SBA 7a Loan Program
In certain situations, this SBA 7a loan product is still a very viable and practical product. Major new changes to the program are now in effect due to the Small Business Jobs Act (Bill 5297). For example, the new maximum loan amount is now $5 million, increased from $2 million. This is a permanent change that has been well received and already utilized.
With some of the most flexible underwriting guidelines, debt coverage ratios of 1:1 are still allowed. Most commercial mortgages, in contrast, require minimum debt coverage ratios of a 1.35. So, with a 7a program, your practice can have lower cash flow and still get approved and closed.
The SBA 7a loan program is Ideal for the following:
- Practice & Real Estate Acquisition
- Practice & Building Expansion
- Refinancing & Debt Consolidation
- Leasehold Expansion & Improvements
- New Practice Start-Up
Benefits & Program Highlights:
- 24-hour pre-approval
- Exclusive 25 year Fixed Rate terms
- Available nationwide in all 50 states
- Minimum credit scores preferred at 650 (and lower with reasonable explanation)
- No prepayment penalties with selected plans and terms
- No upfront fees or points with selected plans
- Low down payments and up to 99% financing available
- Loan amounts up to $5 Million
- Practice must occupy 51% or more of the property
- Fully amortized and assumable
- Low fixed and variable interest rates starting at prime +1.25% (currently 4.5%)
With our extensive experience and resources, USMF is the only financing source in the healthcare industry that guarantees smarter financing and business solutions. No other bank or lender offers this commitment. Consider USMF your trusted personal financing consultant.
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