Recent Closed Transactions

Dec

28

2018

Virginia Dental Practice
Dental Practice
Dec

28

2018

Virginia Dental Practice
Dental Practice
Scenario: The sellers of a very successful General Dentistry practice in Gainesville, VA contacted 1st Med Transitions looking to sell their practice.

The practice showed an increasing collection trend over $2 Million.

At 1st Med Transitions, we saw the opportunity this practice provided to the right buyer / buying group/

After creating a marketing buzz and generating multiple offers, we were able to find the perfect fit.

- Practice Listed for $1.85MM - Practice Sold for $2.47MM - Close Date: 12/28/2018

Loan Terms: Click Here For Details

Close             
Aug

31

2018

Illinois Retail Pharmacy
Pharmacy Practice
Aug

31

2018

Illinois Retail Pharmacy
Pharmacy Practice
Scenario: The seller of an Independent Retail Pharmacy contacted 1st Med Transitions looking to sell the business.

- Pharmacy Listed for $150K - Practice Sold for $150K - Close Date: 8/31/2018

Loan Terms: Click Here For Details

Close             
Jun

25

2018

Texas Dental Practice
Dental Practice
Jun

25

2018

Texas Dental Practice
Dental Practice
Scenario: The seller of a successful General Dentistry practice in Fort Worth, TX, with 50 % of Medicaid patients contacted 1st Med Transitions looking to sell her practice.

The practice consistently showed collections of $700K+.

At 1st Med Transitions, we saw the opportunity this practice provided to the right doctor.

After creating a marketing buzz and reviewing the practice with over 40 potential buyers, we were able to find the perfect fit.

- Practice Listed for $525K - Practice Sold for $515K - Close Date: 6/23/2018

Loan Terms: Click Here For Details

Close             
Jun

13

2018

Texas Pharmacy License
Pharmacy Practice
Jun

13

2018

Texas Pharmacy License
Pharmacy Practice
Scenario: Sale of Pharmacy License & Third-Party Contracts. No Patient Files.

- Practice Listed for $250K - Practice Sold for $225K - Close Date: 6/13/2018

Loan Terms: Click Here For Details

Close             
Mar

20

2018

Texas Retail Pharmacy
Pharmacy Practice
Mar

20

2018

Texas Retail Pharmacy
Pharmacy Practice
Scenario: The seller of a Community Retail Pharmacy in rural Texas contacted 1st Med Transitions looking to sell the business.

The Pharmacy was located in a very rural town of roughly 1500 - 2000 population.

At 1st Med Transitions, we saw the opportunity this provided to the right pharmacist looking to owner-operate in a small town setting.

After creating a marketing buzz and reviewing the practice with over 50 potential buyers, we were able to find the perfect fit.

- Practice Listed for $350K - Practice Sold for $315K - Close Date: 3/20/2018

Loan Terms: Click Here For Details

Close             
Mar

05

2018

Texas Dental Practice
Dental Practice
Mar

05

2018

Texas Dental Practice
Dental Practice
Scenario: The seller of a General Dentistry practice in Houston, TX, with a high % of Medicaid patients contacted 1st Med Transitions looking to sell her practice.

The practice had historically had collections of ~$300K, but recenlty popped to $500K+. Although the most recent tax return verifying had not been filed yet.

At 1st Med Transitions, we saw the opportunity this practice provided to the right doctor.

After creating a marketing buzz and reviewing the practice with over 40 potential buyers, we were able to find the perfect fit.

- Practice Listed for $350K - Practice Sold for $300K - Close Date: 3/05/2018

Loan Terms: Click Here For Details

Close             
Feb

09

2018

Maryland Dental Practice
Dental Practice
Feb

09

2018

Maryland Dental Practice
Dental Practice
Scenario: The seller of a this General Dentistry practice in Rockville, MD contacted 1st Med Transitions looking to sell her practice.

The practice was only started up 3+ years ago, but experienced nice growth year over year.

The question was how to accurately price this practice. Due to the year over year growth, it was tough to value the practice solely of tax returns. We determined that a trailing 12-month financial statement would better reflect the true value of the practice.

After creating a marketing buzz and reviewing the practice with over 30 potential buyers, we were able to find the perfect fit.

- Practice Listed for $575K - Practice Sold for $535K - Close Date: 2/9/2018

Loan Terms: Click Here For Details

Close             
Aug

31

2017

Texas Dental Practice
Dental Practice
Aug

31

2017

Texas Dental Practice
Dental Practice
Scenario: The seller of a General Dentistry practice in Allen, TX contacted 1st Med Transitions looking to sell her practice.

There were some hurdles to overcome, specifically the market saturation and declining revenue due to seller health concerns.

At 1st Med Transitions, we saw the opportunity this practice provided to the right doctor.

After creating a marketing buzz and reviewing the practice with over 50 potential buyers, we were able to find the perfect fit.

- Practice Listed for $525K - Practice Sold for $515K - Close Date: 8/31/2017

Loan Terms: Click Here For Details

Close             
Dec

09

2016

Texas Dental Practice
Dental Practice
Dec

09

2016

Texas Dental Practice
Dental Practice
Scenario: The seller of a Sleep Apnea practice in San Antonio, TX contacted 1st Med Transitions looking to sell his practice.

He was unsure of the valuation due to the specialty nature of the business and the larger than normal margins.

At 1st Med Transitions, we saw the opportunity this practice provided to the right doctor.

We were able to secure a buyer who felt the same way and was willing to pay 100% of collections.

