Recently Funded Deal: Dental Office Expansion and Renovation
Dentist Increases Numer of Treatment Rooms and Provides Four Jobs With Support From The 504 Company
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.
$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.
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.
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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.