TD Bank has closed a $2.5 million loan to two Laurel, MD-based dentists for the purchase of a previously family-owned practice. The loan is being administered through the bank's Healthcare Practice Solutions Group.
Drs. Ann Morgan and Sue-Lynn Hubbard will acquire Neighbor Dental and purchase the practice's real estate as well, according to the bank. The bank will also supply Neighbor Dental with operating accounts, merchant services, and credit cards.
TD Bank said its Healthcare Practice Solutions Group underwrites loans of up to $20 million for practices with revenue of up to $30 million.
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