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Healthcare and Professional Services Success Stories

1. Healthcare Practice, Chicago: $16,000,000

First American Bank’s relationship with this practice began several years ago with issuing a Stand-by Letter of Credit facility as credit support for a taxable bond where the proceeds were used for the purchase of two medical office/surgical center properties and related equipment.  The facility has grown as the practice expanded and renovated these properties.  The amortization/payment structure has been modified over the years to maximize cash flow to the doctors.  In addition, we provided a working capital line of credit and have extended several equipment term loans as well as personal mortgages for the individual doctors and associates.  The practice debt is currently structured without requiring personal guarantees of the professionals due to the strength of the borrower, cash flow and overall relationship.

2. Multiple Healthcare Practice, Suburban Chicago: $6,200,000

This financing request originally came from a consortium of doctor practices who were interested in construction and end loan financing for a multi-practice medical office condominium building.  First American customized the structure for each end loan to best fit the cash flow needs of each practice.  For the various medical practices, we have supplied working capital lines of credit, equipment and leasehold term loans, 100% financing of practice buy-ins by new associates as well as wealth management and residential mortgage financing for the individual doctors and associates.

3. Law Firm, South Florida: $2,300,000

This relationship encompasses both the personal and professional side of the firm.  In addition to supplying the firm with a working capital line of credit, the bank also has personal lines of credit to each of the partners and residential mortgages and personal accounts to the partners and associates.  The bank also manages the retirement accounts of the partners, structuring the investment portfolios to their individual needs.

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