Recent Closings & Loan Proposals
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$1.05MM Veterinary Practice & RE Acquisition
Veterinary Practice
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$1.05MM Veterinary Practice & RE Acquisition
Veterinary Practice
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| Scenario: |
$1.05MM VETERINARY PRACTICE & RE ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM |
| Loan Terms: |
A successful Banfield Associate was looking to purchase her own practice in Oregon. She contacted 1st Med when she heard about our 100% financing options.
She was given the opportunity to acquire a strong practice and real estate from a retiring doctor. Although she had minimal capital available to inject, we were able get her approved for 100% financing that was needed to complete the transaction.
100% SBA 7(a) Practice Financing Structured with $50K in working capital for marketing & future growth.
Closed: 4/25/2013 |
Close Get Details Here
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$200K Veterinary Practice Acquisition
Veterinary Practice
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$200K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$200K VETERINARY PRACTICE ACQUISITION, 6.68% INT. RATE, 10-YEAR FIXED TERM |
| Loan Terms: |
An experienced Florida Veterinarian looking to purchase a practice from a retiring Vet approached 1st Med for help.
She approached multiple lending sources locally, but was having issues receiving financing due to the downward trends of the practice.
We saw the value in her experience and were able to move quickly.
100% Conventional Practice Acquisition Financing Structured with working capital included for marketing & future growth.
Closed 4/05/2013 |
Close Get Details Here
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$220K Pharmacy Practice Start-Up
Pharmacy Practice
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$220K Pharmacy Practice Start-Up
Pharmacy Practice
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| Scenario: |
$220K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM |
| Loan Terms: |
An experienced long-term Walmart Pharmacist looking to start-up her own Pharmacy inside a upscale independant grocery store located in Baton Rouge, LA.
Having trouble securing the necessary financing, she contacted 1st Med Financial. We worked with her on her business plan and projections and were able to secure the financing she needed.
SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.
Closed: 03/29/2013 |
Close Get Details Here
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$532K Dental Practice Debt Consolidation
Dental Practice
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$532K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$532K DENTAL PRACTICE DEBT CONSOLIDATION. 5.6% 7-YEAR FIXED TERM |
| Loan Terms: |
A successful general dentist located in Massachusetts looking to consolidate his former expansion loan and various practice debts he has compiled into one low monthly payment.
His goal was to take advantage of low interest rates and accelerate the pay down of his debts.
Conventional Pharmacy Loan Financing structured to refinance the expansion loan & practice debts. Closed in 23 days from application.
Closed: 2/28/2013 |
Close Get Details Here
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$450K Optometry Practice Acquisition
Optometry Practice
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$450K Optometry Practice Acquisition
Optometry Practice
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| Scenario: |
$450K OPTOMETRY PRACTICE ACQUISITION, 5.95%, 10-YEAR FIXED TERM |
| Loan Terms: |
An Associate Optometrist was looking to purchase the practice she was currently working 4 days per week at. After receiving sub par financing from her local banks, she approached 1st Med for help.
100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, new equipment & working capital.
Closed 2/19/2013 |
Close Get Details Here
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$620K Pharmacy Practice Start-Up
Pharmacy Practice
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$620K Pharmacy Practice Start-Up
Pharmacy Practice
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| Scenario: |
$620K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM |
| Loan Terms: |
When two experienced former healthcare professionals were looking to start-up a new compounding pharmacy concept in Chicago, IL, they were referred to 1st Med Financial.
The partners were looking to create a platform for small & independent pharmacies to access much needed compounding services.
SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.
Closed: 2/08/2013 |
Close Get Details Here
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$690K Dental Practice Debt Consolidation
Dental Practice
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$690K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$690K DENTAL PRACTICE RE & DEBT CONSOLIDATION. 4.3% 3-YEAR FIXED RESETTING TERMS, 25-YEAR TERM |
| Loan Terms: |
Successful Dentist in Montana looking to consolidate & refinance his real estate, practice loan and accumulated debts.
SBA 7(a) Loan Financing structured to refinance original building loan & practice note, loan related soft costs and minor working capital.
Increased monthly cash flow by ~$4000.
Closed: 12/19/2012 |
Close Get Details Here
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$100K Dental Practice Equipment Acquisition
Dental Practice
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$100K Dental Practice Equipment Acquisition
Dental Practice
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| Scenario: |
$100K DENTAL PRACTICE EQUIPMENT PURCHASE, 6.99% FIXED, 10-YR TERM. |
| Loan Terms: |
Successful Dentist in N. Carolina renovating 6 ops in his current location. He contacted 1st Med Financial looking for $100K worth of equipment and upgrades including 2 new chairs, a digital scanner, software & website design.
