MT Dental Ventures — Current Project
Lancaster Pediatric Dentistry
A ground-up pediatric dental practice serving Lancaster County and surrounding communities, built on a foundation of clinical excellence, community access, and long-term partnership.
2028
Launch
Pediatric
Specialty
Lancaster, SC
Location
Day-1 Ready
Experience
Investment Thesis
Why Lancaster, SC Needs a Pediatric Dental Specialist
Six converging market conditions create a rare, low-risk opportunity to establish the first dedicated pediatric dental practice in Lancaster County.
0
Pediatric Dental Specialists in Lancaster County
No board-certified pediatric dentist currently operates within Lancaster County — a verified gap confirmed by SC DHEC and Google Places data.
1,000+
Active Pediatric Patients — Day-1 Transfer
Immediate patient base transferred from Rock Hill Pediatric Dentistry — Lancaster County residents already seeking care 25+ miles away.
12+
K-12 Schools Within 5-Mile Radius
Lancaster County School District catchment area surrounds the site — multiple high schools, middle schools, elementary schools, and early childhood programs.
4+
Pediatrician Offices in the Corridor
Atrium Health Lancaster, SouthernMED, Springs Memorial Pediatric, and Carolina Pediatrics all operate within the catchment — no pediatric dental home to refer to today.
US-521
Great Falls Hwy — Primary Arterial
The primary north-south arterial connecting Lancaster to Rock Hill and the Charlotte metro delivers strong daily traffic counts past the proposed site.
2.48x
Year-1 Debt Service Coverage Ratio
Conservative underwriting model projects a 2.48x DSCR in Year 1 — a 98% safety margin above the 1.25x bank covenant threshold.
Executive Summary
About the Practice
Lancaster Pediatric Dentistry will be the first dedicated pediatric dental practice in Lancaster County, SC — a rapidly growing community that has historically been underserved in specialty dental care for children. The practice is designed from the ground up to deliver compassionate, high-quality care to children of all ages and abilities.
The practice will open with a Day-1 patient base transferred from Rock Hill Pediatric Dentistry, ensuring immediate revenue and continuity of care for active pediatric patients residing in Lancaster County and surrounding areas.
Strategically positioned along the US-521 corridor — a primary arterial connecting Lancaster to Rock Hill and Charlotte — the facility is purpose-built to serve families across Lancaster, Chester, Chesterfield, Fairfield, and Kershaw counties, with a mission to expand access to specialty dental care in underserved communities.
Service Area
5-County Service Area & Patient Transfer Corridor
Lancaster Pediatric Dentistry is positioned along the US-521 corridor to capture Day-1 patient transfer from Rock Hill Pediatric Dentistry, serving Lancaster, Chester, Chesterfield, Fairfield, and Kershaw counties.
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Lancaster Pediatric Dentistry
US-521 Corridor, Lancaster, SC 29720
Proposed — Launch 2028
Rock Hill Pediatric Dentistry
2460 India Hook Rd Ste 106, Rock Hill, SC 29732
Existing — Day-1 Patient Transfer Source
Underwriting Package
Commercial Credit Memorandum
Confidential — Prepared for Institutional Lending Review
Section 1: Executive Credit Request
MT Dental Ventures requests $2,000,000 in total project financing to establish the premier pediatric dentistry facility in Lancaster, SC.
- Borrower Entity: MT Dental Ventures PropCo Lancaster, LLC (Real Estate) / MT Dental Ventures OpCo Lancaster, LLC (Operations)
- Total Capitalization: $2,000,000 total project ($1.475M Real Estate: $275k land + $1.2M building; $525k OpCo: $500k equipment note + $25k working cap/IT).
- Strategic Day-1 Inflow: Direct transfer of active pediatric patients from Rock Hill Pediatric Dentistry residing in Lancaster County, with additional inflow from Chester and Kershaw County families seeking specialized pediatric care.
- US-521 Traffic Corridor: High-traffic arterial corridor connecting Lancaster to Rock Hill and the greater Charlotte metro area.
- 8-Chair Footprint Strategy: 6 turnkey Day-1 chairs + 2 pre-plumbed expansion operatories.
Section 2: Sources and Uses Table
| Tranche / Asset Class | Source | Amount ($) | 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 Lancaster 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 Lancaster, LLC
Owns real estate — leases to OpCo via triple-net lease
OpCo
MT Dental Ventures OpCo Lancaster, LLC
Manages operations, staff, billing, and vendor contracts
Clinical PLLC
Lancaster 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. Lancaster Pediatric Dentistry represents the second 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 along the US-521 corridor, the primary north-south arterial connecting Lancaster to Rock Hill and the Charlotte metro. High daily traffic counts provide exceptional drive-by visibility and patient accessibility for families commuting between Lancaster and Rock Hill.
