Practice Loan Details

Date: November 16, 2016
Title: $800K Dental Practice 2nd Location and Real Estate Acquisition
Practice Type: Dental Practice
Loan Terms: $800K DENTAL PRACTICE 2ND LOCATION & RE ACQUISITION, 6.25%, 25-YEAR TERM, 6.25%, (Prime + 2.75%), 25-YEAR TERM

Scenario: A successful Dentist in Illinois was looking to purchase his second practice in neighboring town from his current practice. Unfortunately the bank that did the loan on his first practice did not want to extend any additional credit. This particular Dentist had plans to grow and purchase numerous practices. He realized that he would need the right partner to do so.

That is when he came to 1st Med Financial. We worked with the dentist and after talking to him, realized that he had the opportunity to purchase the real estate as well. He wanted to do this in the first place but thought it was out of the question because he was already getting denied for the practice loan. Not only were we able to get him financing for the practice and the office building but we also secured him working capital to help with the transition.

100% SBA 7(a) Practice Financing Structured to provide for the purchase of the office building, improvements and working capital needs.



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