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    A, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two
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    SBA backed loans fill a void, helping new business owners start businesses. You can use SBA loan proceeds to purchase land, buildings, equipment, fixtures, supplies, construction costs, and provide working capital while you get your MedSpa up and running. The term is usually 10 years, longer if a building is included.

    Medical Spas face additional hurdles since many lenders don’t understand what they actually are, or the revenue potential of providing cosmetic and anti-aging treatments like Botox™ injections, skin rejuvenation, and laser hair removal. If your local bank doesn’t understand the industry, don’t despair there are lenders who specialize in medical spa financing.

    If you are considering a SBA guaranteed loan, here are 5 pointers to help you along the way.

    1. Make sure you have lots of time and energy

    If you are going to get a loan backed by the SBA, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two

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    get your MedSpa up and running. The term is usually 10 years, longer if a building is included.

    Medical Spas face additional hurdles since many lenders don’t understand what they actually are, or the revenue potential of providing cosmetic and anti-aging treatments like Botox™ injections, skin rejuvenation, and laser hair removal. If your local bank doesn’t understand the industry, don’t despair there are lenders who specialize in medical spa financing.

    If you are considering a SBA guaranteed loan, here are 5 pointers to help you along the way.

    1. Make sure you have lots of time and energy

    If you are going to get a loan backed by the SBA, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two

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    l of providing cosmetic and anti-aging treatments like Botox™ injections, skin rejuvenation, and laser hair removal. If your local bank doesn’t understand the industry, don’t despair there are lenders who specialize in medical spa financing.

    If you are considering a SBA guaranteed loan, here are 5 pointers to help you along the way.

    1. Make sure you have lots of time and energy

    If you are going to get a loan backed by the SBA, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two

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    cal spa financing.

    If you are considering a SBA guaranteed loan, here are 5 pointers to help you along the way.

    1. Make sure you have lots of time and energy

    If you are going to get a loan backed by the SBA, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two

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    A, you are going to have to follow government generated procedures. Which means these loans are more paper intensive and take much longer than standard term loans. It’s not uncommon to see SBA loans drag out a month or two (or even longer). Before you even begin the SBA process, make sure you’ve completed a business plan with detailed pro forma financials. For more information, check out the SBA’s website on Business Plan Basics (www.sba.gov/starting_business/planning/basic.html)

    2. Be prepared for all the fees

    Many people don’t realize the SBA charges a guaranty fee that is typically around 3% for a medical spa. In addition, the lending institute will often pass on other third party costs, including: appraisal fees, legal fees, and a loan packaging fee. One fee the SBA doesn’t have for loans less than 15 years is a pre-payment penalty. This allows you to pay the loan off at any time without penalty.

    3. Interest rates can be higher than traditional loans

    Another myth is the SBA guaranteed loans have low interest rates. In most cases the SBA guaranteed loans interest rate wil

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