TMC Financing discusses trends in SBA 504 medical loans
Trends in SBA 504 Medical Loans: 80 percent of state’s SBA 504 Healthcare loans since 2009 have been in Clark County
Las Vegas, NV – According to Clark County’s largest SBA 504 lender, TMC Financing, in the last five years, 80 percent of Nevada’s SBA 504 loans for healthcare facilities have been funded in Southern Nevada. TMC noted that 83 medical facilities have utilized the SBA’s commercial real estate financing program in Clark County, resulting in over $100 million in funding.
“We’ve seen many medical and healthcare businesses choose SBA 504 financing in Clark County. In contrast to conventional loans, the SBA 504 program offers the attractive financing terms, including below-market, fixed interest rates, and down-payments as low as 10 percent,” said Ann Santiago, senior vice president of development for TMC Financing. TMC Financing specializes in SBA 504 commercial real estate lending for small businesses.
“Clark County has a healthy appetite for independent healthcare facilities with more potential growth in the near future. There is a growing need for excellent medical facilities and this expansion is possible with the help of the SBA program.” said Santiago, who has been an SBA financing expert in Clark County for over 20 years.
Most recently TMC Financing has provided financing for the opening, expansion and renovations for many of Clark County’s medical and healthcare facilities, including the following:
- London Medical Management received a $1.15 million SBA 504 loan for the 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 practice purchase an 8,430 square foot clinic in Henderson. The $1.96 million project allowed the practice to retain 34 employees and hire two additional staff members.
- Dynamic Pain Rehabilitation was able to expand operations in Clark County with a $1.45 million SBA 504 loan for the purchase of an 8,612 square foot facility in Green Valley. “Dynamic Pain Rehabilitation’s expansion allows 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.