medical centers seeking to go green can also use 504 loans to reduce their demand on the power grid.
Depending on your needs, though, you may need to also supplement with another loan, such as an SBA 7(a) loan.
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!