Structured 100% conventional equipment loan to cover all equipment & office upgrades.
Closed 12/18/2012 |
Close Get Details Here
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$515K Dental Practice Debt Consolidation
Dental Practice
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$515K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$515K DENTAL PRACTICE DEBT CONSOLIDATION, 6.05% FIXED, 10-YR TERM. |
| Loan Terms: |
Successful Dentist in Colorado looking to refinance her practice acquisition loan and wrap up her remaining equipment debt into one new low rate loan.
Conventional Dental Practice Loan structured to refinance original acquisition loan & equipment debt and include new working capital. Cash flow was increased by $2869 per month.
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Close Get Details Here
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$400K Pharmacy Practice Start-Up
Pharmacy Practice
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$400K Pharmacy Practice Start-Up
Pharmacy Practice
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| Scenario: |
$400K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM |
| Loan Terms: |
Two long time retail pharmacists looking to start-up their own compounding Pharmacy in Knoxville, Tennessee contacted 1st Med Financial. With their combined experience and detailed business plan, we immediately saw the potential in their request.
SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.
Closed: 11/27/2012 |
Close Get Details Here
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$681K Pharmacy Practice Debt Consolidation
Pharmacy Practice
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$681K Pharmacy Practice Debt Consolidation
Pharmacy Practice
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$681K PHARMACY LOAN REFINANCE, 6.00% FIXED, 15-YR TERM, 3-FIVE YEAR FIXED PERIODS. |
| Loan Terms: |
Successful Pharmacist looking to consolidate & refinance his original SBA Acquisition loan and seller held note to a low fixed rate conventional pharmacy loan.
Conventional Pharmacy Loan Financing structured to refinance original acquisition loan & seller note, loan related soft costs and minor working capital.
Closed: 09/10/2012 |
Close Get Details Here
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$503K Dental Practice Building Acquisition
Dental Practice
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$503K Dental Practice Building Acquisition
Dental Practice
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| Scenario: |
$503K DENTAL PRACTICE BUILDING ACQUISITION, 6.25% FIXED 25-YR TERM |
| Loan Terms: |
Successful Dentist with a proven existing practice was looking to acquire the building his practice occupied.
Buyer & Seller negotiated a short sale to purchase the building. A win-win situation for both sides.
100% SBA 7(a) Financing structured for the building acquisition, loan related soft costs & working capital for reserves.
Closed 08/20/2012 |
Close Get Details Here
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$495K Dental Practice Debt Refinance
Dental Practice
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$495K Dental Practice Debt Refinance
Dental Practice
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| Scenario: |
$495K DENTAL PRACTICE DEBT REFINANCE, 6.25% FIXED 10-YR TERM |
| Loan Terms: |
Successful Dentist looking to refinance his original practice acquisition loan and lower his monthly debt service.
SBA 7(a) Loan structured to refinance his current interest rate of 8.05% to 6.25%.
Increased monthly cash flow by $1750.
Closed: 08/20/2012 |
Close Get Details Here
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$350K Pharmacy Debt Consolidation
Pharmacy Practice
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$350K Pharmacy Debt Consolidation
Pharmacy Practice
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| Scenario: |
$350K PHARMACY PRACTICE DEBT CONSOLIDATION, 5.25% (PRIME + 2), 10-YR TERM |
| Loan Terms: |
Successful Pharmacist looking to refinance his start-up pharmacy loan to a lower rate and consolidate his current vendor debt.
SBA 7(a) Financing structured for start-up loan & vendor debt refinance, loan related soft costs.
Closed: 08/13/2012 |
Close Get Details Here
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$680K Veterinary Practice Start-Up
Veterinary Practice
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$680K Veterinary Practice Start-Up
Veterinary Practice
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| Scenario: |
$680K VETERINARY PRACTICE START-UP, 6.00% FIXED, 10-YEAR TERM |
| Loan Terms: |
Successful Veterinary Practitioner Husband & Wife Team with 10+ years of experience looking to start-up their own location. Had originally started their project with a large national bank. However, when the contractor estimated came in higher than expected, this bank would not increase the funding amount.
100% SBA 7(a) Financing Structured to take out the current loan and fund the complete project and include $60K in working capital.
Loan Proposal Issued 6/23/2012 |
Close Get Details Here
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$800K Veterinary Practice Acquisition
Veterinary Practice
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$800K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$800K VETERINARY PRACTICE ACQUISITION, 6.45% INT. RATE, 10-YEAR FIXED TERM |
| Loan Terms: |
Current Associate DVM looking to purchase the Veterinary Hospital he has been working at for the last 7-Years. He currently splits production 50/50 with the owner.