- Practice Listed for $799K - Practice Sold for $725K - Close Date: 12/9/2016

Loan Terms: Click Here For Details

Close             
Dec

14

2015

$1.0MM Pharmacy Acquisition
Pharmacy Practice
Dec

14

2015

$1.0MM Pharmacy Acquisition
Pharmacy Practice
Scenario: An experienced pharmacist was looking to purchase the independent pharmacy that she has been working at for a number of years. She had already been turned down by multiple lenders and was not very hopeful of getting the acquisition closed. That is when she came to 1st Med for one last chance.

The main thing holding her back was a prior bankruptcy and a credit issue that arose a couple of years back.

At 1st Med we were able to see that the client has proven to become financially responsible and that the credit issue was more of an oversight by the student loan company then her fault. We helped communicate all of this information with the underwriters to make sure that she got a fair chance at financing.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition of the pharmacy along with working capital needs.

Closed: 12/14/2015

Loan Terms: $725K Independent Pharmacy Sale

Close             
Oct

09

2015

$670K Pharmacy Acquisition (Including Real Estate)
Pharmacy Practice
Oct

09

2015

$670K Pharmacy Acquisition (Including Real Estate)
Pharmacy Practice
Scenario: Three experienced pharmacist were looking to purchase an additional independent pharmacy. The three partners already owned numerous pharmacies in neighboring towns and saw an opportunity when the seller decided to retire.

Even though none of the partners were going to work full time at the new pharmacy and they already had existing debt on their current practices, we were able to get them financing.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition for both the pharmacy and the real estate along with working capital needs.

Closed: 10/09/2015

Loan Terms: $670K INDEPENDENT PHARMACY ACQUISITION

Close             
Jul

24

2015

$430K Optometry Practice Acquisition
Optometry Practice
Jul

24

2015

$430K Optometry Practice Acquisition
Optometry Practice
Scenario: An experienced Optometrist was looking to purchase a practice for a number of years but was not having any luck and a number of deals fell through.

The doctor approached 1st Med Financial for help. Initially we got her an approval for another practice, but due to some unforeseen issues with the seller, that deal fell through.

She decided to keep in touch with 1st Med Financial and regularly sent us information on practices that went up for sale. We advised her and provided feedback on the practices from both a financing and valuation standpoint.

When she found the right practice for her, we were able to get her approved for financing very quickly and provide guidance throughout the process all the way through closing.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $30K.

Closed: 07/24/2015

Loan Terms: $430K OPTOMETRY PRACTICE ACQUISITION, 5.75%, 10 YEAR TERM - FIXED RATE

Close             
Jul

14

2015

$910K Dental Practice 4th Location Acquisition
Dental Practice
Jul

14

2015

$910K Dental Practice 4th Location Acquisition
Dental Practice
Scenario: A very successful Dentist was looking to purchase additional practices in neighboring towns and cities from his current practices. 1st Med Financial had already secured financing for two other practices that the doctor purchased in April 2015. The Dentist, currently has an opportunity to purchase a practice for $1.2 million. The doctor only needed financing for $910K since the seller would be staying on and holding a second note on the practice.

The doctor felt very comfortable coming back to 1st Med Financial. We already helped him get loans on two other practices. The doctor appreciated the level of advice and expertise that 1st Med Financial provided on his previous deals.

1st Med Financial worked with the doctor and all affiliated parties to get financing in a very short time frame.

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

Closed: 07/14/2015

Loan Terms: $910K DENTAL PRACTICE 4TH LOCATION ACQUISITION, 5.68%, 10 YEAR FIXED TERM

Close             
Jun

26

2015

$320K Dental Practice Acquisition
Dental Practice
Jun

26

2015

$320K Dental Practice Acquisition
Dental Practice
Scenario: A general dentist in Texas who had over 20 years of experience decided to finally take the leap and purchase a practice about 100 miles from his current home. He had the opportunity to purchase a practice for $290K and would also need an additional $30K for working capital during the transition.

The doctor came to 1st Med Financial for help since there were a couple of hurdles that he needed to get over in order to get financing. The main issue was that the practice being purchased had a little bit of a downward trend in collections over the last couple of years. 1st Med Financial was able to see that the main reasons for this trend was the selling dentist was getting ready to retire and was referring out almost all specialty work.

Since the purchasing dentist was proficient in most of the procedures being referred out, we were able to show that revenues would increase when he took over. 1st Med Financial worked with the doctor, the seller, and all affiliated parties to get over these hurdles.

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

Closed: 06/26/2015

Loan Terms: $320K DENTAL PRACTICE ACQUISITION, 5.75%, 10 YEAR FIXED RATE & TERM

Close             
May

06

2015

General Dental Practice
Dental Practice
May

06

2015

General Dental Practice
Dental Practice
Scenario: A successful Dentist in Mississippi was looking to purchase the building where he was currently leasing space.

Unfortunately he was already turned down by a bank and thought that purchasing the real estate might not be possible. He decided to give 1st Med Financial a call even though he did not expect much. To his surprise he was able to obtain an financing for the purchase of the building, and the consolidate his practice debt.

SBA 7(a) Practice Financing structured to purchase the real estate and consolidate the practice debt along with loan related soft costs.

