March 26, 2020
As the financial impact of COVID-19 spreads, CMAC Partners is committed to safeguarding the fiscal health of the medical professionals who care for our communities.
In our new three-point program, CMAC’s expert team will provide complimentary financial assessment and analysis for independent physician groups. Effective immediately, your practice can access the following services free of charge:
1. Navigating Your Short-Term Relief Options. Most physician groups are currently focused on working with their banks to find the right financial solution during this time. Using a combination of our industry expertise and the innovative programs forming in the marketplace, CMAC is in a position to assist in structuring and negotiating the solutions that will serve your group’s needs. We can contribute to discussions with your bank to:
- Ensure the continuation of salaries and operating expenses during the crisis, and
- Establish a repayment plan that will avoid an untenable debt service load following
2. Reviewing Loan Contracts and Mitigating Risk. During periods of economic upheaval, banks may introduce new measures to protect their lending positions. These measures, such as “floors,” have a wide range of values and are highly negotiable. It’s critical to understand how these new terms may have a profound impact on your rate and payment plans. CMAC can analyze the fine print as you receive newly drawn documents from your lender and mitigate any new risks your practice may face.
3. “On Call” Support. Here When You Need Us. We know patient care is your first priority. That’s why our team will be available before and after usual working hours to provide relief services. To speak with one of our financial experts, call 407-586-7356 at any time from 6:00 AM – 12:00 AM EDT. We will also promptly respond to email inquiries at firstname.lastname@example.org.
In addition to our physician relief program, CMAC will continue to provide long-term real estate financing services, now at a reduced cost during this crisis. This may be particularly important to those seeking to strip
out equity to provide cash for operational purposes.