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looking for Investor or Loan Guarantor for Practice Purchase
Posted by: Susan Cole on 1/17/2012 4:49:38 PM
Funding Needed:
Under $100k 		Category:
Healthcare & Medical / Pharma 		Website :
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Location :
Denver area, USA 		Viewed : 480 times
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Description:
I was very successful as a Chiropractor in another state. I owned and ran a solo practice which averaged $280,000 in gross sales yearly for 12 years, and which I sold for $197,500 in ‘97. I can show records of this.
I have come home recently to Colorado and found a 15 years established practice for sale here in the Denver area, which has a net cash flow, after expenses, of $6800 per month. I have done a lot of due diligence on this business, including looking at many other offices, and I am a perfect fit for it. I wouldn’t consider it otherwise.

It has been growing steadily for the last 3 years. l feel I can double it, but it is profitable just as it is.

The seller has offered to carry $ 28,000 and we are real close to an agreement. I am needing to come up with $60,000. This includes my working capital for the new owner transition period.

Let me know what interest rate payment you'd be happy to receive in return for cosigning. Or, perhaps you'd prefer to lend directly, with a lien on the office and it's accounts Receivables?
I have found a Savings & Loan which will lend with a strong co-signer. They said with a steady payment history they could likely release the co-signer in 18 months.

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