Closed 05/06/2015

Loan Terms: $1.6MM General Dental Practice RE Sale

Close             
Apr

22

2015

$200K Dental Practice 4th Location Acquisition
Dental Practice
Apr

22

2015

$200K Dental Practice 4th Location Acquisition
Dental Practice
Scenario: A very successful Dentist was looking to purchase additional practices in neighboring towns and cities from his other practices. He had a great opportunity to purchase his 4th overall practice for $200K.

The doctor came to 1st Med Financial for help since there were a couple of issues that he needed to get over in order to get financing. We were already working with him on getting his 3rd practice acquisition and he had recently purchased two other practices in the last 12 months.

The other issue was to make sure that the Doctor was not growing too big too fast. We analyzed his global cash flow to make sure this additional acquisition made sense.

1st Med Financial worked with the doctor and all affiliated parties to get over these hurdles.

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

Closed: 04/22/2015

Loan Terms: $200K DENTAL PRACTICE 4TH LOCATION ACQUISITION, 5.68%, 10 YEAR FIXED TERM

Close             
Apr

22

2015

$715K Dental Practice 3rd Location Acquisition
Dental Practice
Apr

22

2015

$715K Dental Practice 3rd Location Acquisition
Dental Practice
Scenario: A very successful Dentist was looking to purchase additional practices in neighboring towns and cities from his other practices.

The doctor came to 1st Med Transitions for help since there were a couple of hurdles that he needed to get over in order to acquire the practice. He had recently purchased two practices in the last 12 months and he was finding it difficult to get additional financing. The other issue was understanding the doctor's business plan and get comfortable that this practice was a good fit for him.

1st Med worked with the doctor and all affiliated parties to get over these hurdles.

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

Closed: 04/22/2015

Loan Terms: $715K DENTAL PRACTICE 3RD LOCATION ACQUISITION, 5.68%, 10 YEAR FIXED TERM

Close             
Mar

27

2015

$600K Optometry Practice Acquisition
Optometry Practice
Mar

27

2015

$600K Optometry Practice Acquisition
Optometry Practice
Scenario: An Optometrist associate was looking to purchase the practice he was currently working at two days a week.

The doctor approached 1st Med for help. He had a couple of credit issues in his past and needed help securing financing. He was already turned down from two large banks.

After numerous conversations with the doctor we were able to understand that what happened to his credit was a couple of unfortunate events that were out of his control.

We were able to help him overcome his past credit history and get the loan closed.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $50K.

Closed: 03/27/2015

Loan Terms: $600K OPTOMETRY PRACTICE ACQUISITION, 5.94%, 10 YEAR TERM - FIXED RATE

Close             
Mar

23

2015

$680K Dental Practice RE Construction Project
Dental Practice
Mar

23

2015

$680K Dental Practice RE Construction Project
Dental Practice
Scenario: An experienced Dentist was looking to purchase land and construct a new office so he could relocate his practice. The timing of the deal was important as he wanted to close and construct the new building and have 1 to 2 months left on his current lease. This would allow him to have enough time to help with the transition. He was also looking for $50K for new equipment and $20K for working capital.

The Dentist had started talks with the developer when he contacted 1st Med. We discussed his available options and made sure that the project would be viable from both a cash flow and time-frame perspective.

100% Financing structured to purchase land, construct new building, new equipment, working capital and loan related soft costs.

12-month interest only followed by P&I payments.

Closed: 03/23/2015

Loan Terms: $680K DENTAL PRACTICE REAL ESTATE CONSTRUCTION, 6.00%, 25-YEAR TERM, 5-Year Fixed Resets at Prime + 2.75%

Close             
Jan

09

2015

$550K Dental Practice Acquisition
Dental Practice
Jan

09

2015

$550K Dental Practice Acquisition
Dental Practice
Scenario: A recent dental school graduate (6 months out) was working as an associate for a practice in Arkansas. He had the opportunity to purchase the practice for $500K and would also need an additional $50K for working capital during the transition.

The doctor came to 1st Med for help since there were a couple of hurdles that he needed to get over in order to get financing. The main issue was that the doctor only had 6 months experience as an associate. The plan was also to assume the current mortgage for the dental office building from the seller at closing. 1st Med Financial worked with the doctor and all affiliated parties to get over these hurdles.

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

Closed: 01/09/2015

Loan Terms: $550K DENTAL PRACTICE ACQUISITION, 5.94%, 10 YEAR TERM - FIXED RATE

Close             
Jan

05

2015

$550K Oral Surgery 2nd Practice Acquisition
Dental Practice
Jan

05

2015

$550K Oral Surgery 2nd Practice Acquisition
Dental Practice
Scenario: An experienced oral surgeon who owned a practice in Wisconsin was looking to purchase a second practice about 2-3 hours driving distance from his current location.

The doctor came to 1st Med Financial for help. The plan was to split his time at both practices. He would have an associate work a couple days at his current practice. Mean while, the selling doctor would work as an associate at the second practice for a contracted period of time.

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

Closed: 01/15/2015

Loan Terms: $550K ORAL SURGERY SECOND PRACTICE ACQUISITION, 5.68%, 10 YEAR TERM - FIXED RATE

Close             
Sep

15

2014

$800K Optometry Practice Acquisition
Optometry Practice
Sep

15

2014

$800K Optometry Practice Acquisition
Optometry Practice
Scenario: An Optometrist associate was looking to purchase the practice he was currently working at. The practice is located in Ohio and was very successful.

The doctor approached 1st Med Financial for help. He had a couple of credit issues in his past and needed help securing financing. We were able to help him overcome his past credit history and get the loan closed.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $50K.

