My wife is a Dermatology NP with her own practice (been in business for 9 months) at a suite where she's paying $2100 monthly in rents.
She's already outgrowing the location and is looking to expand. I've told her that we should purchase vs rent a new location.
We are currently looking at a commercial space that we'd like to purchase.
$230K property asking. 1100sqft in the heart of our downtown. While we could pay for the property cash, we'd like financing so we can renovate the property (mostly cosmetic)
Bobbie, this is exactly the sort of deal I’d take to a few local banks and start building a relationship with a commercial lender.
Here in Louisville, we have several smaller banks that keep loans in-house. In my experience, they have much more flexibility to look at the whole picture rather than trying to fit every borrower into the same box.
You’ve got an owner-occupied building for your wife’s practice, strong credit, and enough cash to purchase outright—you’re looking to preserve some of that cash for renovations. That’s a story I’d want to sit down and explain to a local lender.
The practice being only nine months old is something I’d bring up immediately so you can find out how each bank would approach it. But I wouldn’t rule yourselves out before having those conversations.
I’d call a few community banks, ask for someone who handles owner-occupied commercial real estate, and explain both the purchase and renovation plans. This is where having a relationship with a banker—not just filling out an online application—can really help.
Bobbie, this is exactly the sort of deal I’d take to a few local banks and start building a relationship with a commercial lender.
Here in Louisville, we have several smaller banks that keep loans in-house. In my experience, they have much more flexibility to look at the whole picture rather than trying to fit every borrower into the same box.
You’ve got an owner-occupied building for your wife’s practice, strong credit, and enough cash to purchase outright—you’re looking to preserve some of that cash for renovations. That’s a story I’d want to sit down and explain to a local lender.
The practice being only nine months old is something I’d bring up immediately so you can find out how each bank would approach it. But I wouldn’t rule yourselves out before having those conversations.
I’d call a few community banks, ask for someone who handles owner-occupied commercial real estate, and explain both the purchase and renovation plans. This is where having a relationship with a banker—not just filling out an online application—can really help.
As a lender who does a lot of these owner-occupied deals, you’re in a great spot.
At $230k / 1100 sq ft and 100% owner-occupied for her Derm practice, you should be looking at SBA 7(a) all day.
Here’s how we’d structure it for you: • Purchase + Renovation in one loan - no need to use your own cash for the cosmetic work
• 25 year fully amortized, fixed - keeps payment way under that $2100/mo you’re paying now • Business being 9 months old is not a dealbreaker for SBA with strong personal credit - we just PG it
If you wanted to avoid SBA paperwork/fees, a conventional owner-occupied commercial loan is plan B:
With your credit profile and ability to pay cash, you’ll get approved either way - it’s just about keeping capital for the business.
If you want, I lend in FL and can run numbers for you.
Buying once she's outgrowing a suite at $2100 a month is a sound instinct, and being able to close in cash if you had to gives you real room. Your credit gets you a fair hearing, but with a practice this young the lenders I shop usually lean harder on the practice's own numbers. So have a year-to-date P&L, her business bank statements and the renovation bid ready before the first call. A lot of medical owners also buy the building in a separate LLC that leases it to the practice, which keeps the real estate apart from the business. And some commercial lenders set loan minimums above a deal this size, so ask that early. What does the practice net per month so far? That's what has to carry the payment.
We can help, Bobbie. Please feel free to reach out directly at any time. Based on your plans, I would recommend a commercial owner-occupied financing option, as it is likely the most efficient solution. Thanks!
We’d be happy to help, Bobbie! Feel free to reach out to us directly anytime. Based on your plans, I’d recommend https://nextdealfunded.com/ she has the best plan for you
Bobbie, buying instead of renting makes a lot of sense when the practice is already outgrowing its space. Helping business owners finance their own buildings is what I do, and I work with a network of commercial and SBA lenders, so I can get you to the right one. Since the practice is only 9 months old, an SBA 504 or 7(a) loan is worth asking about, because they lean on the owner's experience and can fold the renovation into the loan. Message me the address and your rough reno budget and I'll point you to the right person.
Hi Bobbie — for an owner-occupied commercial purchase like this, lenders mainly look at the practice's cash flow, your personal credit and liquidity, and the building itself, and the fact you could pay cash but are choosing to finance so you can fund the renovation actually strengthens the file. At $230K with mostly cosmetic work, conventional owner-occupied commercial and SBA-type options are usually the cheapest route, though a practice with 9 months of history can be a sticking point for some banks, so how it is packaged matters. I am Marc with Royal Partners — if you want, DM me how much you were hoping to finance including the renovation and a rough picture of the practice's revenue and I will give you straight numbers on what pencils.
Hi Bobbie — buying beats renting here, and I can run this. At $230K with strong credit on both sides, the one thing that decides the structure is the practice's short history, so the numbers matter more than the pitch. Send me:
- The practice's name, and how much you want to finance in total — purchase plus renovation — with your rough renovation budget
- The practice's revenue and net per month so far (year-to-date is fine), and how much you currently pay yourselves from it
- Your wife's years of experience in dermatology, and both credit score ranges
- A rough picture of your personal net worth and liquid cash, how much cash you're putting into this deal, and any existing business or personal debts (balances and monthly payments)
With those I can give you a straight read within 24–48 hours on what pencils — structure, term, and payment versus the $2,100 rent you're paying now. Email is [email protected] if that's easier.
Hi Bobbie, is your wife looking to purchase the building for her practice, and do you have an estimate for the renovations? That might help narrow down which financing options are worth exploring.
Hi Bobbie, congratulations to your wife on the growth of her practice! Outgrowing her current location in just nine months is certainly encouraging.
With a $230K purchase price, strong credit, and the ability to purchase outright, you're in an interesting position. Rather than tying up your available cash in the property, we may be able to structure commercial financing that allows you to purchase the building while preserving capital for renovations and continued growth.
We work with several commercial real estate financing partners nationwide. I'd be happy to review the scenario and see what options may be available, particularly given the practice's nine-month operating history.
Hey Bobbie, congrats to your wife on growing her practice! I'm a business funding consultant offering access to SBA loans, business lines of credit, and 0% introductory APR business credit cards for qualified applicants. I'd be happy to explore options for the purchase and separate funding for renovations or equipment. What's your estimated renovation budget, and have you spoken with any lenders yet?