| Date: |
June 14, 2017 |
| Title: |
$717K Dental Practice Acquisition & Merger |
| Practice Type: |
Dental Practice |
| Loan Terms: |
$717K DENTAL PRACTICE ACQUISITION AND MERGER. 6.50%, (Prime + 2.50%), 10-YEAR TERM |
| Scenario: |
A successful dentist in Las Vegas NV, was looking to acquire a neighboring practice to merge into her first practice. This was a perfect situation because a few years back she purchased a very large practice with 7 operatories. The would allow the selling dentist to merge his practice into hers and continue to produce as he transitions into retirement over a couple of years.
There were a few issues with the purchasing dentist's credit. A number of lenders had already turned her down. That is when she decided to contact 1st Med Financial to see if we can help her with the deal.
At 1st Med Financial, we were able to analyze both practices and understand the amount of costs that could be cut. We also looked at consolidating the dentist's original debt. Even though it was a small amount, the payments were high and it really helped with the cash flow when it was included.
100% SBA 7(a) Dental Practice Financing Structured to refinance the purchase of the neighboring practice, consolidate the current outstanding debt, and working capital.
Closed: 06/14/2017 |
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