Wednesday, May 7, 2008

Loans for Medical Professionals

Now why would anyone want to get into this crazy business of loan originations for the medical industry? It's simple really if you give me a minute or two to explain. Along with thinking of being home with my wife and kids and having a JOB, I had started to think about the professional business owners who were having such a hard time trying to acquire funding by way of traditional financial institutions.

I started my career in banking back in 1989 and immediately fell in love with it and the people. Unfortunately, I saw a darker side of banking that most people really do not look at. I began to notice a handful of business owners who would come to apply for some form of funding for their businesses and then be turned down for various reasons. Some may not qualify due to credit issues, others may lack equity or profitability or perhaps the type of business they were operating. Whatever the reason they would simply be told, "sorry there is nothing more that we can do". Instead of offering some alternatives they were turned away and possibly more frustrated than when they first came in. I observed, very closely, how the customers expressions went from enthusiasm and excitement to resentment and despair. After a few years of watching the same thing over and over I decided that I wanted to help out those in need (business owners) but what type of business.

I opened the doors to my little operation four years ago with great anticipation but had little idea as to what was going to come next. My intentions were to help business owners locate funding but what I did not know is that every Johnny Company was going to blow up my email looking for funding, I was overwhelmed. At first it was fantastic I had all types of referrals and contacts, some were viable and some were not. Then there was the headaches. I had began networking with several lenders across the United States and would shoot over the deals and although most were great deals almost all were shot down, I needed a niche. Feeling frustrated I started observing my own surroundings as well as some history.

Growing up I remember some of the best days of my life were spent with my Grandmother and Aunt back in Texas. My Aunt, unfortunately, suffers from cerebral palsy. All those years I never stopped to think of how much work it took for all of us to care for her. She cannot feed herself, clothe or even bathe herself. Someone would have to transport her to and from the doctors as well as carry her to and from bed and so on. Am I looking for some sympathy? No way, as a matter of fact I thank God for her everyday because she taught me so much and my Grandmother, the work she put in every single day, kept a smile on her face but I could also see the frustration as she tried to locate different sources that may be able to help in the form of equipment, nursing, medicine or others and still nothing. Various advancements in medicine and technology were available but some small town doctors could not afford it. Now, years later, I am married with a family of my own and now my wife suffers from her own disorder. My beautiful wife suffers from severe back pain almost to the point that she cannot walk. I have seen so many doctors and specialists with her that I feel that I am almost related to them. Sadly, we hear the same thing there is nothing for you we can do or we are not properly equipped to take care of you and yes even if you don't have the necessary funds we can't help you because your insurance won't cover it. Then the doctors who do have the answers do not have the needed, well need I say it again. WOO HOO! I have finally found my niche and I could not be happier. There is a huge void in the medical industry and it needs to be filled. Equipment becomes outdated just as quick as it is made, new medications are manufactured everyday, new technology is now being offered to practices everywhere. Whose fault is it that there is a lack of these precious tools available to medical people. I truly feel it is not the Medical Professionals fault, they are trying everything they can to help care for their patients. It is the cost of all of these necessities that practices are nearly forced to apply for funding. Insurance, competition as well as staffing are becoming more and more expensive. In some cases the amount the practices need is beyond what the banks are available or willing to lend, so that is where we come in. There are a huge number of private lenders as well as other institutions who are all to willing to lend to these professionals. So it is with my own experiences that I found my niche and where I can help those that are in need, and not necessarily medical professionals but the patients who need the equipment, medicine, technology and so on. It does not matter if you are a general MD, Dentist, Optometrist, Pediatrician or even a Hospital, there are a number of resources ready to help, you just have to know where to look. Sure, I get to make an income for myself but the reward for me actually is helping those who really have needs.

Please allow me to introduce our company, 25 Group Financial. As loan consultants on behalf of Medical Professionals we strive to go above and beyond to fulfill the needs of our clients. With its ever increasing demand for services and technology the healthcare industry is one of the major industries in this country. Because of the cost of liability coverage, competition, and the high cost of new technology and medications, many doctors find the need to take out a loan to pay for all of these necessities. Whether you are a Physician, Dentist or Optometrist we may have a lender for you.We make it our business to understand your practice, that your time is valuable, this particular industry and the constant need for up to date equipment, new or more advanced equipment, working capital, malpractice protection and so on.

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1 comment:

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