Closed: 09/15/2014

Loan Terms: $800K OPTOMETRY PRACTICE ACQUISITION, 5.87%, 12-YEAR TERM - FIXED RATE FOR 6 - YEAR TERM; ADJUSTS AND LOCKS FOR REMAINING 6 YEARS

Close             
Aug

29

2014

$2MM Pharmacy Acquisition
Pharmacy Practice
Aug

29

2014

$2MM Pharmacy Acquisition
Pharmacy Practice
Scenario: An experienced pharmacist who owned a minority share of two separate pharmacies had an opportunity to buy-out the majority owners.

The pharmacist wanted to bring in an additional partner as well. The hurdle that new owners were facing was the large accounts payable to the vendor and they would need a large portion of the loan as working capital to pay off the debt.

At 1st Med, we saw that the two pharmacies were very profitable and that with the additional working capital the transition would go smoothly.

95% SBA 7(a) Practice Financing Structured to provide for the acquisition of both pharmacies along working capital needs to.

Closed: 08/29/2014

Loan Terms: $2.0MM PHARMACY ACQUISITION, 5.25%, (Prime + 2.00%), 10-YEAR TERM

Close             
Jul

10

2014

$330K Pharmacy Practice Start-Up
Pharmacy Practice
Jul

10

2014

$330K Pharmacy Practice Start-Up
Pharmacy Practice
Scenario: Having trouble securing the necessary financing, the Pharmacist contacted 1st Med Financial. We saw the value in the PharmD's experience and in the under serviced community he was looking to start-up in.

1st Med was able to secure the financing he needed to start-up his practice.

SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.

Loan Terms: $330K PHARMACY PRACTICE START-UP, 6.00% (PRIME + 2.75), 10-YEAR TERM

Close             
Jun

27

2014

$2.45MM Oral Surgery Practice Acquisition
Dental Practice
Jun

27

2014

$2.45MM Oral Surgery Practice Acquisition
Dental Practice
Scenario: An oral surgeon associate was looking to purchase the practice he was currently working at. The practice consisted of two locations in NJ and was very successful.

The doctor came to 1st Med Financial for help. We were able to close the loan within 60 days of the initial conversation.

100% Conventional Practice Acquisition Financing structured to cover the practice assets, goodwill, & working capital of $150K.

Closed: 06/27/2014

Loan Terms: $2.45MM ORAL SURGERY PRACTICE ACQUISITION, 5.75%, 15-YEAR TERM - FIXED RATE FOR 5 - YEAR TERM; ADJUSTS EVERY 5 YEARS

Close             
Jun

20

2014

$1.9MM PET & Medical Imaging Practice Acquisition
Medical Practice
Jun

20

2014

$1.9MM PET & Medical Imaging Practice Acquisition
Medical Practice
Scenario: A Nuclear Medicine Resident was looking to purchase a successful PET & Medical Imaging Practice in NY. The acquisition was scheduled to take place just days after the doctor finished his residency.

It was crucial to have the loan approved in advance and all the conditions met prior to closing as time was of the essence. 1st Med assisted the doctor throughout the process and was able to structure the acquisition accordingly including $250K in working capital.

SBA 7(a) Practice Financing Structured to provide for the acquisition of the PET & Imaging Practice along with working capital needs.

Closed: 06/20/2014

Loan Terms: $1.9MM PET & MEDICAL IMAGING PRACTICE ACQUISITION, 5.25%, (Prime + 2.00%), 10-YEAR TERM

Close             
Jun

18

2014

$350K Pharmacy Practice Start-Up
Pharmacy Practice
Jun

18

2014

$350K Pharmacy Practice Start-Up
Pharmacy Practice
Scenario: An experienced Pharmacist and his wife were looking to start-up their own Pharmacy in an upscale shopping center located in Greely, CO.

Having trouble securing the necessary financing, they contacted 1st Med Financial. We saw the value in the PharmD's experience and business plan. 1st Med was able to secure the financing they needed to start-up their dream practice.

SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.

Closed: 06/18/2014

Loan Terms: $350K PHARMACY PRACTICE START-UP, 6.00% (PRIME + 2.75), 10-YEAR TERM

Close             
Jul

23

2013

$802K Optometry Practice Partner Buy-Out
Optometry Practice
Jul

23

2013

$802K Optometry Practice Partner Buy-Out
Optometry Practice
Scenario: An Associate Optometrist was looking to buy-out his partner. Due to an outstanding lien from a previous business venture the Doctor was having a difficult time receiving financing on favorable terms.

He approached 1st Med to see if there were any financing options available for his situation.

100% Conventional Practice Buy-Out Financing structured to cover the practice assets, goodwill, outstanding lien on previous business venture & working capital.

Loan Terms: $802K OPTOMETRY PRACTICE ACQUISITION, 6.22%, 10-YEAR FIXED TERM

Close             
Jul

10

2013

$750K Dental Practice Acquisition
Dental Practice
Jul

10

2013

$750K Dental Practice Acquisition
Dental Practice
Scenario: An experienced dentist was looking to purchase a pediatric practice approximately 200 miles from his current home. After receiving sub par financing offers from major banks, he came to 1st Med for help.

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

Closed: 07/10/2013

Loan Terms: $750K DENTAL PRACTICE ACQUISITION, 5.43%, 10-YEAR TERM - FIXED RATE FOR 5 - YEAR TERM; ADJUSTS EVERY 5 YEARS

Close             
Jun

06

2013

$1.58MM Optometry Practice Relocation
Optometry Practice
Jun

06

2013

$1.58MM Optometry Practice Relocation
Optometry Practice
Scenario: A successful Columbus, OH Optometrist with multiple locations had an opportunity to purchase a foreclosed building at a major discount and relocate his practice.

