A Smarter SBA 7a Loan Program
Our SBA 7(a) loan program is an extremely viable and practical option for dental, veterinary, medical, ophthalmic, pharmacy, and healthcare practices, depending on your specific situation and project. The Small Business Jobs Act (Bill 5297) has introduced significant changes to the program. Notably, the maximum loan amount has increased from $2 million to $5 million.
One of the key advantages of the 7(a) program is its flexible underwriting guidelines. It allows for debt coverage ratios of 1:1, whereas most commercial mortgages typically require a minimum debt coverage ratio of 1.35. Therefore, even with lower cash flow, your practice can still be approved and closed under the 7(a) program.
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 for Dentists, Veterinarians, Physicians, Medical Specialists, Optometrists, Ophthalmologists, Pharmacists and Healthcare Centers are as follows:
- 24-hour pre-approval and qualification
- Exclusive 25yr Fixed Rate terms
- Available nationwide in all 50 states
- Minimum credit scores preferred at 650 (and lower with a reasonable explanation)
- No prepayment penalties with selected plans and terms
- No upfront fees or points with selected plans
- Low down payments and up to 100% 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 vast experience and abundant resources, USMF stands as the exclusive financial resource within the healthcare industry that ensures a more intelligent financing solution. No other bank or lending institution can match this level of commitment. You can rely on USMF as your trusted personal financing consultant.