Closings Modal| $1.99MM Optometry Practice Debt Consolidation

Date:

April 30, 2014

Practive Type:

Optometry Practice

Scenario:

An experienced Optometrist was looking to refinance both of his practice's debt and consolidate into one easy to manage loan.

The optometrist had a total of nine separate loans or leases outstanding including two seller notes from when he bought out his partners. At 1st Med, we saw the value in consolidating all the loans from both a cash flow and management perspective.

100% SBA 7(a) Practice Financing Structured to provide for the consolidation of all the practices outstanding debt.

Closed: 04/30/2014

Loan Terms:

$1.99MM OPTOMETRY PRACTICE DEBT CONSOLIDATION, 6.00%, (Prime + 2.75%), 10-YEAR TERM