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Healthcare and Hospital Property Loans
Commercial Real Estate Loans offers property loans for hospitals, clinics, surgical centers, and outpatient facilities. Bank loans generally start at $500,000, while SBA loans begin at $30,000, and CMBS financing at $2 million.
Private healthcare facilities fill an essential gap in the American medical system. They often serve patients whose needs are too great for a private medical practice, but not severe enough to require hospitalization.
Whether you're a small surgical clinic looking to refinance your property, or a large outpatient center looking to acquire a new building, Commercial Real Estate Loans has the know-how to help you get the financing you need.
Healthcare Commercial Property Loan Terms
While specific loan terms vary based on the individual customer, in general, our healthcare facility loan terms include:
Loan Size: $500,000+
Loan Purpose: Loan can be used for property acquisition or refinancing (no business only-financing allowed)
Loan Term: 3, 5, 7 and 10-year fixed-rate terms
Amortization: 15, 20, 25 and 30-year options
Leverage: 80% LTV allowance (subordinate debt allowed)
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 7(a) loans for healthcare facilities 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 Healthcare Facilities
For many healthcare facility owners and operators, an SBA 7(a) loan can be a great choice. Unlike traditional healthcare facility financing, SBA 7(a) loans and their financial sibling, SBA 504 loans, can be used to finance heavy equipment, not just real estate. Plus, SBA 7(a) loans can also fund working capital, an essential need for many healthcare facilities. Despite their benefits, SBA loans do have relatively strict credit and debt requirements. So it's important to keep that in mind before applying for this type of financing. The basic terms for SBA 7a financing include:
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