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Special Purpose Property Loans
Secure SBA financing for hotels, car washes, golf courses, and other special properties.
Who Qualifies for Special Purpose Property Loans?"
Our SBA 504 special purpose property loans are designed for businesses with unique property needs, such as hotels, motels, assisted living facilities, car washes, golf courses, and other special-purpose properties. Eligible businesses must meet SBA size standards, be for profit, with a tangible net worth of less than $20 million and an average net income of less than $6.5 million after taxes for the preceding two years.
Loan Details and Benefits
- Up to 85% financing for limited/special purpose properties.
- Long-term, fixed interest rates.
- Terms up to 25 years for real estate.
- Lower down payments to preserve your capital.
How to Apply
Contact me to start your application process. I'll guide you through the necessary documentation and ensure your application meets all SBA 504 loan requirements.
Frequently Asked Questions:
Question - What types of properties are considered special purpose?
Answer - Properties such as hotels, motels, car washes, assisted living facilities, golf courses, and other unique business properties.
Question - Can I use the loan to purchase and renovate special purpose properties?
Answer - Yes, our SBA 504 loans can be used to purchase and renovate special purpose properties.
Question - What are some other examples of special purpose properties?
Answer - Amusement parks, bowling alleys, car wash properties, cemeteries, cold storage facilities where more than 50% of total square footage is equipped for refrigeration, dormitories, farms, including dairy facilities, funeral homes w/ crematoriums, gas stations, golf courses, hospitals, surgery centers, urgent care centers and other health or medical facilities, hotels, motels and other lodging facilities, marinas, mines, nursing homes, including assisted living facilities, oil wells, quarries, including gravel pits, railroads, sanitary landfills, service centers and lube, brake or transmission centers with pits and inground lifts, sports arenas, swimming pools, tennis clubs, theaters, and wineries.