Can you get an SBA loan to buy an assisted living facility?
Direct answer
Yes. SBA loans are common for owner-operators buying assisted living facilities. SBA 7(a) loans go up to $5 million and can require as little as 10% down. Lenders want to see operating experience or a qualified management plan, and personal guarantees are typically required.
What to know
SBA financing fits smaller communities, often in the 16 to 50 bed range that first-time owner-operators buy.
SBA 504 loans can also finance owner-occupied real estate.
Budget for working capital and closing costs on top of the down payment.
How Haven helps
Haven connects buyers with SBA and other lenders. Read about buying an assisted living business.
Related questions
- What do lenders require to refinance an assisted living facility?
- How much down payment do I need to buy an assisted living facility?
- What are my options if refinancing cannot close before my loan matures?
- How do HUD 232 loans work?
- What steps should I take to refinance a senior housing loan before it matures?