Closings Modal| $726K Pharmacy Acquisition

Date:

June 22, 2016

Practice Type:

Pharmacy Practice

Loan Scenario:

An experienced corporate pharmacist was looking to purchase an independent pharmacy in New York City. He was having a difficult time finding financing and that is when he came to 1st Med Financial.

The main thing holding him back was the fact that the cash flow on the pharmacy was a little tight. At 1st Med we were able to see the potential for growth that the Pharmacist's expertise would bring when he became the owner. He was going to be able to offer new services and this helped make the underwriters feel more comfortable.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition of the pharmacy along with working capital needs.

Closed: 06/22/2016

Loan Terms:

$726K PHARMACY ACQUISITION, 6.25%, (Prime + 2.75%), 10-YEAR TERM