$600K Dental Practice Acquisition

Date:
November 09, 2018
Practice Type:
Dental Practice
Loan Scenario:
A successful Dentist located in Texas was looking to buy the practice he was currently associating at.

The problem that this dentist was having was that all the banks he went to wanted the owners to continue to be guarantors on the loan because they had multiple practices that were cross-collateralized with a this practice and others.

They obviously were not willing to do that if they were no longer going to be owners. That is when he came to 1st Med Financial.

We were able to understand what the borrower was trying to do. We found the right lender who was willing to make the loan at a reasonable rate with out any other stipulations. We were even able to include a larger working capital portion which would help the new owner during the transition.

Conventional Dental Practice Financing structured to purchase the practice and additional working capital.

Closed: 11/9/2018

Loan Terms:
$600K DENTAL PRACTICE ACQUISITION. 5.25%, 10-YEAR TERM - FIXED RATE

Contact one of our experienced Practice Loan Advisors at (800) 318-7125.