The problem he was having was that he could not find a lender that could provide a conventional loan on both the practice and commercial real estate. That is when he came to 1st Med Financial.
Most lenders require a maximum of 80% loan to value on the real estate and it is difficult to refinance SBA loans because of this. We were able to break up the financing into 2 separate loans. We included the 20% needed on the real estate in the practice loan.
Conventional Dental Practice Financing structured to to refinance the CRE loan and to refinance the practice loan.
Closed: 12/13/2018
Please contact one of our experienced pracitce loan advisors at 800-318-7125.