September 19, 2016

Healthcare Practice

An experienced podiatrist was looking to purchase the practice that he has been working at for a number of years. The owner was looking to sell the practice and the commercial real estate in one transaction. The issue the doctor was having, was that he needed 100% financing. He was having a difficult time finding a loan to cover 100% of the price when the real estate was involved. That is when he came to 1st Med Financial.

We were able to structure the deal in one loan for 100% financing. We were also able to get the loan amortized over 25 years and include over $75K in working capital to help with the transition.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition of the podiatry practice, commercial real estate and working capital needs.

Closed: 09/19/2016

$825K PODIATRY PRACTICE & CRE ACQUISITION & WORKING CAPITAL, 6.25% (Prime + 2.75), 25-YEAR TERM