| Date: |
May 07, 2018 |
| Title: |
$1.36MM Dental Practice Partner Buy-Out & Debt Consolidation |
| Practice Type: |
Dental Practice |
| Loan Terms: |
$1.36MM DENTAL PRACTICE PARTNER BUY-OUT & DEBT CONSOLIDATION 7.0%, (Prime + 2.25%), 10-YEAR TERM |
| Scenario: |
A successful Pediatric Dentist located in Alaska was looking to buy-out his partners and consolidate his his practice loans. He currently had a practice loan that he and the partners were all guarantors on along with few high interest rate loans just in his name.
The problem that this dentist was having was that all the banks that he went to wanted the partners to continue to be guarantors on the loans. They obviously were not willing to do that if they were no longer partners. That is when he came to 1st Med Financial.
We were able to understand what the borrower was trying to do. We were even able to include his short-term high interest rate loans and save him over $10K a month.
100% SBA 7(a) Practice Financing Structured to provide for the partner buy-out, debt consolidation, and additional working capital.
Closed: 5/7/2018 |
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