| Date: |
April 03, 2017 |
| Title: |
$1.575MM Dental Practice Acquisition |
| Practice Type: |
Dental Practice |
| Loan Terms: |
$1.575MM DENTAL PRACTICE ACQUISITION. 5.23%, 15-YEAR TERM - FIXED RATE FOR 5 - YEAR TERM; ADJUSTS EVERY 5 YEARS |
| Scenario: |
Two successful dentists in Idaho, were looking to purchase the dental practice where they were currently working. The partners were looking for 100% financing and also requesting $125K in working capital.
The dentists came to 1st Med Financial for help 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 sellers to really understand the transaction and the ultimate goal of both parties. We understood that since the two doctors were already responsible for the majority of the production this would limit the "transition risk" that the lenders they originally went to were worried about.
100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital.
Closed: 04/03/2017. |
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