“The rate of funding SBA loans to medical and healthcare facilities has remained relatively stable over the past five years, and SBA 504 loans in these industries are a healthy portion of our annual funding,” said Ann Santiago, senior vice president of development for TMC Financing. TMC Financing specializes in commercial real estate funding for small businesses. “This is a healthy market for independent healthcare facilities and our clients can take advantage of low down payment and low interest rates to finance the expansion of their businesses.”
Among TMC Financing’s recent loans to Clark County healthcare facilities are those for an urgent care facility, a medical surgery center, a pediatrics practice, a rehabilitation center and a pet hospital. Small businesses like these use SBA 504 loans to help finance the expansion of offices and service centers.
London Medical Management was among the companies that obtained an SBA 504 loan from TMC Financing this year, for a $1.15 million project to build its U.S. headquarters and the first urgent care facility in Southern Highlands. Its Southern Highlands location is the first of five urgent care facilities planned for Southern Nevada.
St. Rose Pediatrics’ SBA 504 loan helped the pediatric medical practice purchase an 8,430 square foot office location in Henderson. The $1.96 million project allowed the practice to retain 34 employees and hire two additional staff members.
Another expanding healthcare business that utilized an SBA 504 loan is Dynamic Pain Rehabilitation. The practice utilized TMC Financing to finance a $1.45 million project for an 8,612 square foot facility in Green Valley. “Dynamic Pain Rehabilitation wanted to expand to a bigger office space that would improve the flow of business and allow our practice to offer more services to our patients,” said Elin Imas of Dynamic Pain Rehabilitation. “The SBA 504 program helped us come up with the necessary funds to purchase an office building that allowed our practice to expand and move into a new and better location.”
Monos Health Institute purchased a $2.5 million property near Southern Hills Hospital and Medical Center with the help of an SBA 504 loan. Monos Health Institute is the first comprehensive, multi-disciplinary and integrated pain treatment center in Nevada. “With the help of 504 financing, the business will have fixed costs for 20 years on the new property at a below-market interest rate,” said Santiago. The SBA 504 interest rate for this month is 4.95 percent, fully fixed for 20 years.
Even medical facilities serving four-legged patients have used SBA loans to expand in Clark County. This year Bonanza Cat Hospital moved into a 6,883 square foot facility in Northwest Las Vegas to support its expanding practice. “A 504 loan is perfect for a facility like this, because it requires only 10 percent down which allows you to keep the cash in the business and continue operations with no downtime,” said Santiago.
“With 83 of the states 104 SBA 504 loans for medical facilities in Clark County since 2009, it is clear the area is a hub for new building and a growing medical community in the area,” said Santiago. “If you own a small healthcare business and are interested in owning your own building or expanding, this type of loan may be a good fit for you.”
About SBA 504 Loans
The U. S. Small Business Administration (SBA) 504 Program offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital, which can be used to further grow the business and create new jobs. The typical loan structure for an SBA 504 loan comes from a first mortgage with a conventional lender and a second mortgage from a certified development company (CDC).
About TMC Financing
TMC Financing provides Small Business Administration (SBA) 504 real estate financing and is the leading Certified Development Company (CDC) in Northern California and Southern Nevada. During the past 30 years, TMC has provided over $7.5 billion in SBA 504 financing for more than 4,500 businesses. This financing has resulted in the creation of over 33,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade. TMC's experienced team works directly with borrowers, lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower's credit capacity.