The issue he was having was that in prior years he had to take out a number of working capital loans. These loans were short term and had high interest rates. He fell into the cycle where every 9 to 12 months he would need to refinance them with similar loans. Even though his practice was very successful he was having a cash flow problem because of the very high payments. He was also having a hard time consolidating into one loan with a longer term at a fair interest rate. That is when he came to 1st Med Financial.
We worked with the dentist and were able to consolidate the loans into one easy payment of $13,500 a month. This saved him over $17,000 a month in cash flow or $204,000 annually.
SBA 7(a) Dental Practice Financing Structured to refinance all outstanding debt, business credit cards and working capital.
Closed: 09/03/2016
Please contact one of our experienced pracitce loan advisors at 800-318-7125.