Expand Your Horizons with Long-Term, Fixed-Rate Financing
Want to add more services, grow your assisted living home, or enter a new market? The U.S. Small Business Administration (SBA) offers SBA 504 loans, an excellent way for senior living businesses to get long-term, fixed-rate money for growth projects.
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Why Choose SBA 504 Loans for Your Assisted Living Facility?
Grow Your Business with SBA 504 loans
SBA 504 loans can be used to pay for many types of business expansions, such as:
- Constructing additional units for assisted living
- The purchase of more facilities
- The updating and renovation of old buildings
- Getting new technology and tools
Lower Down Payment
Most SBA 504 loans only need a 10% down payment, much less than the 20% or more that most regular bank loans require. This makes valuable cash available for other uses by the business.
Fixed-Rate Financing
SBA 504 loans offer long-term, fixed-rate financing, so you can plan your monthly payments and keep your business budget stable.
Reduced Risk for Lenders
Because the SBA backs up a part of the loan, lenders are less likely to lose money and are more likely to offer better terms.
Improved Cash
Flow
SBA 504 loans can help your cash flow and keep your operating capital by letting you pay for your expansion project over a more extended period with fixed-rate payments.
The SBA 504 Loan Process
The SBA 504 loan program involves a three-party partnership:
- Borrower: Your assisted living facility
- SBA Certified Development Company (CDC): A non-profit that helps you apply for a loan and packages your request.
- Lender: A participating bank or credit union that gives out most of the loan money.
SBA 504 Loan Program Breakdown
Feature | Description |
Maximum Loan Amount | Up to $5 million |
Minimum Down Payment | 10% |
Loan Term | Up to 25 years |
Eligible Project Types | Acquisition, construction, or expansion of fixed assets |
Eligible Borrowers | For-profit businesses operating for at least two years |
Maximizing Your SBA 504 Loan Potential
- Strong Business Plan: To get an SBA 504 loan, you need a clear business plan that includes your expansion goals, financial estimates, and plan for paying back the loan.
- Proven Track Record: Your chances of getting a loan increase if you have a history of making money and managing your money well.
- Partnership with a CDC: Working with a trustworthy SBA Certified Development Company (CDC) speeds up the application process and gives you helpful advice.
Senior Housing Lender: Your Trusted Partner for SBA 504 Financing
We have much experience as senior housing lender working with SBA 504 loans for assisted living homes. When it comes to senior living businesses, we know the unique problems and chances they face and can help you every step of the way.
Contact Senior Housing Lender right away to get a free consultation and find out how SBA 504 loans can help the growth of your assisted living home.
Still, trying to figure out where to start? We can help.
Get your idea for senior housing moving with a free consultation; call Senior Housing Lender right now and see what a difference a committed partner can make.
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