Conventional Bank Financing with Zero Money Down and Minimal Seller Financing

Challenge:

Planning to purchase a very large veterinary practice, I needed approximately $1M in funding. There were two major hurdles: (1) The owner was not willing to finance more than 10% of the purchase price, and (2) I didn’t have sufficient capital for a down payment. In addition, other funding institutions required a larger percentage of seller carry-back and down payment.

Solution:

Not only did USMF provide the right financing solution for my business purchase, but they included working capital and additional financing to update aging equipment. The owner did not have to carry back more than 10%, and I didn’t have to come up with a down payment for my USMF-customized loan. Having interest-only payments for the initial six months of the term was also helpful, and was a key factor in making a smooth practice transition.

Result:

I was able to buy the practice with zero money down, and was able to close the practice purchase without negotiating a larger amount of seller financing, which might have jeopardized the entire deal. My practice is now so successful that we’re preparing to add another associate this year. If it wasn’t for USMF, I might have never been able to accomplish my ultimate goal of owning my own veterinary practice. I will definitely continue to recommend USMF to fellow veterinarians.

–Mark Mills, DVM, North Deering Veterinary Hospital (Portland, ME)

Conventional, All-in-One Financing for Real Estate, Remodeling and Equipment

Challenge:

I wanted to expand my current practice, and realized special plans were necessary when the commercial property I was renting became available for sale. I also wanted to increase my work space by remodeling the office and adding state-of-the-art equipment to increase my service offerings. Unfortunately, I could not find a funding source that could structure commercial real estate, remodeling, and equipment into a single lending program.

Solution:

USMF not only provided all three services; they tailored one plan that fit my exact needs. They structured a unique program that was customized to accommodate my cash flow requirements. From start to finish, the process went smoothly. Real estate, construction companies, and equipment vendors were all funded promptly without hassle.

Result:

Since USMF secured all my funding requirements under one program, accounting is a breeze. I only have to write one monthly check for the entire expansion, and I’m enjoying career success in my newly expanded dental office. Since I acquired the property, remodeled it, and added new equipment, my revenues have and continue to increase dramatically. USMF is a professional, well-managed organization.

–Edward Flatow, DDS, Forest Hills, NY

Start-Up Financing Structured as a Lease for Greater Tax Advantages

Challenge:

After many years of working for and with partners, I decided to start my own dental practice at the age of 60. I actively searched many funding sources to no avail. Many even refused to work with me because of my age, and the ones that would were proposing high rates with terms that didn’t fit my objectives.

Solution:

I finally discovered USMF. They secured my funding and offered better rates and terms than any other funding source. They put together an outstanding program, and customized a start-up plan specifically tailored to my unique practice needs and requirements. The plan they structured was also designed to gain the greatest tax advantages available for a new practice.

Result:

USMF got my new practice up and running, and we’ve been growing steadily at a constant, healthy pace. My new practice exceeds national averages in all categories. I’m extremely pleased with the way things turned out, and continue to recommend USMF to all of my colleagues.

–R.C., DDS, Advanced Dental Arts Center (Belvidere, IL)

Expansion and Acquisition of Business and Real Estate

Challenge:

I wanted to relocate my practice, expand my career objectives and build my own facility, so I sold my North Florida leasehold practice and relocated to South Florida. After finding a suitable property, USMF helped with the land financing. Unfortunately, I discovered a local zoning restriction which didn’t allow me to build my own facility, so I desperately needed to purchase another piece of property or an existing veterinary facility. I finally found a boarding facility in an excellent location, but the purchase price of the business and real estate was higher than any funding source was willing to lend me. The local bank I was working with recommended a program that really didn’t fit my needs, so I was stuck between a rock and a hard place.

Solution:

USMF not only helped facilitate my land sale, but they structured a unique, customized SBA loan for the boarding facility and real estate purchase. By combining seller and lender financing, USMF created a program with minimal capital injection that the local bank was not able to match.

Result:

After working with USMF, I’ve fulfilled my goal of relocating and expanding my career objectives. By combining veterinary services with an existing boarding facility (pet resort), my practice is flourishing. I now own a successful veterinary business that continues to grow monthly, and is ideally located. The service, advice and expertise I received from USMF was outstanding. Without their help, I might have made the wrong decision. Thanks to USMF, I’ve made the right decision that will last a lifetime.

