| Date: |
June 27, 2016 |
| Title: |
$500K Dental Practice 4th Location Acquisition |
| Practice Type: |
Dental Practice |
| Loan Terms: |
$500K DENTAL PRACTICE 4TH LOCATION ACQUISITION, 4.86%, 10 YEAR FIXED TERM |
| Scenario: |
A very successful Dentist in Arizona was looking to purchase an additional practice in neighboring town from his current practices. The Dentist already owned 3 practices and used one bank to finance all of them. When he went to that bank for additional financing they turned him down and said he was capped out with them.
The Dentist decided to come to 1st Med Financial because everywhere else he went to, they required that he refinance the current practice debt as well. This was out of the question because the pre-payment penalty would be almost $100K and the he was not willing to pay that.
1st Med Financial has access to a number of different practice financing programs. 1st Med Financial was able to get the Dentist Financing at a low 4.86% interest rate fixed for 10 years. There was no requirement to refinance his current practice loans.
Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill & working capital..
Closed: 06/27/2016 |
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