Medical Office Loans
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Financing big properties like buildings or commercial structures is one thing, but when you are going for a smaller investment to maybe be independent and offer your services, the investment is not that big but still relevant. If you are in the medical field, you will feel related to this but there is no need to feel hopeless when medical office loans are available.
You might not know this, but different types of loans are available and some of them have a specific purpose despite some being similar to others. Also, their variations are not only based on properties or specific expenses but also on who is requesting them.
For those in the medical industry or field, they have several benefits when it comes to credits available:
- They handle lower interest rates and those are usually fixed as well.
- It is possible to apply for loans to finance medical equipment or specific expenses.
- More time to pay the loan is provided.
- LTV and LVR ratios are higher than usual.
With this in mind, what are medical office loans used for? To purchase, renovate, remodel, or rent space where doctors or anyone involved in the field can offer services or products.
In Florida, many new doctors rely on these loans to finance their own spaces or have working capital and find opportunities in the field. Meanwhile, others choose to rely on the credits to fund different projects that still involve a medical office.
If you feel like a medical office would be necessary for your plans or maybe you already have a space that can be used as one, you can choose to request medical office loans and have enough funds to complete the project and start working or using it for what you need.
At Commercial Real Estate Loan Pros of Tallahassee, we love supporting anyone in the medical field so they are able to offer relevant services to the city and entire Leon County. Therefore, if you are interested in acquiring or working with a medical office, we will be more than happy to provide the funds if you meet our requirements:
- Prove that you will use the space for specific purposes in the medical field.
- Your credit score.
- Collateral.
- Financial records.
- Basic documentation and information.
- Details about the office you will rent, purchase, or renovate/remodel.
What are our terms and conditions for medical office loans?
They tend to vary depending on the borrower and specific projects with the office. However, we do have standards and ranges:
- Interest rates usually go from 3% to 10%.
- The same interest rates are always fixed regardless of the duration of the loan.
- We cover up to 100% of the total expenses.
- We offer more time for repayment: between 5 to 10 years or more.
- We are flexible with missing payments and quotes.
For more information about the conditions, make sure to contact our team at Commercial Real Estate Loan Pros of Tallahassee and let them know your ideas and projects even before requesting the loan, in this way, they will provide guidance and a good idea of how the terms would be and work for you.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.