With today’s low interest rates many business owners are choosing to buy instead of lease. Rental rates across the country are soaring and with SBA 504 financing mortgage payments can be fixed for 20 years. By purchasing their building businesses have the opportunity to build equity stabilize occupancy costs and retain cash. In some cases buying even be cheaper than leasing especially after tax savings are taken into consideration. In addition improvements and large equipment needed to run the business can be rolled into the loan and with only 10% down businesses can retain working capital for inventory new employees or other operating expenses.
Many medical professionals are taking advantage of this low rate environment and are using the SBA 504 loan program to include significant construction or renovations in their projects to customize their new spaces. Bonanza Cat Hospital London Medical Management and Infinity Hospice Care are among a string of medical professionals taking advantage of SBA 504’s low-down payment real estate financing.
Infinity Hospice used SBA financing to construct a new 9600 square foot 12-bed hospice center plus an additional 9000 square foot office building. “Our new facility will help address the demand in the Las Vegas valley for more comprehensive in-patient supportive care” said Brian Bertram Executive Vice President of Infinity Hospice Care. “We offer comprehensive treatment plans to our patients and assistance to family members caring for them.” Read more here.
London Medical used their financing to expand and remodel their 7300 square foot headquarters. This loan supported 24 new jobs in the Las Vegas area. “TMC Financing was able to provide us with information that was available to us through the SBA (Small Business Administration) and walked with us every step of the way so we could have a successful outcome in the process” said London Medical Management president and CEO Jack London. “They have been extremely helpful in allowing us to accomplish the dream of owning our own building here in Las Vegas.” Learn more about London Medical’s project.
Bonanza Cat Hospital used SBA financing to expand into a new 6800 square foot full-service cat hospital. One of the few 24-hour cat hospitals in Southern Nevada Bonanza Cat Hospital was founded by Linda Steelman in 1995. Steelman is also an advocate for cats and founded the Poppy Foundation to help provide free and low-cost medical care for those who can’t afford regular veterinary services. She says cats are still under-served for health care both locally and nationally. Read their story here.