The selling DVM is 65 and is looking to stay on for 3 years and take a fixed salary of $150K. Production will still be split 50/50.
100% Conventional Practice Financing Structured with $75K in working capital for marketing & future growth.
Loan Proposal Issued 5/22/2012 |
Close Get Details Here
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$775K Veterinary Practice Acquisition
Veterinary Practice
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$775K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$775K VETERINARY PRACTICE ACQUISITION, 6.10% FIXED ADJ. EVERY 5-YRS, 15-YR TERM |
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Successful Veterinarian with two existing practice locations looking to acquire a third practice. She approached 1st Med looking for as close to 100% financing as possible.
100% Conventional Practice Financing Structured with $175K seller hold-back to acquire the practice plus and include $75K in working capital.
Closed 03/29/2012 |
Close Get Details Here
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$910K Optometry Practice RE Acquisition
Optometry Practice
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$910K Optometry Practice RE Acquisition
Optometry Practice
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| Scenario: |
$910K OPTOMETRY PRACTICE REAL ESTATE ACQUISITION & EXPANSION, 100% FINANCING, 5.75% (PRIME + 2.50), 25-YEAR TERM |
| Loan Terms: |
A successful Optometrist was approaching the end of her current lease and needed to decide to relocate or resign. She had her eye on an old building in town which has a perfect main street location. Enter 1st Med, we were able to structure the financing for the acquisition, demo & build-out.
100% Financing structured to refinance current practice debt, acquire the building, demo & build-out to suit and include all closing costs & third-party fees.
Closed 03/28/2012 |
Close Get Details Here
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$190K Dental Practice Debt Consolidation
Dental Practice
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$190K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$190K DENTAL PRACTICE DEBT REFI, 6.25%, 15-YR TERM |
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Successful Dentist looking to refinance his start-up practice loan to a lower rate and access to working capital to expand on his implant business.
Conventional 100% Financing structured for debt refinance, loan related soft costs and working capital for implant business.
Closed: 03/21/2012 |
Close Get Details Here
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$457,000 Optometry Practice Partner Buy-In
Optometry Practice
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$457,000 Optometry Practice Partner Buy-In
Optometry Practice
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| Scenario: |
$457K OPTOMETRY PRACTICE PARTNER BUY-IN, 6.25% FIXED ADJ. EVERY 5-YRS, 15-YR TERM |
| Loan Terms: |
Current associate OD working who had been working at the practice for a little over a year was offered a buy-in opportunity. The current owner was planning to retire in 5 years and planned to curtail his work load.
100% Conventional Practice Financing structured with $10K in working capital.
Commitment Issued 3/8/2012 |
Close Get Details Here
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$500K Dental Practice Expansion (2nd Location)
Dental Practice
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$500K Dental Practice Expansion (2nd Location)
Dental Practice
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| Scenario: |
$500K DENTAL PRACTICE EXPANSION, 100% FINANCING, 5.25% (PRIME + 2), 15-YEAR TERM |
| Loan Terms: |
Successful dental practitioner with a proven existing location came upon a great location near his home. He approached 1st Med looking to expand into this market with a 2nd location.
100% SBA 7(a) Financing structured to take-out current practice debt and allow for Tenant Improvements ($200K), Equipment ($100K) and Working Capital ($50K).
Closed 02/10/2012 |
Close Get Details Here
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$550K Optometry Practice Bldg. Acquisition
Optometry Practice
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$550K Optometry Practice Bldg. Acquisition
Optometry Practice
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| Scenario: |
$550K OPTOMETRY PRACTICE BUILDING, 6.00%, 100% FINANCING, 10-YEAR FIXED/25-YEAR TERM. |
| Loan Terms: |
Successful Optometrist with a proven existing practice was looking to acquire the building her practice occupied. She approached 1st Med looking for as close to 100% financing as possible.
100% SBA 7(a) Financing structured minus $10K for third-party reports.
Closed 02/10/2012 |
Close Get Details Here
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$855K Veterinary Practice Start-Up
Veterinary Practice
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$855K Veterinary Practice Start-Up
Veterinary Practice
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$855K VETERINARY PRACTICE START-UP, 6.50% FIXED, 18-YEAR TERM |
| Loan Terms: |
Former Veterinary Practice owner with 6+ years of management experience was looking to start-up an emergency clinic and purchase real estate to house the practice. After finding the perfect location for her practice, 1st Med was contacted.
