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| How to Finance a Practice Purchase? | ||
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With an average personal credit score (650+) you can generally secure 100% financing for your practice purchase. | |
| PMA uses Bank of America Practice Solutions as our preferred lender. | ||
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They offer superb service, competitive rates and flexible programs designed to help you purchase the practice you want. | |
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Contact Mr. Matthew Scherer at 866-488-0428 for more information | |
| Pre approval | ||
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It is extremely helpful to have your loan “pre-approved” so that sellers know you can fund the purchase – especially if there are multiple buyers looking at the same practice. | |
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It also speeds up the process if you have the following items ready to be activated at the time you close the sale: | |
| i. Life Insurance Policy ii. Disability Insurance (or office overhead insurance) iii. A Property and Casualty Insurance Agent |
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Depending on the size of the loan, many lenders will require some or all of the above to be in place before releasing funds. | |
| Of course, please call us if you have questions about ANY aspect of purchasing a practice. We’re here to help. | ||
