September 2026
CONFIDENTIAL — FOR INSTITUTIONAL LENDING REVIEW ONLY
Commercial Credit Memorandum
York Pediatric Dentistry — York, SC
1748 Old York Rd (Hwy 161), York, SC 29745 | Proposed Launch: Fall 2027 | Total Financing Request: $2,000,000
$2,000,000
Total Financing
1,300+
Day-1 Patients
2.48x
Year-1 DSCR
12
Schools (5-mi)
Section 1: Executive Credit Request
MT Dental Ventures requests $2,000,000 in total project financing to establish the premier pediatric dentistry facility in York, SC.
Borrower Entity: MT Dental Ventures PropCo York, LLC (Real Estate) / MT Dental Ventures OpCo York, LLC (Operations)
Total Capitalization: $2,000,000 total project ($1.475M Real Estate: $275k land + $1.2M building; $525k OpCo: $500k equipment note + $25k working cap/IT).
Strategic Day-1 Inflow: Direct transfer of 1,300 active pediatric patients from Rock Hill Pediatric Dentistry residing in York/Western York County, with additional inflow from Chester County families seeking specialized pediatric care.
Highway 161 Traffic: Certified SCDOT traffic counts of 14,500 to 16,800 vehicles per day (AADT).
8-Chair Footprint Strategy: 6 turnkey Day-1 chairs + 2 pre-plumbed expansion operatories.
Section 2: Sources and Uses Table
| Tranche / Asset Class | Source | Amount | Rate / Terms | Annual Debt Service |
|---|---|---|---|---|
| PropCo — Land Acquisition | SBA 504 / Conventional CRE | $275,000 | 20-Yr Amort @ 6.75% | $23,940/yr |
| PropCo — Ground-Up Construction | SBA 504 / Conventional CRE | $1,200,000 | 20-Yr Amort @ 6.75% | $104,280/yr |
| PropCo — Equity Injection | Sponsor Equity | $125,000 | N/A | N/A |
| OpCo — Equipment Note | Equipment Finance / SBA 7(a) | $500,000 | $500k, 10-Yr Term @ 8.00% | $72,840/yr |
| OpCo — Working Capital / IT | Operating Line / Sponsor | $25,000 | Revolving / Sponsor | ~$2,500/yr est. |
| Total Project Funding | $2,000,000 | $187,780/yr |
*Note: Annual debt service of $187,780/yr based on fully drawn balances at stated rates. Working capital line estimated at 10% annual cost.
Section 3: Sponsor & Guarantor Profiles
Dr. Jonathan Mitchell — Co-Founder & Clinical Advisor
Board-certified pediatric dentist with 15+ years of clinical experience in South Carolina. Dr. Mitchell brings deep expertise in pediatric oral health, sedation dentistry, and practice operations. He will serve as the supervising clinical director for York Pediatric Dentistry.
Chad Tolbert — Co-Founder & Managing Partner
Dental business development executive with 10+ years of experience in practice acquisition, DPO formation, and healthcare real estate. Chad leads MT Dental Ventures' strategic growth, lender relations, and operational infrastructure across the Carolinas.
Guarantee Structure: Both sponsors will provide joint and several personal guarantees on all credit facilities. Combined net worth and liquidity exceed standard SBA and conventional guarantee thresholds.
Section 4: Corporate Architecture
PropCo
MT Dental Ventures PropCo York, LLC
Owns real estate — leases to OpCo via triple-net lease
OpCo
MT Dental Ventures OpCo York, LLC
Manages operations, staff, billing, and vendor contracts
Clinical PLLC
York Pediatric Dentistry, PLLC
Dentist-owned — holds dental license and patient records
Section 5: Multi-Location Clinical Deployment
MT Dental Ventures operates a hub-and-spoke DPO model anchored by Rock Hill Pediatric Dentistry (Rock Hill, SC), which serves as the operational and clinical training hub for new practice launches. York Pediatric Dentistry represents the first spoke deployment, leveraging the established patient base, clinical protocols, and administrative infrastructure of the Rock Hill hub. This model reduces launch risk, accelerates patient acquisition, and enables efficient deployment of shared administrative resources — including billing, HR, credentialing, and supply chain — across multiple locations.
