September 15, 2014

Optometry Practice

An Optometrist associate was looking to purchase the practice he was currently working at. The practice is located in Ohio and was very successful.

The doctor approached 1st Med Financial for help. He had a couple of credit issues in his past and needed help securing financing. We were able to help him overcome his past credit history and get the loan closed.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $50K.

Closed: 09/15/2014

$800K OPTOMETRY PRACTICE ACQUISITION, 5.87%, 12-YEAR TERM - FIXED RATE FOR 6 - YEAR TERM; ADJUSTS AND LOCKS FOR REMAINING 6 YEARS