Medical Professional Office Condo Loans
CapitalSource Small Business Lending’s office condo loans are perfectly tailored to the needs of the medical professional. We’ll minimize your up front investment, so you can put your funds toward working capital to grow your business, and close your loan in record time so you can begin enjoying your new space sooner. We can help you secure the funding you need to own your office, so you can build your practice with the benefits of ownership.
Our medical professional loans are available for the purchase and construction of office condominiums. Most are made under the SBA 7(a) program, some are made under the SBA 504 program. Talk to your Business Development Officer to determine which program is right for your business.
All medical professional loan applicants must meet the program requirements, which includes completion of medical school. The program is open to all doctors with an "M.D." designation, as well as dentists, veterinarians, and pharmacists.
Loan Details
- Commercial real estate purchase and construction of medical professional office, machinery and equipment, fixtures, furniture, inventory and business assets.
- Working capital.
- SBA 7(a) Up to $2,000,000
- SBA 504 Up to $4,000,000
- Commitment letter typically within 3 days of completed application!
- Closing within 45–60 days of signed commitment letter.
- Up to 130%.
- Competitive variable rate based on the Wall Street Journal Prime rate.
- Up to 25 years based on the loan purpose.
- No balloons or calls—fully amortizing over the life of the loan.
- Prepayment penalties will apply.
- No Loan Origination Fee on SBA 7(a) loans.
- One time SBA Loan Guarantee Fee based on loan size.
- Good faith deposit to be used for loan closing costs.
- First Lien on assets being financed.
- Personal guarantees for all individuals owning 20% or more.
- Corporate guarantees of affiliated companies may be required.
- A minimum projected debt service coverage ratio of 1.25 times is required.
- Medical Doctors, Dentists, Veterinarians, and Pharmacies.