Section 6: Regional Inflow & Commuter Dynamics
Arterial Access
Located on Hwy 161 (Old York Rd), the primary north-south arterial connecting York to Rock Hill. SCDOT-certified AADT of 14,500–16,800 vehicles per day provides exceptional drive-by visibility and patient accessibility for families commuting between York and Rock Hill.
Catchment & Payer Mix
Captures federal HPSA pipeline inflows from Chester County (US-321) and Cherokee County (SC-5). Resilient target payer mix composed of 55% SC Medicaid / 45% Commercial PPOs & Cash.
Section 7: School District Catchment Analysis
York Pediatric Dentistry is positioned within the York School District 1 catchment area, serving a dense concentration of K-12 students within a 5-mile radius. The following schools represent the primary referral and patient pipeline for the practice:
| School Name | Facility Type | Distance / Corridor |
|---|---|---|
| York Comprehensive High School | Public High School | 1.6 mi — 275 Alexander Love Hwy |
| York Junior High School | Public Middle School | 1.5 mi — 1280 Johnson Rd |
| York Middle School | Public Middle School | 1.4 mi — 1010 Devinney Rd |
| York Intermediate School | Public Intermediate | 1.5 mi — 1280 Johnson Rd |
| Cotton Belt Elementary School | Public Elementary | 1.8 mi — 1176 Black Hwy |
| Jefferson Elementary School | Public Elementary | 1.4 mi — 1543 Chester Hwy |
| Hunter Street Elementary School | Public Elementary | 1.3 mi — 1100 Hunter St |
| Harold C Johnson Elementary School | Public Elementary | 1.1 mi — 400 E Jefferson St |
| Lake Pointe Academy | Private Academy | 2.1 mi — 117 Carolina Crossing Dr |
| York One Academy | Charter/Alternative | 1.0 mi — 37 Pinckney St |
| First Baptist Church Preschool | Private Preschool | 0.9 mi — 102 S Congress St |
| Head Start | Early Childhood Program | 1.0 mi — 37 Pinckney St |
Operational Advantage: School-adjacent positioning enables targeted community outreach, school-based referral programs, and preventive care partnerships with York School District 1 — a proven patient acquisition strategy deployed successfully at Rock Hill Pediatric Dentistry.
General Dentists Within 5 Miles
The following general dentistry practices operate within the 5-mile catchment area. These practices represent natural referral partners for pediatric specialty cases — orthodontic consultations, sedation procedures, and complex restorative work that general dentists routinely refer out to a board-certified pediatric specialist.
| Practice Name | Address | Google Rating |
|---|---|---|
| White Rose Dentistry | 1530 Alexander Love Hwy, Ste 104, York | 5.0 ★ |
| York Dental Group | 553 Alexander Love Hwy, York | 4.5 ★ |
| Reid Family Dental, LLC | 1306 Old Fairhope Rd, York | 4.8 ★ |
Key Insight: No pediatric dental specialist currently operates within York city limits, confirming a clear referral gap that York Pediatric Dentistry is positioned to fill.
Pediatrician Offices Within 5 Miles
Pediatrician offices are among the highest-value referral relationships for a pediatric dental practice. Physicians routinely recommend dental homes to parents during well-child visits. The following practices serve the York/Rock Hill corridor and represent priority outreach targets for Day-1 co-marketing and referral development.
| Practice Name | Address | Google Rating |
|---|---|---|
| SouthernMED Pediatrics — York | 815 E Liberty St, York | 2.9 ★ |
| Aydrian Thomas, MD | 1023 Creekside Medical Dr, York | 4.9 ★ |
| SouthernMED Pediatrics — Rock Hill (Arden) | 724 Arden Ln #100, Rock Hill | 4.6 ★ |
| Carolina Pediatrics | 225 S Herlong Ave, Ste 201, Rock Hill | 4.2 ★ |
| Atrium Health Levine Children's Rock Hill Pediatrics | 1656 Riverchase Blvd #3400, Rock Hill | 4.3 ★ |
| Inspire Integrative Pediatrics | 534 Nautical Dr, Ste 2, Clover | 4.9 ★ |
Referral Strategy: Establishing referral relationships with these practices — particularly SouthernMED York and Dr. Thomas — represents a high-priority patient acquisition strategy for the first 90 days post-launch.
