Olympia Ortho Financing Goes from Very Good to Great
In 2015, Stephan Curry broke the single season mark for 3 pointers by sinking 280. What is a body to do after setting a mark like that? Set a new one of course. How about 402.
When CMAC Partners took on the engagement from Olympia Orthopaedics, we thought “this must be what it feels like to be Steph Curry coming off a record 2015.” Olympia had done a great job over the preceding years in negotiating with their bank to arrive at a very narrow loan spread and had shed their personal guarantees. Talk about a challenge!
A few months later, CMAC walked away from the closing feeling like Steph Curry. The spread wasn’t just bettered; it was demolished: a reduction of such impact that it would translate to interest savings of more than $750,000 over the new loan term. Equally important, the refinancing significantly improved the cash flows to the partners.
The impressive outcome was a result of having a strong practice and combining that with the leverage that CMAC creates through its billion-dollar plus portfolio of healthcare loans it has secured. CMAC issued its RFP and negotiated simultaneously with nearly 20 prospective lenders before the final terms were concluded. The Olympia story is a clear reminder of just what can be accomplished using the combined strengths of two strong organizations.
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