Medical Office Building Loans
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When it comes to credits for companies and businesses, those that are part of certain fields and industries can have more benefits and options when looking and requesting one. For example, if you are a company in the medical field, you can request medical office building loans to finance your next premise.
It is quite common for hospitals, laboratories, or any other business in this industry to need more space over the years and, to begin with, it is not simple to finance a building despite its size.
Small, medium or large, real estate properties are quite expensive, especially when they are meant to be used for commercial purposes or offices in specific. Therefore, it is crucial to choose the right loan depending on your situation and needs in order to obtain the best terms and conditions when having one approved.
Now, is there a big difference between regular loans and medical office building loans? If you are indeed interested in purchasing or renovating a medical building, you will have more funds available as well as better conditions to pay the loan when requesting these options in specific. Overall, you will deal with lower and fixed interest rates, you should be able to have more time for repayment, amortization time up to 20 or 30 years, and flexibility when missing a few payments.
However, everything depends on the lending institution or company offering and approving the loans since terms are managed directly by them instead of a standard followed by every single lender. At Commercial Real Estate Loan Pros of Port St. Lucie, we are able to work around medical companies’ and businesses’ needs so they are able to access a new office building with enough space and to offer new services or develop other products.
We know there are many types of medical businesses available in St. Lucie County and all of them are trying to have their first or next premise. Therefore, we want to be the lenders that make it possible without compromising their finances. To request these loans, we only request:
- Credit score.
- Financial records.
- Annual revenue.
- Details and information about the company.
- The property or office building you want to purchase, renovate, or expand.
- Information about active or unpaid loans to determine if we can afford to approve yours based on how much you are dealing with.
Are our terms and conditions fair?
In our company, Commercial Real Estate Loan Pros of Port St. Lucie, we do our best to offer the best ones and make sure the loan is a win-win situation in the short and long run. Therefore, you can expect our conditions to include interest rates from 3% to 10%, higher LTV ratio, flexibility for payments, longer loan term, you can use assets or the property itself as collateral, and you are welcome to negotiate these and the rest of our terms before accepting the funds. We are not trying to make it hard for medical companies but rather allow them to access or renovate the office buildings they need by financing the projects with our loans.
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.