Practice Loan Details

Date: August 29, 2014
Title: $2MM Pharmacy Acquisition / Buy-Out
Practice Type: Pharmacy Practice
Loan Terms: $2.0MM PHARMACY ACQUISITION, 5.25%, (Prime + 2.00%), 10-YEAR TERM

Scenario: An experienced pharmacist who owned a minority share of two separate pharmacies had an opportunity to buy-out the majority owners.

The pharmacist wanted to bring in an additional partner as well. The hurdle that new owners were facing was the large accounts payable to the vendor and they would need a large portion of the loan as working capital to pay off the debt.

At 1st Med, we saw that the two pharmacies were very profitable and that with the additional working capital the transition would go smoothly.

95% SBA 7(a) Practice Financing Structured to provide for the acquisition of both pharmacies along working capital needs to.

Closed: 08/29/2014



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