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 that 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 a 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)