Practice Loan Details

Date: December 14, 2015
Title: $1.0MM Pharmacy Acquisition
Practice Type: Pharmacy Practice
Loan Terms: $1.0MM PHARMACY ACQUISITION, 5.25%, (Prime + 2.00%), 10-YEAR TERM

Scenario: An experienced pharmacist was looking to purchase the independent pharmacy that she has been working at for a number of years. She had already been turned down by multiple lenders and was not very hopeful of getting the acquisition closed. That is when she came to 1st Med for one last chance.

The main thing holding her back was a prior bankruptcy and a credit issue that arose a couple of years back.

At 1st Med we were able to see that the client has proven to become financially responsible and that the credit issue was more of an oversight by the student loan company then her fault. We helped communicate all of this information with the underwriters to make sure that she got a fair chance at financing.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition of the pharmacy along with working capital needs.

Closed: 12/14/2015



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