Practice Loan Details
| Date: |
September 26, 2017 |
| Title: |
$1.58MM Pharmacy Expansion |
| Practice Type: |
Pharmacy Practice |
| Loan Terms: |
$1.58MM PHARMACY EXPANSION, 6.50%, (Prime + 2.50%), 10-YEAR TERM |
| Scenario: |
A successful pharmacy in the Baltimore, MD was looking to move to a larger facility. They also wanted to purchase new equipment, including a machine for filling and labeling of syringes. They were having a difficult time getting financing for a couple of reasons. They only had one historical year that showed enough cash flow to service the debt. They were also being told by lenders that they were growing too quickly.
At 1st Med Financial we saw that the pharmacy was very strong and that the owner and managers had a firm understanding of their business plan. A lot of research and planing was done and they were not just jumping into the expansion.
100% SBA 7(a) Practice Financing Structured to provide for the expansion into a new facility, equipment and additional working capital.
Closed: 9/26/2017 |
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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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