SBA Offering 6 Months Of No Payments AND No Guarantee FeesLearn More
An SBA 7a Loan is a great tool for a business to use when considering purchasing, building or renovating owner-occupied commercial real estate. The SBA 7a Loan can also be used for non-real estate practice only transactions, such as start-up, acquisition or expansion. With loan limits ranging from $350K to $5 Million, many practice loan requests will fall into this range and 1st Med Financial is here to help.
In order for your practice to meet the eligibility requirements for a SBA 7a Loan, it must be for-profit and located in the United States with a net worth less than $15 Million and/or net income after taxes of less than $5 Million. If you are using the fund for real estate, you must occupy or plan to occupy 51% of the real estate as SBA funds are not for investment properties.
SBA Guarantee Fee is paid directly to U.S. Small Business Administration and finance into the loan. Amount varies based on loan guarantee amount. Other customary fees also apply
All 7a loans are fully amortized and are assumable.
At 1st Med Financial, we pride ourselves on guiding each client through the often challenging and confusing process of Dental Practice Financing. Our Dental Practice Loan Specialists have over 35 years of combined lending experience and will work with you to evaluate the financial feasibility of the opportunity you are considering.
To speak with one of our practice financing specialists and learn more about the Practice Equipment Loan program, call us TOLL FREE at 800-318-7125 or click here to get started online.
“First, let me take a minute to say Thank You! The time and effort you and your team took to get me the financing I needed for my buy-out, acquisition and consolidation was, to say the least, beyond awesome. I was treated by everyone as if we were long lost best friends.
Through the entire process, it felt as though getting this done was a personal task....not a job. Embarrassingly enough, I had come to you once, but decided to go to my bank "because they knew me". They were terrible, to put it nicely.
Bottom line, I'm where I am today with my practice because of you.”