Medical Professional Loans

Industries
Medical Doctors, Ophthalmologists, Optometrists, Dentists, Veterinarians, Podiatrists etc

Loan Purpose
Purchase office condo, finish construction, machinery & equipment, fixtures, furniture, and other business assets. Also practice mergers, practice buy-ins, including equity loans and working capital.

Loan Amount
$250,000 to $5,000,000

Time to Close
Closing within 45-60 days of signed commitment letter

Loan to Value
Up to 120%

Interest Rate
Competitive variable rate based on a spread over the Wall Street Journal (WSJ) prime rate

Term
Up to 25 years based on the loan purpose. Ability to amortizing over the life of the loan.

Prepayment Penalties
Prepayment penalties will apply.

Fees
Loan Guarantee fee based on loan size. Good faith deposit utilized toward loan closing costs.

Collateral
First lien on assets being financed. Real estate based financing

Recourse
Personal guarantees on all individuals owning 20% or more. Corporate guarantees of affiliated companies may be required.

Debt Service Requirements
Projected debt service coverage ratio of 1.25 times.

Click to download the BNABusinessLoanApplication1 (184.7 KiB)