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Sponsor
Small Business Administration
Deadlines
Applications are accepted on a continuous basis
Goal
The SBA 7(a) program provides loan guarantees to financial institutions that lend money to small businesses. The loans are a potential option for small health care providers. Funds can be used for:
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- Acquiring, refinancing or improving real estate and buildings
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- Short and long term working capital
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- Refinancing of current corporate debts
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- Transfer of ownership (in whole or in part)
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- Multi-purpose loans
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- Purchase of machinery, furniture, inventory, supplies or materials
The 7(a) Program offers flexibility, longer terms, and potentially lower down payments compared to other financing options.
Eligibility
To qualify, the business must be profitable and fall within the size standards set by the SBA.
Private medical facilities, such as hospitals, clinics, emergency departments, and medical and dental laboratories, are eligible. Convalescent and nursing homes are also eligible, provided they are licensed by the appropriate government agency and provide services beyond board and lodging.
Geographic coverage, Loan provider
National
Application procedure
Detailed guidelines are available on the program website.
Start the process by contacting local lenders and inquiring about their participation in the SBA 7(a) program.
Contact your SBA District Office with specific questions about the admission requirements and the application procedure.
Tagged as
Capital Finance · Healthcare Staff · Healthcare Companies & Finance · Healthcare Facilities
For full information on funding programs, including the status of your application, please contact the funders directly. Summaries are provided for your convenience only. RHIhub does not participate in application processes or monitor application status.
