Practice Loan Details

Date: June 20, 2014
Title: $1.9MM PET & Medical Imaging Practice Acquisition
Practice Type: MRI / Imaging Center
Loan Terms: $1.9MM PET & MEDICAL IMAGING PRACTICE ACQUISITION, 5.25%, (Prime + 2.00%), 10-YEAR TERM

Scenario: A Nuclear Medicine Resident was looking to purchase a successful PET & Medical Imaging Practice in NY. The acquisition was scheduled to take place just days after the doctor finished his residency.

It was crucial to have the loan approved in advance and all the conditions met prior to closing as time was of the essence. 1st Med assisted the doctor throughout the process and was able to structure the acquisition accordingly including $250K in working capital.

SBA 7(a) Practice Financing Structured to provide for the acquisition of the PET & Imaging Practice along with working capital needs.

Closed: 06/20/2014



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