May 12, 2014

Death Care Practice

A funeral home director was looking to purchase his own death care practice. He contacted 1st Med when he heard about our funeral home financing options.

He was given the opportunity to acquire a strong practice and real estate from a retiring director. With only 10% for injection, 1st Med structured a 15% seller hold-back note to help with the equity injection requirements.

SBA 7(a) Practice Financing Structured with $25K in working capital for marketing & future growth.

Loan Proposal Issued: 5/12/2014

$1.25MM FUNERAL HOME ACQUISITION, 5.25% (PRIME + 2.00), 25-YEAR TERM