100% SBA 7(a) Financing structured to buy the real estate, build-out to suit, new equipment, working capital & cover closing costs.
Loan Proposal Issued 1/26/2012 |
Close Get Details Here
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$950K Optometry Practice Acquisition
Optometry Practice
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$950K Optometry Practice Acquisition
Optometry Practice
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| Scenario: |
$950K OPTOMETRY PRACTICE ACQUISITION, 6.60%, 10-YEAR FIXED TERM |
| Loan Terms: |
A successful MS Optometrist with a mobile practice serving assisted living facilities was growing tired of the travel requirements. When she found an existing fixed location for sale, she contacted 1st Med Financial.
100% Conventional Practice Acquisition Financing structured to acquire the practice and all assets. Also included $100K in working capital to assist with new branding and the transition period.
Closed: 12/29/2011 |
Close Get Details Here
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$675K Pharmacy 2nd Location Expansion
Pharmacy Practice
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$675K Pharmacy 2nd Location Expansion
Pharmacy Practice
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| Scenario: |
$675K PHARMACY 2ND LOCATION EXPANSION, 100% FINANCING, 5.25% (PRIME + 2), 10-YEAR TERM |
| Loan Terms: |
Successful Pharmacy practitioner with a proven existing location looking to expand into a great retail location in a nearby city.
100% SBA 7(a) Financing structured to take-out current pharmacy debt and allow for Tenant Improvements ($100K), Inventory ($150K) and Working Capital ($250K).
Closed 10/23/2011 |
Close Get Details Here
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$600K Veterinary Practice & RE Acquisition
Veterinary Practice
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$600K Veterinary Practice & RE Acquisition
Veterinary Practice
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$600K VETERINARY PRACTICE & RE ACQUISITION, 100% FINANCING, 5.25% (PRIME + 2), 25-YEAR TERM |
| Loan Terms: |
Associate Vet looking to purhcase the real estate & practice she was had been working at for the past 3 years.
SBA 7(a) Proposal Issued
100% Financing (w/ 10% seller hold-back) structured for practice & real estate acquisition, loan related soft costs and $50K in working capital for growth.
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Close Get Details Here
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$170K Pharmacy Debt Consolidation & W. Cap
Pharmacy Practice
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$170K Pharmacy Debt Consolidation & W. Cap
Pharmacy Practice
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| Scenario: |
$170K PHARMACY DEBT CONSOLIDATION, 6.75%, 7-Yr. FIXED TERM |
| Loan Terms: |
Successful Pharmacist looking to consolidate SBA start-up loan, line of credit & increase capital on hand to help with compounding initiative.
Conventional 100% Financing structured for debt consolidation, loan related soft costs and working capital for compounding intiative.
Closed: 10/11/2011 |
Close Get Details Here
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$583K Dental Pract. Debt Consolidation
Dental Practice
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$583K Dental Pract. Debt Consolidation
Dental Practice
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| Scenario: |
$583K DENTAL PRACTICE DEBT CONSOLIDATION & W. CAP, 5.25% (PRIME + 2), 10-YEAR TERM |
| Loan Terms: |
Chicago Area Dentist 3 years into his growing practice looking to consolidate his start-up & other accumulated practice debt.
SBA 7(a) Loan structured to consolidate current debt (Patterson, LOC & Practice Credit Cards), working capital for marketing and growth with $30K on stand-by for new op in 2012.
Increased monthly cash flow by $3500.
Closed: 10/06/2011 |
Close Get Details Here
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$230K Dental Practice Partner Buy-Out
Dental Practice
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$230K Dental Practice Partner Buy-Out
Dental Practice
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| Scenario: |
$230K DENTAL PRACT. PARTNER BUY-OUT, 100% FINANCING, 6.75%, 7-YEAR FIXED TERM |
| Loan Terms: |
General Dentist with two locations looking to buy-out partner who needed to move due to family reason.
Conventional 100% Financing structured for partner buy-out, loan related soft costs and working capital for growth & marketing.
Closed: 9/15/2011 |
Close Get Details Here
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$805K Dental Practice Start-Up (2nd Location)
Dental Practice
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$805K Dental Practice Start-Up (2nd Location)
Dental Practice
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| Scenario: |
$805K DENTAL START-UP, 100% FINANCING, 6.97%, 10-YEAR FIXED TERM |
| Loan Terms: |
Successful New England area Dentist looking to expand his practice with a 2nd location as a child focused medicaid general practice.
100% Conventional Financing structured for new Equipment Acquisition, Leasehold Improvements, Merchandise & Working Capital.
