February 28, 2019

Dental Practice

A Orthodontist in Inidana was looking to purchase the practice he was currently associating at. He was looking for 100% financing and also requesting additional working capital. The issue the doctor was running into with other lenders was that he had a bankruptcy in the past and they were having a difficult time getting past that.

That is when he contacted 1st Med Financial. After multiple conversations, we were able to dig into the bankruptcy and explain that it was directly due to the housing bubble that hit this one town particularly hard during the financial crisis. This allowed us to get the doctor the financing he was looking for.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital.

Closed: 02/28/2019.

$1.41MM ORTHODONTIST PRACTICE ACQUISITION, 5.75%, 10 YEAR TERM - FIXED RATE