The dentists came to 1st Med Financial for help since the bank that gave them their start-up loan was not willing to extend them additional credit to purchase the 2nd practice. 1st Med had numerous conversations with the doctors to understand their ultimate goals and get them the best financing possible.
When talking with the doctors 1st Med realized that they have future plans of growth and would like to purchase and start-up additional practices in the future. This was very important when deciding which lenders to use.
We wanted to make sure that the partners would not have issues purchasing practices in the future and also provide a good rate and term at the same time.
100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, refinance of their start-up loan & working capital.
Closed: 03/04/2016.
Please contact one of our experienced pracitce loan advisors at 800-318-7125.