SENIOR CARE SBA 7(a) LOANS
Caring for seniors is more than just a job—it's a calling. We share your passion and commitment to delivering the highest quality of service. We know that running an elder care facility comes with its own set of challenges, balancing finances while ensuring the well-being of those you serve.
Whether you’re looking to hire new staff, purchase equipment, or renovate your facilities, the SBA 7(a) loan is a top financing choice for elder care facilities due to its flexibility and accessibility.
Longer Repayment Terms
SBA 7(a) loans provide flexible repayment terms, with up to 10 years for working capital, equipment, and general business needs, and up to 25 years for real estate purchases. Loans with terms under 15 years have no prepayment penalties, while loans exceeding 15 years incur penalties in the first three years: 5% in the first year, 3% in the second, and 1% in the third. After three years, you can repay without penalties, giving you freedom to manage your loan as needed.
Competitive Interest Rates
Benefit from the lower interest rates available with SBA 7(a) loans to reduce your overall financing expenses. The government’s guarantee allows us to offer rates that are more competitive than those from conventional lenders.
Lower Down Payments
The government guaranty also enables small business owners to secure financing with lower down payments compared to traditional business loans, typically up to 20% of the total project cost but in some cases as low as 0%.
Flexible Use of Funds
The SBA 7(a) loan program is widely regarded as a top choice for small businesses due to its unmatched flexibility. Unlike many traditional loans that impose strict limitations, 7(a) loans empower businesses to meet a variety of financial needs, making them versatile for nearly any business purpose or stage of growth.
What Can SBA 7(a) Do for Your Elder Care Business?
Our flexible financing solutions allow you to invest in the most critical aspects of your business, whether it's one specific area or several at once:
Business Expansion
Whether you're opening a new location, hiring additional staff, or upgrading your equipment, our loans give you the capital to grow your business.
Equipment & Technology
From cozy seating areas to advanced health monitoring systems, equip your elder care facility with the essential tools to enhance resident comfort and provide top-quality care.
Real Estate Investments
Purchase, build, or refinance your facility to give your business a solid foundation for growth and success.
Working Capital
Ensure smooth day-to-day operations by covering essential expenses like payroll, equipment, and marketing.
Debt Refinancing
Simplify your financial management by consolidating multiple loans into one, often with better terms.
Solutions for Every Stage of Your Elder Care Business
Our SBA 7(a) loans are designed to support elder care owners throughout their careers, whether you’re just getting started, expanding your business, or preparing for retirement.