Medical Office Loans
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Many doctors and physicians consider applying for medical office loans in order for them to start venturing out, while still doing what they’re doing.
Instead of being appointed to a particular hospital, they would just focus on their clinic or their medical office so they can focus more on the condition of each patient, so they could save more time, and of course, in order for them to earn their income without being taxed by any other institution.
What is a Medical Office Loan?
Medical office loans, sometimes called physician loans are loans that doctors and other healthcare practitioners take in order for them to start their own business – in most cases, their own clinics.
It’s a type of loan that people in the medical and the healthcare industry can use for many different things. If you are a healthcare practitioner, or if you represent any medical stature, you’ll be able to get a medical office loan for:
Physicians and other medical and healthcare practitioners can use medical office loans to finance the construction or the building of their clinics. Whether they are planning to build something from zero or literally nothing; or if they’re going to work on a partially completed building, it’ll be allowed. In addition to that, they can also use these medical office loans to be able to purchase some equipment that they need for their business like reclining chairs, desks, laboratory equipment, lab apparatus, etc. Should there be problems within an existing medical office or property, they can take a medical office loan out and have the space renovated and rehabilitated. Last but most definitely not the least, they can use it to look for people and hire staff members and workers such as a receptionist, medical staff or assistants, nurses, and so on. Medical practitioners and other healthcare workers can use medical office loans to be able to fund or finance their business. Building or Constructing Business
Purchasing Equipment
Renovating Current Commercial Property
Hiring Staff Members and Workers
Different Types of Institutions to Get Medical Office Loans
One good advantage that medical office loans have over other types of regular loans is that they’ll be able to find funding for their needs easily. Since they’re in the medical field and their professions are actually reputable, they wouldn’t have or experience any problems in applying or in taking one out.
Now, the options for medical office loans aren’t just limited to banks and other financial institutions of the same field. As a matter of fact, there are a ton of options for these medical office loans. Here are a couple of sources that physicians and other medical practitioners can use:
The Small Business Administration, SBA for short, is a government-controlled agency that provides assistance and support to small businesses in the country. They’re one of the largest providers of loans with an annual budget of $750+ million. If you’re a practicing medical practitioner and you want to secure a medical office loan, you can ask them for help and assistance and they’ll surely be able to accommodate you. However, the SBA’s pool of requirements is rather strict and tight compared to its counterparts. Since they’re government-owned, most of the time, their priority is to make sure that you’re legitimate in all angles – which is why the chances of being approved, even if you’re a doctor, are not that high. Another institution that you can approach is a private money lending group. They’re private companies, meaning, people and businessmen own them, and their role is to help current businesses and new entrepreneurs fund their project or their business. The only main drawback in working with private money lending companies would be the higher interest rates. Other than that, it’ll all be rainbows and butterflies. Who doesn’t know what a bank is? Banks also offer medical office loans – however, you might just not be pleased with what they’ll offer. More often than not, the approval rates of banks are lower than what you would expect. Plus, they rarely approve loans that are above $500K; unless you’re a well-known millionaire and you’re just looking for a quick source of fund. That is the reason why a lot of new generation medical practitioners look for financial help and assistance from private lending companies. Apart from the fact that they guarantee fast approval, they can also allow you to get loans at the best and the most promising interest rates. Small Business Administration (SBA)
Private Money Lending Companies
Commercial Banks
If you’re a doctor, a physical therapist, a physician, a dentist, a pediatrician, or any other type of practitioner, you can visit and consider our business here at Florida Commercial Real Estate Loan Group.
For years, we have been deemed and considered as the best and the most trusted real estate loan group, capable of providing handsome medical office loans to individuals and entities. Whether you’re looking for a medical office building loan to construct your dream clinic, or if you want to add too few pieces of equipment, we’ll help you!
Just tell us what you need and we’ll work our ways to assist you through it!
Get the Best Rates For Medical Office Loans Today!
When you get to know our rates, we’re sure that your eyes would be locked upon us. We are always ready and prepared to help you with your business no matter what type of facility you have!
Should you be unsure of how much you need to prepare for repayment, we’ll give you a free computation!
You will never have any doubts about choosing us here at Florida Commercial Real Estate Loan Group for the medical office loan you need!
Reach out to us via email or by contacting our hotline and a representative of our customer service team will be more than happy to assist you. Work with the best – work with Florida Commercial Real Estate Loan Group and get the medical office loan you need for affordable and cheap interest rates!
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below:
