Assisted living facilities are eligible for SBA 504 loans if they meet the following requirements:
The business must be a for-profit, small business as defined by the SBA.
The business must occupy at least 51% of the project being financed.
The business must create or retain at least one job for every $65,000 of SBA 504 loan funds.
The business must have a tangible net worth of less than $15 million and an average net income of less than $5 million after taxes for the preceding two years.
For more information on eligibility requirements, please visit https://sba504.loans/sba-504-blog/what-are-the-eligibility-requirements-for-sba-504-loans/.