Las Vegas Medical Practice Obtains Office Space for $2.5 Million with SBA 504 Loan
As published in Yahoo! Finance:
Las Vegas Medical Practice Obtains Office Space for $2.5 Million with SBA 504 Loan
Monos Health Institute Receives SBA 504 Funds From TMC Financing
TMC Financing, a leading Certified Development Company (CDC) providing Small Business Administration (SBA) 504 real estate financing in California and Nevada, today announced that Monos Health Institute has purchased a property in Las Vegas with an SBA 504 loan for $2,502,915. The project includes a 12,497 square foot building to be used as a medical practice at 6120 South Fort Apache Road in Las Vegas, Nevada.
“With today’s low interest rates, many business owners are turning to SBA 504 financing to support plans for expansion,” said Barbara Morrison, President and CEO, TMC Financing. “Monos Health Institute sought help from TMC to obtain a medical center for their growing operations through the SBA 504 loan program. With the help of 504 financing, the business will have fixed costs for 20 years on the new property at a below-market interest rate.”
Cindy Santilena, Senior Vice President – Business Development at TMC Financing, worked with Monos Health Institute to provide financing through the SBA 504 commercial real estate loan program. SBA 504 financing offers businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. SBA 504 loans provide long-term stability for businesses with the ability to retain working capital which can be used to further grow the business and create new jobs. The March SBA 504 interest rate is 4.29%, fully fixed for 20 years.
Established in 2011 by Dr. Jeremy Lipshutz and Dr. Heath Wills, Monos Health Institute is the first comprehensive, multi-disciplinary, integrated pain treatment center in Nevada. Specializing in pain management, the medical center begins by grouping pain conditions by type, then enrolling patients into programs specifically designed to deal with each form of pain.
About TMC
During the past 30 years, TMC has provided approximately $7.2 billion in SBA 504 financing for more than 4,200 businesses throughout California and Nevada. This financing has resulted in the creation of 30,000 jobs. TMC has been ranked in the top five Certified Development Companies nationwide for over a decade, and is the number one SBA 504 Lender in Northern California and Las Vegas. TMC’s experienced staff works directly with borrowers, first mortgage lenders and real estate brokers to tailor financing packages that meet SBA program guidelines and the borrower’s credit capacity. For more information, visit http://www.tmcfinancing.com.