Closed 09/20/2011 |
Close Get Details Here
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$325K Pharmacy Debt Consolidation
Pharmacy Practice
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$325K Pharmacy Debt Consolidation
Pharmacy Practice
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| Scenario: |
$325K PHARMACY PRACTICE DEBT CONSOLIDATION, 5.25% (PRIME + 2), 10-YEAR FULLY AMORTIZED TERM |
| Loan Terms: |
Succesful owner of 2 Pharmacy loacations in Texas looking to consolidate practice debt($325K).
SBA 7(a) Loan Proposal Issued:
Financing structured to consolidated all practice debt
Re-Amortized over 10 years at 5.25% (Prime + 2) resulting in a reduced monthly payment and increased cash flow. |
Close Get Details Here
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$1.1MM Dental Practice Debt Consolidation
Dental Practice
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$1.1MM Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$1.1MM DENTAL PRACTICE DEBT CONSOLIDATION, 6.75%, 15-YEAR FIXED TERM |
| Loan Terms: |
Sucessful Dentist looking to refinance and consolidate his current practice debt (practice acquisition & equipment = $1.1MM).
Conventional Practice Loan Proposal Issued:
Financing structured to consolidate all practice debt
Re-Amortized over 15 years at 6.75% Fixed resulting in a monthly cash flow increase of $4,456. ($53,472 p/yr.) |
Close Get Details Here
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$1.9MM Dental Bldg. Construction Project
Dental Practice
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$1.9MM Dental Bldg. Construction Project
Dental Practice
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| Scenario: |
$1.9MM DENTAL BUILDING CONSTRUCTION PROJECT, 5.25% (Prime + 2), 25-YEAR TERM. |
| Loan Terms: |
Successful General Dentist looking to acquire land and construct a new dental office for his 2nd location.
SBA 7(a) Propsoal Issued:
100% financing structured to purchase land, construct new building, purchase furniture, fixtures, and equipment, refinance existing practice debt and to provide working capital and loan related soft costs.
12-month interest only during construction followed by P&I payments. |
Close Get Details Here
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$550K Dental Practice Debt Consolidation
Dental Practice
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$550K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$550K DENTAL PRACTICE DEBT CONSOLIDATION, 6.45%, 7-YEAR FIXED TERM |
| Loan Terms: |
General Dentist in Laredo, TX three years into a successful start-up looking to refinance and consolidate his start-up loan and 3 subsequent Patterson equipment loans ($550K).
Conventional Practice Loan Proposal Issued:
Financing structured to consolidated all practice debt
Re-Amortized over 7 years at 6.45% Fixed resulting in a reduced monthly payment and an accellerated paydown of debt. |
Close Get Details Here
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$700K Veterinary Practice Acquisition
Veterinary Practice
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$700K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$700K VETERINARY PRACTICE ACQ, 100% FINANCING, 6.875%, 5-YEAR FIXED RESETTING/15-YEAR TERM |
| Loan Terms: |
Associate Vet looking to purhcase the practice she was currently working at
Conventional 100% Financing structured for practice acquisition, loan related soft costs and working capital for growth.
Closed: 6/30/2011 |
Close Get Details Here
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$301K Veterinary Practice Debt Refinance
Veterinary Practice
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$301K Veterinary Practice Debt Refinance
Veterinary Practice
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| Scenario: |
$301K VETERINARY PRACTICE DEBT REFINANCE, 6.875%, 5-YEAR FIXED RESETTING/15-YEAR TERM |
| Loan Terms: |
Successful Emergency Veterinary Practitioner looking to restructure his debt to increase cash flow with a lower rate and longer term.
Conventional Practice Financing structured to refinance debt, loan related soft costs and working capital for growth. New loan was placed on a 15-Yr. Fully Amortized term leading to an extra $1488 p/month.
Closed: 6/30/2011 |
Close Get Details Here
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$1.09MM Optometry Practice Relocation
Optometry Practice
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$1.09MM Optometry Practice Relocation
Optometry Practice
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| Scenario: |
$675K OPTOMETRY PRACTICE RELOCATION, 99% FINANCING, 6.00% (PRIME + 2.75), 25-YEAR TERM |
| Loan Terms: |
Successful Husband & Wife Optometrist team with a two existing locations looking to relocate one of them to the main thoroughfare in town and increase exposure.
