April 06, 2016

Dental Practice

A successful Dentist who already had a thriving practice was looking for working capital to update his second practice which he had recently purchased.

The dentists came to 1st Med Financial for help because all the banks that he was dealing with were not able to provide a working capital loan without having a 1st lien position on his 1st practice.

1st Med Financial was able to secure the dentist a working capital loan that was in a secondary lien position. The rate and term were still very competitive with a standard practice loan.

100% SBA 7(a) Practice Financing Structured to provide working capital needs.

Closed: 04/06/2016.

$150K DENTAL PRACTICE WORKING CAPITAL, 6.25%, (Prime + 3.00%), 10-YEAR TERM