-Scott Gregory, DVM, Naples Safari Animal Hospital (Naples, FL)

I sold my small animal practice and did some relief work for a couple of years, but was ready for a new practice. It took me many years to upgrade my old facility and purchase the equipment I desired, so this time I was determined to purchase a new, state-of-the-art facility with the required equipment included. My partner shared this dream.We located a perfect site in a rapidly growing area, and were anxious to get started. We researched local conventional loans and SBA loans. All of these financing options required 5% to 25% down payment, and their application process was very slow. We were getting discouraged.

Solution:

I read about USMF in a veterinary journal, and contacted them about a 100% financing program. They were excited and responsive about our project, and the application process was easy. We received our loan approval very quickly. They arranged 100% long-term financing for the construction and real estate, along with a short-term loan for equipment and working capital.Because of USMF’s customized conventional financing, we opened our new facility less than a year from loan approval. Also, because we were able to arrange for 100% financing, we were able to have a fully equipped, state-of-the-art new hospital without sacrificing our own families’ lifestyles.

Result:

We love our new building, and our clients do, too! Our practice is growing very rapidly and is exceeding our financial goals. We can now offer laser surgery, ultrasound with telemedicine, behavioral counseling and training classes, and luxury boarding—all because we were able to build the practice of our dreams.
We are grateful to Marc Cornella and USMF for securing the right financing for us. They believed in our dream, tailored the loan for our special circumstances, and gave us excellent service. We enjoyed working with them, and highly recommend USMF for your practice financing needs.

-Sybil Davis, DVM & Stacy O’Quinn, DVM, Riverwalk Animal Hospital (Ridgeland, SC)

100% Acquisition Financing Combined with Seller Financing for Real Estate

Challenge:

After many years of practice experience, I was excitedly looking forward to buying my own first practice. However, even with my years of practicing experience and an excellent, but brief, credit history, I found it impossible to secure funding. Most lenders wouldn’t even give me a chance. They wanted a longer practicing history in America, a more established credit bureau rating, and a mandatory capital injection. I was at the point of putting my long-term goal on hold, until I called USMF.

Solution:

Not only did USMF want to work with me, they also advised my negotiation and helped to plan the entire acquisition. With perfectly tailored terms and conditions, they structured a combination of seller financing for the real estate, coupled with their own practice financing. The funding package USMF put together was acceptable to me—and more importantly, to the seller. The paperwork they provided was simple and easy to understand. Since I was assigned my own representative, it became a very friendly and personal relationship. I didn’t feel lost in a large company, being transferred from desk to desk. There were absolutely no surprises and they kept their word with everything.

Result:

USMF made my veterinary practice dream come true! Because of the unique financing structure, the practice cash flow has grown much quicker than I ever expected. It has allowed me to generate a greater revenue stream than I planned for. In fact, in just 1 ½ years, I have been able to build enough profit to consider expanding and acquiring a second practice! If it wasn’t for USMF giving me the opportunity and believing in me, I would still only be dreaming about it.

-Fred Saad, DVM, El Toro Animal Hospital (Lake Forest, CA)

100% Conventional Financing with Zero Money Down and NO Seller Financing Required

Challenge:

After years of associating for others, I wanted to fulfill my career of medicine by owning my own Ear, Nose & Throat specialty practice. Two major obstacles stood in my way. I had minimal capital to contribute as a down payment and the seller was not willing to finance any part of the acquisition. All other lending sources I contacted were requiring much more of a down payment that I had available and a minimum of 15% seller financing which was not an option. I was ready to put my plans of practice ownership on hold until I noticed an USMF advertisement in a popular trade journal.

Solution:

Following their initial free consultation, USMF assured me of a solution. Not only did they structure the entire acquisition with zero money down, they assisted in the negotiations at no additional charge and financed the transaction 100% with no seller financing required. To boot, the rate, term and structure were the best I was offered by any other bank or lender I spoke with.

Result:

I was able to buy the practice with no money down and without any seller financing required. The entire deal would have been jeopardized if I didn’t satisfy these two critical factors. Because of USMF’s closing department being so efficient, the entire process went extremely smooth and without any surprises. If it wasn’t for USMF I might never have been able to accomplish my ultimate goal of owning my own practice.

-John Fraker, MD