SBA 504 Loans for Healthcare and Medical Businesses
Planning for the continued health of your business as it grows is as critical as planning for the health of your patients as they grow older. At Mercantile Capital Corporation we believe that for many business owners, a natural step in planning for continued success is the decision to purchase the commercial real estate you will need as your business continues to expand. With the SBA 504 loan, healthcare and medical practioneers in many cases may only need to contribute a minimum of 10% of the purchase price or total project costs, thereby preserving liquid assets for future working capital needs.
Purchasing or building your own medical office or healthcare facility may also be a smart retirement strategy. We have found that as retirement approaches, many medical practioneers will exit their practice, but are still able to generate ongoing income by retaining ownership in the real estate and leasing it back to the practice.
15 Years of Experience
Since starting our own small business 15 years ago we have helped countless medical practioneers and owners of healthcare businesses achieve their goals of owning their own commercial real estate. We’ve financed properties for dentists, oral and maxillofacial surgeons, ophthalmologists, family practice physicians, chiropractors, chronic pain and illness centers, internal medicine practices, pediatricians, assisted living facilities, surgical centers, and more.
Build Your New Practice to Your Specifications
One of the best benefits of the SBA 504 loan is that business owners are allowed to finance constructions costs, closing costs, and soft costs (including architectural and engineering fees, permit and impact fees, and interest during construction). This benefit greatly reduces the business owner’s cash outlay when compared with conventional financing. But perhaps more importantly, we recognize that being able to customize your facility to your specific needs, either by constructing a new ground up building or renovating an existing property, is especially critical to medical practioneers and healthcare business owners. As the majority of our 504 loans have a construction component, we have the experience and expertise to help you navigate through this process.