June 21, 2017

Dental Practice

A successful Pediatric Dentist in Georgia was looking to start-up a second location and purchase the commercial real estate simultaneously. Unfortunately he was having a difficult time finding financing. The issue he was running into was that he only started up his 1st location about 12 months prior to this project.

That is when he came to 1st Med Financial. After having multiple conversations with the Dentist, we saw that in just 6 months of his 1st practice he was already averaging over $90K in monthly collections. The city he was looking to open the 2nd location was extremely undeserved. After working through projections with the owner, not only were we able to get him financing for the practice start-up and the office building but we also secured him working capital to help make sure he would be successful.

100% SBA 7(a) Practice Financing Structured to provide for the purchase of the office building, improvements, equipment and working capital needs.

$1.1MM DENTAL PRACTICE 2ND LOCATION START UP & RE ACQUISITION, 6.25% (Prime + 2.25), 25-YEAR TERM