The issue that the doctor was having was that he could only find an SBA option for 100% financing. He was not happy with the SBA terms and conditions. That is when he came to 1st Med financial.
After reviewing the practice, 1st Med spotted an opportunity for the doctor. Since the practice was very successful we were able to move some of the debt that was going to go on the purchase of the real estate onto the practice. This allowed us to get the LTV to an acceptable range to get conventional financing for the commercial real estate.
Conventional Optometry Practice Financing structured to to refinance the practice purchase the CRE.
Closed: 10/17/2017
Contact one of our experienced Practice Loan Advisors at (800) 318-7125.