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Medical Office Commerical Loans
Commercial real estate loans for medical offices typically start at $500,000 and offer up to 90% LTV, while SBA loans start at $30,000 and offer amortizations of up to 25 years.
Starting a new medical office (or refinancing a current one) can be one of the most important financial decisions a doctor makes in their entire career. So, whether you're just a few years out of your residency, or a you're a doctor with decades of experience, you want a trusted financial partner who can help you get the financing you need to expand your practice.
In addition to traditional medical office loans for physicians, we also offer financing solutions for dentists, podiatrists, optometrists, and veterinarians. No matter what part of the healthcare industry you're in, at Commercial Real Estate Loans, we have the know-how to help doctors at all stages of their careers build a practice they can be proud of.
Medical Office Commercial Loan Terms
While specific loan terms can vary based on the individual customer, in general, our medical office loan terms include:
Loan Size: $500,000+
Loan Purpose: Loan can be used for property acquisition or refinancing
Loan Term: 3, 5, 7 and 10-year fixed-rate terms
Amortization: 15, 20, 25 and 30-year options
Leverage: 75%- 90% LTV allowance
DSCR: 1.30 minimum DSCR
Credit Score Requirement: 660 minimum
Loan Size: $30,000 - $5 million (some exceptions for smaller loans may be granted)
Loan Purpose: Loan can be used for financing commercial real estate, equipment, and working capital
Loan Term:
Real Estate: Up to 25 years
Equipment: Up to 10 years
Working Capital: Up to 10 years
Credit Score Requirement: 660 minimum
Collateral: Additional collateral is often required
Documentation: Documentation for SBA 7a loans for medical practices is extensive, and includes:
Year-to-date balance sheet
Business tax returns (for the last 2 years)
Business licenses
Personal tax returns and resumes for 20%+ owners
Projected financial statements (1-3 years)
SBA Loans for Medical Offices
For many doctors looking to start a practice, an SBA 7(a) loan could be a fantastic option. In addition to their other benefits, SBA 7a loans can be a great way for experienced doctors to buy out a partner or acquire a competitor's medical practice. However, it's important to keep in mind that these loans may not be available to doctors who don't have excellent credit, or doctors with large amounts of student debt, which could disqualify many younger doctors still carrying debt from medical school. The basic terms for SBA 7a financing include:
Get Your Free Medical Office Property Loan Quote Today
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