99% SBA 7(a) Financing ($10K borrower injection) structured to take-out current practice debt ($240K), Purchase Real Estate ($275K), New Bldg. Construction ($535K) and cover loan related closing costs. |
Close Get Details Here
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$550K Pharmacy Start-Up Loan
Pharmacy Practice
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$550K Pharmacy Start-Up Loan
Pharmacy Practice
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| Scenario: |
$550K PHARMACY PRACTICE START-UP, 5.75% (PRIME + 2.50), 10-YEAR TERM |
| Loan Terms: |
Husband & Wife Pharmacsits looking to leave their current positions at the local Walmart and start-up their own independant practice.
SBA 7(a) Start-Up Loan structured to provide Leasehold Improvements, FF&E Acquisition, Inventory Acquisition from McKesson, Working Capital & loan related soft costs.
Closed: 6/08/2011 |
Close Get Details Here
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$270K Dental Practice Debt Consolidation & Equipment Acquisition
Dental Practice
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$270K Dental Practice Debt Consolidation & Equipment Acquisition
Dental Practice
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| Scenario: |
$270K DENTAL PRACTICE DEBT CONSOLIDATION & EQUIPMENT ACQ, 6.00% (PRIME + 2.75), 10-YEAR TERM |
| Loan Terms: |
Successful Dental Practice needing to update equipment & consolidate current debt.
SBA 7(a) Loan structured to consolidate current debt, acquire new state of the art equipment from Henry Schein and include working capital for growth & marketing.
Closed: 5/27/2011 |
Close Get Details Here
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$835K Dental Practice Debt Refinance
Dental Practice
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$835K Dental Practice Debt Refinance
Dental Practice
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| Scenario: |
$835K DENTAL PRACTICE DEBT CONSOLIDATION, 5.125%, 3-YEAR FIXED/10-YEAR TERM |
| Loan Terms: |
Successful dental practice looking to refinance to lower interest rate and increase cash flow.
SBA 7(a) Loan Proposal Issued: Financing structured to refinance all practice debt
Re-amortized over 10 years at 5.125% resulting in a 65% monthly debt service reduction ($4,806). |
Close Get Details Here
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$1.44MM Veterinary Practice Real Estate Construction
Veterinary Practice
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$1.44MM Veterinary Practice Real Estate Construction
Veterinary Practice
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| Scenario: |
$1.44MM VETERINARY PRACTICE BLDG CONSTRUCTION, 5.86% BLENDED SBA 504, 22.5 YEAR TERM |
| Loan Terms: |
A successful DVM running a two doctor practice needing to expand to accomodate growth.
SBA 504 Loan Proposal Issued:
Financing structured at 90% LTV to acquire land, construction of new building, FF&E acquisition, new equipment, and loan related soft costs. |
Close Get Details Here
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$875K Dental Practice Expansion
Dental Practice
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$875K Dental Practice Expansion
Dental Practice
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| Scenario: |
$875K DENTAL PRACTICE EXPANSION, 5.25%, 10 YEAR TERM. |
| Loan Terms: |
Successful Perio dental practitioner had outgrown her current location. She entered into a new lease with her current landlord doubling the size of the practice, but was unable to find financing.
Enter 1st Med Financial. We were able to refinance her current debt, include all leasehold improvements, new equipment and working capital.
Closed: 4/20/2011 |
Close Get Details Here
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$450K Optometry Practice Relocation/Expansion
Optometry Practice
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$450K Optometry Practice Relocation/Expansion
Optometry Practice
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| Scenario: |
$450K OPTOMETRY PRACTICE RELOCATION, 6.00% 4-YEAR FIXED/10-YEAR TERM |
| Loan Terms: |
Successful Husband & Wife Optometry practice looking to expand and relocate their current practice from a 2260 sf. location to a 3650 sf. location.
SBA 7(a) Loan Proposal Issued:
90% Financing structured for Tenant Improvements, New Equipment & Working Capital. |
Close Get Details Here
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$955K Dental Practice & RE Debt Consolidation
Dental Practice
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$955K Dental Practice & RE Debt Consolidation
Dental Practice
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| Scenario: |
$955K DENTAL PRACTICE & RE DEBT CONSOLIDATION, 4.75%, 3-YEAR FIXED RESETTING/25-YEAR TERM |
| Loan Terms: |
Successful Dental Practitioner who owned the building he operates out of looking to increase cash flow by reducing interest rate and consolidating loans.
Financing structured to consolidate all practice and real estate debt and re-amortize over 25-Years resulting in a $4,281 increase to monthy cash flows.