He contacted 1st Med and inquired about the financing options available for him.

100% SBA 7(a) Practice Financing Structured to provide for the acquisition of the new building, build-out, equipment and working capital needs.

Closed 06/06/2013

Loan Terms: $1.588MM OPTOMETRY PRACTICE RELOCATION, 4.50% (Prime + 1.25), 25-YEAR TERM

Close             
May

06

2013

$503K Dental Practice Expansion
Dental Practice
May

06

2013

$503K Dental Practice Expansion
Dental Practice
Scenario: A previous client of 1st Med was ready to expand his practice into the 2nd half of the building he purchased a year ago. Of course we were happy to help.

100% SBA 7(a) Practice Financing Structured to provide for 4 new fully-equipped operatories and new waiting area.

Closed: 5/06/2013

Loan Terms: $503K DENTAL PRACTICE EXPANSION, 5.50%, 10-YEAR FIXED TERM

Close             
Apr

25

2013

$1.05MM Veterinary Practice & RE Acquisition
Veterinary Practice
Apr

25

2013

$1.05MM Veterinary Practice & RE Acquisition
Veterinary Practice
Scenario: A successful Banfield Associate was looking to purchase her own practice in Oregon. She contacted 1st Med when she heard about our 100% financing options.

She was given the opportunity to acquire a strong practice and real estate from a retiring doctor. Although she had minimal capital available to inject, we were able get her approved for 100% financing that was needed to complete the transaction.

100% SBA 7(a) Practice Financing Structured with $50K in working capital for marketing & future growth.

Closed: 4/25/2013

Loan Terms: $1.05MM VETERINARY PRACTICE & RE ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM

Close             
Apr

05

2013

$200K Veterinary Practice Acquisition
Veterinary Practice
Apr

05

2013

$200K Veterinary Practice Acquisition
Veterinary Practice
Scenario: An experienced Florida Veterinarian looking to purchase a practice from a retiring Vet approached 1st Med for help.

She approached multiple lending sources locally, but was having issues receiving financing due to the downward trends of the practice.

We saw the value in her experience and were able to move quickly.

100% Conventional Practice Acquisition Financing Structured with working capital included for marketing & future growth.

Closed 4/05/2013

Loan Terms: $200K VETERINARY PRACTICE ACQUISITION, 6.68% INT. RATE, 10-YEAR FIXED TERM

Close             
Mar

29

2013

$220K Pharmacy Practice Start-Up
Pharmacy Practice
Mar

29

2013

$220K Pharmacy Practice Start-Up
Pharmacy Practice
Scenario: An experienced long-term Walmart Pharmacist looking to start-up her own Pharmacy inside a upscale independant grocery store located in Baton Rouge, LA.

Having trouble securing the necessary financing, she contacted 1st Med Financial. We worked with her on her business plan and projections and were able to secure the financing she needed.

SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.

Closed: 03/29/2013

Loan Terms: $220K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM

Close             
Feb

19

2013

$450K Optometry Practice Acquisition
Optometry Practice
Feb

19

2013

$450K Optometry Practice Acquisition
Optometry Practice
Scenario: An Associate Optometrist was looking to purchase the practice she was currently working 4 days per week at. After receiving sub par financing from her local banks, she approached 1st Med for help.

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

Closed 2/19/2013

Loan Terms: $450K OPTOMETRY PRACTICE ACQUISITION, 5.95%, 10-YEAR FIXED TERM

Close             
Feb

08

2013

$620K Pharmacy Practice Start-Up
Pharmacy Practice
Feb

08

2013

$620K Pharmacy Practice Start-Up
Pharmacy Practice
Scenario: When two experienced former healthcare professionals were looking to start-up a new compounding pharmacy concept in Chicago, IL, they were referred to 1st Med Financial.

The partners were looking to create a platform for small & independent pharmacies to access much needed compounding services.

SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.

Closed: 2/08/2013

Loan Terms: $620K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM

Close             
Nov

27

2012

$400K Pharmacy Practice Start-Up
Pharmacy Practice
Nov

27

2012

$400K Pharmacy Practice Start-Up
Pharmacy Practice
Scenario: Two long time retail pharmacists looking to start-up their own compounding Pharmacy in Knoxville, Tennessee contacted 1st Med Financial. With their combined experience and detailed business plan, we immediately saw the potential in their request.

SBA 7(a) Pharmacy Loan Financing structured to build-out, stock inventory, include necessary working capital and cover loan related soft costs.

Closed: 11/27/2012

Loan Terms: $400K PHARMACY PRACTICE START-UP, 5.25% (PRIME + 2), 10-YEAR TERM

Close             
Aug

20

2012

$503K Dental Practice Building Acquisition
Dental Practice
Aug

20

2012

$503K Dental Practice Building Acquisition
Dental Practice
Scenario: Successful Dentist with a proven existing practice was looking to acquire the building his practice occupied.

Buyer & Seller negotiated a short sale to purchase the building. A win-win situation for both sides.

100% SBA 7(a) Financing structured for the building acquisition, loan related soft costs & working capital for reserves.