Section 8: Facility Specifications
Address: 1748 Old York Rd (Hwy 161), York, SC 29745
Building Size: 2,500–3,000 SF state-of-the-art dental facility built within a $1.2M ground-up construction budget.
Operatory Configuration: 6 turnkey Day-1 chairs (4 open-bay hygiene/restorative chairs + 2 quiet sedation/surgical suites).
Expansion Capacity: 2 pre-plumbed expansion operatories ready for activation in Year 2–3 without additional construction.
Traffic Count: 14,500–16,800 AADT (SCDOT certified) on Hwy 161 corridor.
Parking & Access: Dedicated surface parking with direct Hwy 161 ingress/egress; ADA-compliant facility design throughout.
Section 9: Pro Forma Financial Summary
| Financial Metric | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Gross Collections | $1,250,000 | $1,650,000 | $2,100,000 |
| Clinical Staff (Dentist + Hygienists) | ($375,000) | ($495,000) | ($630,000) |
| Front Office & Admin Staff | ($112,500) | ($148,500) | ($189,000) |
| Dental Supplies & Lab Fees | ($100,000) | ($132,000) | ($168,000) |
| Occupancy (NNN Lease to PropCo) | ($96,000) | ($96,000) | ($96,000) |
| Marketing & Patient Acquisition | ($37,500) | ($33,000) | ($21,000) |
| Insurance, Utilities & Misc. | ($62,500) | ($82,500) | ($105,000) |
| Net Adjusted Operating EBITDA | $466,500 | $663,000 | $891,000 |
| Total Annual Debt Service | ($187,780) | ($187,780) | ($187,780) |
| DSCR Coverage Ratio | 2.48x | 3.53x | 4.74x |
*Underwriting covenant: minimum DSCR of 1.25x required. Projected Y1 DSCR of 2.48x provides a 98% safety margin above covenant threshold.
Section 10: Secondary Liquidity & Exit Analysis
MT Dental Ventures' PropCo/OpCo structure provides multiple layers of secondary liquidity for lending institutions. The PropCo holds fee-simple title to a purpose-built dental facility on a high-traffic arterial corridor, providing real estate collateral with strong residual value independent of the operating business. In a stress scenario, the facility is readily re-tenantable to alternative healthcare or dental operators given its location, build-out, and proximity to York School District 1. The OpCo's Day-1 patient base of 1,300+ active pediatric patients — transferred from an established Rock Hill practice — represents a tangible, monetizable asset with demonstrated revenue history. The combined collateral package (real estate + equipment + patient goodwill) provides institutional lenders with a well-secured, multi-layer exit profile.
Indicative Bank Term Sheet Summary
Credit Facility Structure
CRE Facility: $1,475,000 — 20-year amortization, 6.75% fixed, SBA 504 or conventional
Equipment Note: $500,000 — 10-year term, 8.00% fixed, equipment lien
Working Capital: $25,000 — revolving line, sponsor-backed
Total Facility: $2,000,000
Debt Service: $187,780/yr ($15,648/mo)
Collateral & Covenants
• First mortgage lien on real property (PropCo)
• First lien on all dental equipment and FF&E (OpCo)
• Assignment of leases and rents (PropCo → OpCo NNN lease)
• Joint and several personal guarantees — Mitchell & Tolbert
• Minimum DSCR covenant: 1.25x (tested annually)
• Minimum liquidity covenant: 3 months debt service in reserve
Executive & Underwriting Sign-Off
Chad Tolbert — Managing Partner
MT Dental Ventures
Dr. Jonathan Mitchell — Clinical Advisor
MT Dental Ventures
Underwriting Officer
Lending Institution
Credit Committee Approval
Lending Institution
MT Dental Ventures | [email protected] | (803) 429-7058
CONFIDENTIAL