July 24, 2015

Optometry Practice

An experienced Optometrist was looking to purchase a practice for a number of years but was not having any luck and a number of deals fell through.

The doctor approached 1st Med Financial for help. Initially we got her an approval for another practice, but due to some unforeseen issues with the seller, that deal fell through.

She decided to keep in touch with 1st Med Financial and regularly sent us information on practices that went up for sale. We advised her and provided feedback on the practices from both a financing and valuation standpoint.

When she found the right practice for her, we were able to get her approved for financing very quickly and provide guidance throughout the process all the way through closing.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $30K.

Closed: 07/24/2015

$430K OPTOMETRY PRACTICE ACQUISITION, 5.75%, 10 YEAR TERM - FIXED RATE