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Recently Funded Deal: Dental Office Expansion and Renovation

Recently Funded Deal: Dental Office Expansion and Renovation

Dentist Increases Numer of Treatment Rooms and Provides Four Jobs With Support From The 504 Company

 

 

 

Situation:

Thanks to an influx of new patients, a Queens, NY-based dentist had grown out of its existing leased space. Operating beyond full capacity, the practice saw patient wait times grow to between 45 minutes and two hours. 

Solution:

$660,000 in SBA 504 financing paired with an $825,000 conventional loan made it possible for the practice to purchase and renovate space in a nearby medical office park. The practice increased the square footage of its office by 30% and expanded from three to six treatment rooms. 

Impact:

The practice was able to effectively eliminate long wait times and grew from seeing 15 patients per day to 25. Four new jobs were created, including a receptionist, two hygienists and an associate doctor. 

Have a deal to discuss? Contact a loan officer today. 


 

About The 504 Company

We are mission-driven alternative lenders that provide creative financing solutions to help are We are mission-driven alternative lenders that provide creative financing solutions to help small businesses thrive. Throughout our 61-year history, we have provided thousands of small businesses—including start-ups, mature businesses, and minority- and women-owned businesses—with access to loans when they do not meet the requirements for traditional financing. We offer access to a suite of financing options that includes SBA 504 and Community Advantage loans, as well as online alternative loans, throughout New Jersey, New York, and Pennsylvania.

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