| Date: |
September 19, 2016 |
| Title: |
$825K Podiatry Practice & CRE Acquisition |
| Practice Type: |
Healthcare Practice |
| Loan Terms: |
$825K PODIATRY PRACTICE & CRE ACQUISITION & WORKING CAPITAL, 6.25% (Prime + 2.75), 25-YEAR TERM |
| Scenario: |
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 |
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