Practice Loan Details
| Date: |
November 03, 2015 |
| Title: |
$2.48MM Pharmacy Construction Project |
| Practice Type: |
Pharmacy Practice |
| Loan Terms: |
$2.48MM PHARMACY REAL ESTATE CONSTRUCTION, 5.05%, 25-YEAR TERM, FIXED RATE |
| Scenario: |
An experienced Pharmacist was looking to purchase land and construct a new pharmacy that he could relocate his already successful pharmacy to . The new location was in a high traffic area and will be able to be seen from a major roadway.
The pharmacist had started talks with the developer when he contacted 1st Med Financial. We discussed his available options and made sure that the project would be viable from both a cash flow and time-frame perspective.
100% SBA 7(a) Practice Financing structured to purchase land, construct new building, purchase furniture, fixtures, working capital and loan related soft costs.
An interest reserve was included until the construction is completed and will then be followed by P&I payments.
Closed: 11/03/2015 |
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1st Med Advantages
 48 Hour Pre-Approvals |
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| Direct Industry Knowledge |
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| Streamlined Closing Process |
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| No Up-Front or APP Fees Ever! |
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