sutter east bay medical center
We receive many requests of loans from the doctors, to purchase a new facility or refinance an existing medical office building loan. Many physicians are surprised to learn about the current state of the market and how their options increasingly limited. Landscape has changed dramatically . One of the things difficult for many doctors to believe or accept is that the decline in the rate of major national banks is currently at 90-95%. This means that out of 100 loan applications that are in 90 to 95 of them are ... declined even for physicians. Many banks are only considering perfect deals.

Doctors, for the banks they hunt and raise money in they are shocked when they actually declined. Doctors who currently have a mortgage, are even more shock when the banks, their "call provision", ie the banking law, the borrower to pay off the loan (and yes 99% of the traditional bank loans have this provision, to them the right to terminate the borrower to finance).

For example, we have just a cash benefit from the refinancing of a doctor in metro Detroit, to his credit by a large national bank. The questions, cooked to falling revenues (through a partnership dispute) and a relatively low credit score in 630th Its existing bank, first beat of the Michigan Economic cried in fear of his knowledge that he go out of business, and they would be $ 2,000,000.

What solutions and options doctors should be receptive to SBA loans and USDA loans. Banks often finance the guarantees from the SBA will be much more aggressive and not just in the vicinity, but also offer better terms than conventional financing. For example, 90% financing on purchases, compared to 70% on the conventional. Prices are generally in line with conventional financing, the minimum 6% 's.

Many people shy the SBA because of the bad rumors, usually not justified. The procedure in the treatment with a PLP lender, it is similar with conventional financing. The key here is to work with SBA PLP lender, which means that only once the loan is signed. If you use a bank, the PLP is not your loan be accepted if the financing by the Bank as an SBA. This means that the 90 - 120 days include processes that you hear.

Finally, an important point about the mind is that not all SBA lenders are the same. They all have different loan programs and terms. For example, we work with a bank, SBA will pay for all charges on behalf of the borrower, which is a major test, the SBA fees are usually 2.75% of the loan amount.

Jeff Rauth is President of Commercial Finance Advisors, Inc. of Birmingham, Michigan. He specializes in commercial real estate loans between $ 100,000 - $ 5,000,000. Offers unique loan programs such as second mortgages, commercial fixed 30 years, 90% non SBA financing, Commercial Equity Lines. 248 885-8797. Moreover, they have a commercial mortgage broker STORE training books, legal documents, spreadsheets, etc., the broker must. Prices start at only $ 4.95! Check it out medical office building loan or loan calculator or loan brokers.