Dentist is looking to get 100% business financing. He is purchasing the office in Massachusetts For $1.4 mil and no real estate in this deal, just the business.
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Dentist is looking to get 100% business financing. He is purchasing the office in Massachusetts For $1.4 mil and no real estate in this deal, just the business.
This is what the SBA was designed for. I'm assuming it's a dentist who's purchasing another dentist office?
My understanding is 100% financing is if there is commercial real estate.
Otherwise business purchase financing is usually 10% down and 10% working capital.
Thank you for your replays. Dentist is looking for a lender that does 100% practice financing and not a 7A SBA loan.
That would suggest your client does not have the financial documents to support a $1.4M Loan
We will assume he has not or cannot go to his local banker.
Therefore, we are now into hard money lender options - your client has to be able to produce financials that
will support the payments on this note.
If they do not Have the financials I might have some ideas and products for you. Please send me a private message if you are interested.
I greatly appreciate it olderguy!