Skilled Nursing Business Loans

Skilled nursing businesses and the need for specialized services like memory care, short-term rehabilitation, or even integrating telehealth are experiencing significant growth due to several key factors:

• By 2030, all baby boomers will be at least 65 and are expected to drive continued growth in the skilled nursing industry.
• Innovations in medical technology now allow skilled nursing facilities to provide more complex treatments.

Skilled nursing businesses can capitalize on current trends by expanding services and adopting new technologies to meet growing demand. As baby boomers age, the need for services like telehealth and advanced treatments will increase, making it essential for businesses to adapt. However, these advancements come with substantial costs—telehealth systems and upgrading medical equipment for complex treatments can cost tens of thousands of dollars.

SBA loans provide an ideal solution to finance these advancements. With flexible terms, lower down payments and competitive rates, SBA 7a loans offer up to $5 million for businesses to invest in critical areas such as new technology or expanding facilities. SBA 504 loans also allow businesses to finance real estate or equipment with long-term, fixed rates.

First Bank of the Lake has funded more than $1.1 billion in SBA loans to small businesses and has the expertise to help skilled nursing facilities secure the funding they need. Our team understands the healthcare industry’s unique financial challenges and is ready to help you navigate the SBA loan process to fuel your growth and meet the demand for cutting-edge services.