Closed: 2/28/2011 |
Close Get Details Here
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$980K Dentist Office Bldg Refinance
Dental Practice
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$980K Dentist Office Bldg Refinance
Dental Practice
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| Scenario: |
$980K DENTIST OFFICE BLDG REFINANCE, 4.88% (PRIME + 1.63), 25-YEAR TERM |
| Loan Terms: |
Successful Dental Practitioner & Consultant looking to refinance his current office building and take advantage of the SBA Fee Waiver Stimulus.
Financing structured to refinance real estate debt and re-amortize over 25-Years at 4.88% resulting in a $4k boost to monthly cash flow.
Closed: 2/24/2011 |
Close Get Details Here
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$1.63MM Dental Practice Debt Consolidation
Dental Practice
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$1.63MM Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$1.63MM DENTAL PRACTICE DEBT CONSOLIDATION, 5.25%, 25 YEAR TERM |
| Loan Terms: |
Chicago area dental practice occupying two separate locations (Orland & Chicago) with a combined 5400 sf. w/ 2 associates and 10 employees.
Financing structured to consoidate all real estate & practice debt
Re-amortized over 25 years at 5.25% resulting in a 59% debt service reduction ($6,897).
Closed: 2/24/2011
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Close Get Details Here
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$375K Dental Practice Expansion w/Debt Consoldation
Dental Practice
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$375K Dental Practice Expansion w/Debt Consoldation
Dental Practice
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| Scenario: |
$375K DENTAL PRACTICE EXPANSION & DEBT CONSOLIDATION, 5.25% 100% FINANCING. 25-YEAR TERM |
| Loan Terms: |
Dentist w/ existing practice (5-Years) was presented with an opportunity to purhchase a Bank REO Bldg. to house his practice.
SBA 7(a) Loan Proposal Issued:
Structured 100% Financing for real estate acquisistion, consolidate equipment & practice debts and provided working capital for growth. |
Close Get Details Here
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$800K Veterinary Practice Acquisition
Veterinary Practice
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$800K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$800K VETERINARY PRACT. ACQUISTION, 8.00% 15-YEAR FIXED TERM. 100% FINANCING W/ 10% SELLER HELD 2ND. INCLUDED $50K IN WORKING CAP. |
| Loan Terms: |
Experienced Veterinarian from NY looking to purhcase a practice and relocate to S. Florida.
Structured Conventional 100% Financing for practice acquisition, loan related soft costs and working capital for growth.
Closed in 30 days: 1/30/2011 |
Close Get Details Here
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$3MM Dental Practice Debt Consolidation
Dental Practice
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$3MM Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$3.05MM DENTAL PRACTICE DEBT & REAL ESTATE DEBT CONSOLIDATION, 5.25%, 25-YEAR TERM |
| Loan Terms: |
Successful Dental Practitice doing ~2 Mil in collectoins looking to consolidate Practice & Real Estate Debt.
125% LTV Financing structured to consolidate all practice & real estate debt with an SBA 7(a) Loan.
Re-amortized over 25 years at 5.25% resulting in a 15% debt service reduction
Closed: 1/27/2011 |
Close Get Details Here
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$806K Dental Practice Debt Consolidation
Dental Practice
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$806K Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$806K DENTAL PRACTICE DEBT CONSOLIDATION, 4.88% (PRIME + 1.63). 10-YEAR TERM |
| Loan Terms: |
Dental Practice Debt Consolidation
SBA 7(a) Loan Commitment Issued:
Financing Structured to consolidate equipment & practice debts.
Re-amortized over 10 years at 4.88% resulting in a 68% debt service reduction |
Close Get Details Here
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$1MM Veterinary Practice Acquisition
Veterinary Practice
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$1MM Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$1MM 100% FINANCING CONVENTIONAL VET PRACTICE ACQUISITION. 7.10% 5/5 10-YEAR TERM. NO SELLER HOLD BACK NECESSARY. FUNDED IN LESS THAN 30 DAYS. |
| Loan Terms: |
Associate Vet looking to purhcase the practice she was currently working at (5 years), A small animal 24Hr. Animal Emergency Clinic 98%.
Structured Conventional 100% Financing for practice acquisition, loan related soft costs and working capital for growth.
Closed in 30 days: 12/30/2010 |
Close Get Details Here
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$985,000 Dental Practice Debt Consolidation
Dental Practice
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$985,000 Dental Practice Debt Consolidation
Dental Practice
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| Scenario: |
$985K CONVENTIONAL PRACTICE LOAN DEBT CONSOLIDATION. 7.0% 10 YEAR TERM/15 YEAR AMORT. |
| Loan Terms: |
1800 sf leased space with 5 operatories. Reduced Montlhy Debt Service by $3445. |
Close Get Details Here
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$564K Dental Practice Acquisition w/ Real Estate
Dental Practice
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$564K Dental Practice Acquisition w/ Real Estate
Dental Practice
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| Scenario: |
$564K VETERINARY PRACTICE ACQUISITION, 5.25% 95% FINANCING ($25K Injection). 25-YEAR TERM |
| Loan Terms: |
Associate Dentist looking to acquire the practice he was currently employed at. He was also looking to acquire the Bank Owned real estate which housed the practice simultaneously.
