Practice Loan Details

Date: May 08, 2017
Title: $850K Dental Practice Real Estate Acquisition
Practice Type: Dental Practice
Loan Terms: $850K DENTAL PRACTICE RE ACQUISITION, 6.00%, 25-YEAR TERM, 6.00%, (Prime + 2.25%), 25-YEAR TERM

Scenario: 1st Med Financial had just helped two successful dentists in Idaho purchase the dental practice they were working at. They now wanted to close on the commercial real estate that the practice was located in. This was about 2 months after closing the practice acquisition loan.

The dentists originally came to 1st Med Financial to help them out, since the banks they approached wanted either an equity injection from the borrowers or a substantial seller note from the owner. Neither of these two options were a possibility.

1st Med Financial had numerous discussions with both the borrowers and the sellers. 1st Med wanted to really understand the transaction and the ultimate goal of both parties. Closing on the commercial real estate would actually help the new owners cash flow moving forward.

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

Closed: 05/08/2017



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