| Date: |
March 04, 2016 |
| Title: |
$928K Dental Practice 2nd Location Acquisition and Debt Consolidation |
| Practice Type: |
Dental Practice |
| Loan Terms: |
$928K DENTAL PRACTICE 2ND LOCATION ACQUISITION, 4.99%, 10 YEAR FIXED TERM |
| Scenario: |
Two successful Dentists were looking to purchase a 2nd location in Arizona. They started up their 1st practice together two years prior and had not paid down much of their start-up loan. The partners were looking for 100% financing and also wanted to pay-off their 1st loan to help increase their cash flow.
The dentists came to 1st Med Financial for help since the bank that gave them their start-up loan was not willing to extend them additional credit to purchase the 2nd practice. 1st Med had numerous conversations with the doctors to understand their ultimate goals and get them the best financing possible.
When talking with the doctors 1st Med realized that they have future plans of growth and would like to purchase and start-up additional practices in the future. This was very important when deciding which lenders to use.
We wanted to make sure that the partners would not have issues purchasing practices in the future and also provide a good rate and term at the same time.
100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, refinance of their start-up loan & working capital.
Closed: 03/04/2016. |
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