SBA 7(a) Loan Proposal Issued:
95% Financing (25K Injection) structured for Practice Acquisition, Real Estate Acquisition Working Capital and Loan Related Soft Costs.
25 Year fully amortizing loan |
Close Get Details Here
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$1.31MM Dental Practice Expansion w/ Debt Consolidation
Dental Practice
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$1.31MM Dental Practice Expansion w/ Debt Consolidation
Dental Practice
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| Scenario: |
$1.31MM DENTAL PRACTICE EXPANSION, 5.25% 90% FINANCING, 10-YEAR TERM. |
| Loan Terms: |
Dentist looking to purchase a local competitor and merge the acquired practice with his current one.
SBA 7(a) Loan Proposal Issued:
Financing Structured for practice acquisition & to consolidated current practice debt at closing simultaniously. |
Close Get Details Here
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$667K Dental Practice Acquisition
Dental Practice
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$667K Dental Practice Acquisition
Dental Practice
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| Scenario: |
$667K DENTAL PRACTICE ACQUISITION, 5.35% 100% FINANCING W/ SELLER HELD 2ND (10%). 10-YEAR TERM |
| Loan Terms: |
Associate Dentist looking to purchase the practice he currently works at.
SBA 7(a) Loan Proposal Issued:
100% Financing structured for practice acquisition, working capital and loan related soft costs.
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Close Get Details Here
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$525K Pharmacy Debt Consolidation
Healthcare Practice
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$525K Pharmacy Debt Consolidation
Healthcare Practice
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| Scenario: |
$525K PHARMACY DEBT CONSOLIDATION, 5.25% (PRIME + 2), 10-YEAR FULLY AMORTIZED TERM. |
| Loan Terms: |
Pharmacy Practice Debt Consolidation
SBA 7(a) Loan Proposal Issued:
Financing Structured to consolidate equipment & business start-up debts and provided working capital for growth
Re-amortized over 10 years at 5.25% resulting in a 67% debt service reduction |
Close Get Details Here
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$675K Veterinary Practice Acquisition
Veterinary Practice
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$675K Veterinary Practice Acquisition
Veterinary Practice
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| Scenario: |
$675K VETERINARY PRACTICE ACQUISITION, 5.25% 100% FINANCING W/ SELLER HELD 2ND(25%). 10-YEAR TERM |
| Loan Terms: |
Associate Vet looking to acquire the practice she had been working at for the past 5-Years.
SBA 7(a) Loan Proposal Issued:
100% Financing (25% seller held 2nd) structured for Practice Acquisition, Working Capital and Loan Related Soft Costs. |
Close Get Details Here
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$1.03MM Dental Office Bldg. Purchase
Dental Practice
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$1.03MM Dental Office Bldg. Purchase
Dental Practice
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| Scenario: |
$1.03MM DENTAL OFFICE BLDG. REO PURCHASE 5.25% $2,000 DOWN. 25-YEAR AMORT. INCLUDED $475K BLDG., $125K BUILD-OUT, $100K NEW EQUIP., $250k IN PRACTICE DEBT REFI, AND 50K IN WORKING CAP. |
| Loan Terms: |
Dentist w/ existing practice was presented with an opportunity to purhchase a Bank REO Bldg. to house his practice.
Structured 98% Financing for real estate acquisistion, consolidate equipment & practice debts and provided working capital for growth.
Closed in 45 days: 5/19/2010 |
Close Get Details Here
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1st Med Advantages
 48 Hour Pre-Approvals |
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| Direct Industry Knowledge |
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| Streamlined Closing Process |
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| No Up-Front or APP Fees Ever! |
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Recent Testimonial
"We recently closed a practice acquisition loan and a real estate loan with Mike Furlong and 1st Med Financial. Having shopped the deal with several local banks and other medical lending institutions, we knew that the conditions and circumstances of the deal were far from ideal.
Mike provided the insight and experienced needed to not only obtain financing, but at rates and terms that far surpassed our expectations. Mike was an absolute pleasure to work with and we would highly recommend him to anyone looking for medical financing."
Dr. Kayla Shipman, DVM
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