Closed 08/20/2012

Loan Terms: $503K DENTAL PRACTICE BUILDING ACQUISITION, 6.25% FIXED 25-YR TERM

Close             
May

22

2012

$801K Veterinary Practice Acquisition
Veterinary Practice
May

22

2012

$801K Veterinary Practice Acquisition
Veterinary Practice
Scenario: Current Associate DVM looking to purchase the Veterinary Hospital he has been working at for the last 7-Years. He currently splits production 50/50 with the owner.

The selling DVM is 65 and is looking to stay on for 3 years and take a fixed salary of $150K. Production will still be split 50/50.

100% Conventional Practice Financing Structured with $75K in working capital for marketing & future growth.

Loan Proposal Issued 5/22/2012

Loan Terms: $800K VETERINARY PRACTICE ACQUISITION, 6.45% INT. RATE, 10-YEAR FIXED TERM

Close             
Mar

29

2012

$775K Veterinary Practice Acquisition
Veterinary Practice
Mar

29

2012

$775K Veterinary Practice Acquisition
Veterinary Practice
Scenario: Successful Veterinarian with two existing practice locations looking to acquire a third practice. She approached 1st Med looking for as close to 100% financing as possible.

100% Conventional Practice Financing Structured with $175K seller hold-back to acquire the practice plus and include $75K in working capital.

Closed 03/29/2012

Loan Terms: $775K VETERINARY PRACTICE ACQUISITION, 6.10% FIXED ADJ. EVERY 5-YRS, 15-YR TERM

Close             
Mar

28

2012

$910K Optometry Practice RE Acquisition
Optometry Practice
Mar

28

2012

$910K Optometry Practice RE Acquisition
Optometry Practice
Scenario: A successful Optometrist was approaching the end of her current lease and needed to decide to relocate or resign. She had her eye on an old building in town which has a perfect main street location. Enter 1st Med, we were able to structure the financing for the acquisition, demo & build-out.

100% Financing structured to refinance current practice debt, acquire the building, demo & build-out to suit and include all closing costs & third-party fees.

Closed 03/28/2012

Loan Terms: $910K OPTOMETRY PRACTICE REAL ESTATE ACQUISITION & EXPANSION, 100% FINANCING, 5.75% (PRIME + 2.50), 25-YEAR TERM

Close             
Mar

08

2012

$457,000 Optometry Practice Partner Buy-In
Optometry Practice
Mar

08

2012

$457,000 Optometry Practice Partner Buy-In
Optometry Practice
Scenario: Current associate OD working who had been working at the practice for a little over a year was offered a buy-in opportunity. The current owner was planning to retire in 5 years and planned to curtail his work load.

100% Conventional Practice Financing structured with $10K in working capital.

Commitment Issued 3/8/2012

Loan Terms: $457K OPTOMETRY PRACTICE PARTNER BUY-IN, 6.25% FIXED ADJ. EVERY 5-YRS, 15-YR TERM

Close             
Feb

10

2012

$500K Dental Practice Expansion (2nd Location)
Dental Practice
Feb

10

2012

$500K Dental Practice Expansion (2nd Location)
Dental Practice
Scenario: Successful dental practitioner with a proven existing location came upon a great location near his home. He approached 1st Med looking to expand into this market with a 2nd location.

100% SBA 7(a) Financing structured to take-out current practice debt and allow for Tenant Improvements ($200K), Equipment ($100K) and Working Capital ($50K).

Closed 02/10/2012

Loan Terms: $500K DENTAL PRACTICE EXPANSION, 100% FINANCING, 5.25% (PRIME + 2), 15-YEAR TERM

Close             
Feb

10

2012

$550K Optometry Practice Bldg. Acquisition
Optometry Practice
Feb

10

2012

$550K Optometry Practice Bldg. Acquisition
Optometry Practice
Scenario: Successful Optometrist with a proven existing practice was looking to acquire the building her practice occupied. She approached 1st Med looking for as close to 100% financing as possible.

100% SBA 7(a) Financing structured minus $10K for third-party reports.

Closed 02/10/2012

Loan Terms: $550K OPTOMETRY PRACTICE BUILDING, 6.00%, 100% FINANCING, 10-YEAR FIXED/25-YEAR TERM.

Close             
Jan

26

2012

$855K Veterinary Practice Start-Up
Veterinary Practice
Jan

26

2012

$855K Veterinary Practice Start-Up
Veterinary Practice
Scenario: Former Veterinary Practice owner with 6+ years of management experience was looking to start-up an emergency clinic and purchase real estate to house the practice. After finding the perfect location for her practice, 1st Med was contacted.

100% SBA 7(a) Financing structured to buy the real estate, build-out to suit, new equipment, working capital & cover closing costs.

Loan Proposal Issued 1/26/2012

Loan Terms: $855K VETERINARY PRACTICE START-UP, 6.50% FIXED, 18-YEAR TERM

Close             
Dec

29

2011

$950K Optometry Practice Acquisition
Optometry Practice
Dec

29

2011

$950K Optometry Practice Acquisition
Optometry Practice
Scenario: A successful MS Optometrist with a mobile practice serving assisted living facilities was growing tired of the travel requirements. When she found an existing fixed location for sale, she contacted 1st Med Financial.

100% Conventional Practice Acquisition Financing structured to acquire the practice and all assets. Also included $100K in working capital to assist with new branding and the transition period.