Catchment & Payer Mix
Captures patient inflows from Chester County (US-321), Chesterfield County (US-601), Fairfield County (US-21), and Kershaw County (US-521 south). Resilient target payer mix composed of 55% SC Medicaid / 45% Commercial PPOs & Cash.
Section 7: School District Catchment Analysis
Lancaster Pediatric Dentistry is positioned within the Lancaster County School District 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 |
|---|---|---|
| Lancaster High School | Public High School | ~1.5 mi — 200 Normandy Rd, Lancaster |
| Andrew Jackson High School | Public High School | ~4.8 mi — 2643 Andrew Jackson Hwy, Lancaster |
| Lancaster Middle School | Public Middle School | ~1.2 mi — 1401 Pageland Hwy, Lancaster |
| Buford Middle School | Public Middle School | ~3.5 mi — 1800 Buford School Rd, Lancaster |
| Barr Street Elementary | Public Elementary | ~0.8 mi — 200 Barr St, Lancaster |
| Clinton Elementary | Public Elementary | ~1.0 mi — 1200 Clinton St, Lancaster |
| Erwin Elementary | Public Elementary | ~1.4 mi — 1000 Erwin St, Lancaster |
| Flat Creek Elementary | Public Elementary | ~2.2 mi — 2400 Flat Creek Rd, Lancaster |
| Buford Elementary | Public Elementary | ~3.5 mi — 1800 Buford School Rd, Lancaster |
| Indian Land Elementary | Public Elementary | ~4.5 mi — 2680 Indian Land Rd, Lancaster |
| Lancaster Christian Academy | Private Academy | ~1.8 mi — 1700 Pageland Hwy, Lancaster |
| Head Start — Lancaster | Early Childhood Program | ~1.0 mi — 200 Barr St, Lancaster |
Operational Advantage: School-adjacent positioning enables targeted community outreach, school-based referral programs, and preventive care partnerships with Lancaster County School District — 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 |
|---|---|---|
| Lancaster Family Dentistry | 1200 Pageland Hwy, Lancaster, SC | 4.6 ★ |
| Catawba Valley Dental | 500 N White St, Lancaster, SC | 4.4 ★ |
| Lancaster Dental Associates | 1800 Pageland Hwy, Lancaster, SC | 4.3 ★ |
Key Insight: No pediatric dental specialist currently operates within Lancaster city limits, confirming a clear referral gap that Lancaster 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 Lancaster corridor and represent priority outreach targets for Day-1 co-marketing and referral development.
| Practice Name | Address | Google Rating |
|---|---|---|
| Atrium Health — Lancaster Pediatrics | 800 W Meeting St, Lancaster, SC | 4.2 ★ |
| SouthernMED Pediatrics — Lancaster | 1500 Pageland Hwy, Lancaster, SC | 3.8 ★ |
| Springs Memorial Pediatric Clinic | 800 W Meeting St, Lancaster, SC | 4.1 ★ |
| Carolina Pediatrics — Lancaster | 1100 N White St, Lancaster, SC | 4.3 ★ |
Referral Strategy: Establishing referral relationships with these practices — particularly Atrium Health Lancaster and SouthernMED — represents a high-priority patient acquisition strategy for the first 90 days post-launch.
Section 8: Facility Specifications
- Address: US-521 / Great Falls Hwy Corridor, Lancaster, SC 29720 (site TBD)
- Building Size: 2,500–3,000 SF state-of-the-art dental facility built within a $1.2M ground-up construction budget.
- Operatory Configuration: 6 turnkey Day-1 chairs (4 open-bay hygiene/restorative chairs + 2 quiet sedation/surgical suites).
- Expansion Capacity: 2 pre-plumbed expansion operatories ready for activation in Year 2–3 without additional construction.
- Traffic Corridor: US-521 (Great Falls Hwy) — primary north-south arterial connecting Lancaster to Rock Hill and Charlotte metro.
- Parking & Access: Dedicated surface parking with direct arterial ingress/egress; ADA-compliant facility design throughout.
Section 9: Pro Forma Financial Summary
| Financial Metric ($) | 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 Lancaster County School District. The OpCo's Day-1 patient base of 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
Interested in This Opportunity?
We welcome conversations with lenders, investors, and community partners who share our vision for expanding access to pediatric dental care in the Carolinas.