Closed: 12/29/2011

Loan Terms: $950K OPTOMETRY PRACTICE ACQUISITION, 6.60%, 10-YEAR FIXED TERM

Close             
Oct

23

2011

$675K Pharmacy 2nd Location Expansion
Pharmacy Practice
Oct

23

2011

$675K Pharmacy 2nd Location Expansion
Pharmacy Practice
Scenario: Successful Pharmacy practitioner with a proven existing location looking to expand into a great retail location in a nearby city.

100% SBA 7(a) Financing structured to take-out current pharmacy debt and allow for Tenant Improvements ($100K), Inventory ($150K) and Working Capital ($250K).

Closed 10/23/2011

Loan Terms: $675K PHARMACY 2ND LOCATION EXPANSION, 100% FINANCING, 5.25% (PRIME + 2), 10-YEAR TERM

Close             
Sep

15

2011

$805K Dental Practice Start-Up (2nd Location)
Dental Practice
Sep

15

2011

$805K Dental Practice Start-Up (2nd Location)
Dental Practice
Scenario: Successful New England area Dentist looking to expand his practice with a 2nd location as a child focused medicaid general practice.

100% Conventional Financing structured for new Equipment Acquisition, Leasehold Improvements, Merchandise & Working Capital.

Closed 09/20/2011

Loan Terms: $805K DENTAL START-UP, 100% FINANCING, 6.97%, 10-YEAR FIXED TERM

Close             
Aug

24

2011

$1.9MM Dental Bldg. Construction Project
Dental Practice
Aug

24

2011

$1.9MM Dental Bldg. Construction Project
Dental Practice
Scenario: Successful General Dentist looking to acquire land and construct a new dental office for his 2nd location.

SBA 7(a) Propsoal Issued:

100% financing structured to purchase land, construct new building, purchase furniture, fixtures, and equipment, refinance existing practice debt and to provide working capital and loan related soft costs.

12-month interest only during construction followed by P&I payments.

Loan Terms: $1.9MM DENTAL BUILDING CONSTRUCTION PROJECT, 5.25% (Prime + 2), 25-YEAR TERM.

Close             
Jun

30

2011

$700K Veterinary Practice Acquisition
Veterinary Practice
Jun

30

2011

$700K Veterinary Practice Acquisition
Veterinary Practice
Scenario: Associate Vet looking to purhcase the practice she was currently working at

Conventional 100% Financing structured for practice acquisition, loan related soft costs and working capital for growth.

Closed: 6/30/2011

Loan Terms: $700K VETERINARY PRACTICE ACQ, 100% FINANCING, 6.875%, 5-YEAR FIXED RESETTING/15-YEAR TERM

Close             
Jun

28

2011

$1.09MM Optometry Practice Relocation
Optometry Practice
Jun

28

2011

$1.09MM Optometry Practice Relocation
Optometry Practice
Scenario: Successful Husband & Wife Optometrist team with a two existing locations looking to relocate one of them to the main thoroughfare in town and increase exposure.

99% SBA 7(a) Financing ($10K borrower injection) structured to take-out current practice debt ($240K), Purchase Real Estate ($275K), New Bldg. Construction ($535K) and cover loan related closing costs.

Loan Terms: $675K OPTOMETRY PRACTICE RELOCATION, 99% FINANCING, 6.00% (PRIME + 2.75), 25-YEAR TERM

Close             
Jun

08

2011

$550K Pharmacy Start-Up Loan
Pharmacy Practice
Jun

08

2011

$550K Pharmacy Start-Up Loan
Pharmacy Practice
Scenario: Husband & Wife Pharmacsits looking to leave their current positions at the local Walmart and start-up their own independant practice.

SBA 7(a) Start-Up Loan structured to provide Leasehold Improvements, FF&E Acquisition, Inventory Acquisition from McKesson, Working Capital & loan related soft costs.

Closed: 6/08/2011

Loan Terms: $550K PHARMACY PRACTICE START-UP, 5.75% (PRIME + 2.50), 10-YEAR TERM

Close             
Apr

28

2011

$1.44MM Veterinary Practice Real Estate Construction
Veterinary Practice
Apr

28

2011

$1.44MM Veterinary Practice Real Estate Construction
Veterinary Practice
Scenario: A successful DVM running a two doctor practice needing to expand to accomodate growth.

SBA 504 Loan Proposal Issued:

Financing structured at 90% LTV to acquire land, construction of new building, FF&E acquisition, new equipment, and loan related soft costs.

Loan Terms: $1.44MM VETERINARY PRACTICE BLDG CONSTRUCTION, 5.86% BLENDED SBA 504, 22.5 YEAR TERM

Close             
Apr

20

2011

$875K Dental Practice Expansion
Dental Practice
Apr

20

2011

$875K Dental Practice Expansion
Dental Practice
Scenario: Successful Perio dental practitioner had outgrown her current location. She entered into a new lease with her current landlord doubling the size of the practice, but was unable to find financing.

Enter 1st Med Financial. We were able to refinance her current debt, include all leasehold improvements, new equipment and working capital.

Closed: 4/20/2011

Loan Terms: $875K DENTAL PRACTICE EXPANSION, 5.25%, 10 YEAR TERM.

Close             
Apr

05

2011

$450K Optometry Practice Relocation/Expansion
Optometry Practice
Apr

05

2011

$450K Optometry Practice Relocation/Expansion
Optometry Practice
Scenario: Successful Husband & Wife Optometry practice looking to expand and relocate their current practice from a 2260 sf. location to a 3650 sf. location.

SBA 7(a) Loan Proposal Issued:

90% Financing structured for Tenant Improvements, New Equipment & Working Capital.

Loan Terms: $450K OPTOMETRY PRACTICE RELOCATION, 6.00% 4-YEAR FIXED/10-YEAR TERM

Close             
Feb

08

2011

$375K Dental Practice Expansion
Dental Practice
Feb

08

2011

$375K Dental Practice Expansion
Dental Practice
Scenario: Dentist w/ existing practice (5-Years) was presented with an opportunity to purhchase a Bank REO Bldg. to house his practice.

SBA 7(a) Loan Proposal Issued:

Structured 100% Financing for real estate acquisistion, consolidate equipment & practice debts and provided working capital for growth.

Loan Terms: $375K DENTAL PRACTICE EXPANSION & DEBT CONSOLIDATION, 5.25% 100% FINANCING. 25-YEAR TERM

Close             
Jan

31

2011

$800K Veterinary Practice Acquisition
Veterinary Practice
Jan

31

2011

$800K Veterinary Practice Acquisition
Veterinary Practice
Scenario: Experienced Veterinarian from NY looking to purhcase a practice and relocate to S. Florida.

Structured Conventional 100% Financing for practice acquisition, loan related soft costs and working capital for growth.

Closed in 30 days: 1/30/2011

Loan Terms: $800K VETERINARY PRACT. ACQUISTION, 8.00% 15-YEAR FIXED TERM. 100% FINANCING W/ 10% SELLER HELD 2ND. INCLUDED $50K IN WORKING CAP.

Close             
Dec

30

2010

$1MM Veterinary Practice Acquisition
Veterinary Practice
Dec

30

2010

$1MM Veterinary Practice Acquisition
Veterinary Practice
Scenario: Associate Vet looking to purhcase the practice she was currently working at (5 years), A small animal 24Hr. Animal Emergency Clinic 98%.

Structured Conventional 100% Financing for practice acquisition, loan related soft costs and working capital for growth.

Closed in 30 days: 12/30/2010

Loan Terms: $1MM 100% FINANCING CONVENTIONAL VET PRACTICE ACQUISITION. 7.10% 5/5 10-YEAR TERM. NO SELLER HOLD BACK NECESSARY. FUNDED IN LESS THAN 30 DAYS.

Close             
Oct

22

2010

$564K Dental Practice Acquisition w/ Real Estate
Dental Practice
Oct

22

2010

$564K Dental Practice Acquisition w/ Real Estate
Dental Practice
Scenario: Associate Dentist looking to acquire the practice he was currently employed at. He was also looking to acquire the Bank Owned real estate which housed the practice simultaneously.

SBA 7(a) Loan Proposal Issued:

95% Financing (25K Injection) structured for Practice Acquisition, Real Estate Acquisition Working Capital and Loan Related Soft Costs.

25 Year fully amortizing loan

Loan Terms: $564K VETERINARY PRACTICE ACQUISITION, 5.25% 95% FINANCING ($25K Injection). 25-YEAR TERM

Close             
Sep

20

2010

$1.31MM Dental Practice Expansion
Dental Practice
Sep

20

2010

$1.31MM Dental Practice Expansion
Dental Practice
Scenario: Dentist looking to purchase a local competitor and merge the acquired practice with his current one.

SBA 7(a) Loan Proposal Issued:

Financing Structured for practice acquisition & to consolidated current practice debt at closing simultaniously.

Loan Terms: $1.31MM DENTAL PRACTICE EXPANSION, 5.25% 90% FINANCING, 10-YEAR TERM.

Close             
Aug

04

2010

$667K Dental Practice Acquisition
Dental Practice
Aug

04

2010

$667K Dental Practice Acquisition
Dental Practice
Scenario: Associate Dentist looking to purchase the practice he currently works at.

SBA 7(a) Loan Proposal Issued:

100% Financing structured for practice acquisition, working capital and loan related soft costs.

Loan Terms: $667K DENTAL PRACTICE ACQUISITION, 5.35% 100% FINANCING W/ SELLER HELD 2ND (10%). 10-YEAR TERM

Close             
Jun

17

2010

$675K Veterinary Practice Acquisition
Veterinary Practice
Jun

17

2010

$675K Veterinary Practice Acquisition
Veterinary Practice
Scenario: Associate Vet looking to acquire the practice she had been working at for the past 5-Years.

SBA 7(a) Loan Proposal Issued:

100% Financing (25% seller held 2nd) structured for Practice Acquisition, Working Capital and Loan Related Soft Costs.

Loan Terms: $675K VETERINARY PRACTICE ACQUISITION, 5.25% 100% FINANCING W/ SELLER HELD 2ND(25%). 10-YEAR TERM

Close             
May

19

2010

$1.03MM Dental Office Bldg. Purchase
Dental Practice
May

19

2010

$1.03MM Dental Office Bldg. Purchase
Dental Practice
Scenario: Dentist w/ existing practice was presented with an opportunity to purhchase a Bank REO Bldg. to house his practice.

Structured 98% Financing for real estate acquisistion, consolidate equipment & practice debts and provided working capital for growth.

Closed in 45 days: 5/19/2010

Loan Terms: $1.03MM DENTAL OFFICE BLDG. REO PURCHASE 5.25% $2,000 DOWN. 25-YEAR AMORT. INCLUDED $475K BLDG., $125K BUILD-OUT, $100K NEW EQUIP., $250k IN PRACTICE DEBT REFI, AND 50K IN WORKING CAP.

Close             

 

 

**some transactions listed completed through our sister company, 1st Med Financial

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