A well-established healthcare practice with multiple locations and 15 years of service faced an exciting opportunity to expand to the Gulf Coast of Florida. However, financial constraints posed significant challenges, necessitating an effective funding solution to support their growth ambitions.
Vision
The healthcare practice aimed to expand its reach and offer quality physical therapy services to the region. The vision was to establish a new location that would provide comprehensive physical therapy services, meeting the needs of the growing community and enhancing the practice’s market presence.
Opportunity
The new region presented a substantial opportunity for expansion, with a growing population in need of quality healthcare services. By opening a new location, the practice could capture a significant market share, increase its patient base, and further solidify its reputation as a leading healthcare provider.
Challenge
The practice faced significant financial hurdles that jeopardized their expansion plans. Having already maxed out their bank line of credit (LOC) to cover initial office build-out costs, they were left without additional funds to manage ongoing expenses. Additionally, the strain of operational expenses, including hiring new staff and covering payroll, further complicated their financial situation. These challenges created a pressing need for additional capital to ensure the completion of the new location and maintain financial stability.
How Samlend Financial Helped
Samlend Financial stepped in to provide a fast and flexible funding solution tailored to the practice’s needs. Within a short timeframe, Samlend Financial approved $1 million in funding, covering the remaining $500,000 in construction costs and stabilizing the practice’s cash flow. This funding was provided without affecting the practice's ability to draw on their LOC in the future, ensuring financial stability and operational continuity.
Results
Completed Construction: The $1 million funding allowed the practice to complete the new office build-out on schedule, ready to serve the local community.
Stabilized Cash Flow: The financial support helped stabilize cash flow, enabling the practice to manage new staff, payroll, and operational expenses effectively.
Enhanced Market Presence: By successfully expanding to the Gulf Coast, the practice strengthened its market presence and positioned itself for continued growth.
Conclusion
Samlend Financial’s timely and efficient funding solution enabled the practice to overcome financial challenges and successfully expand to the Gulf Coast of Florida. By providing $1 million in funding, Samlend Financial played a critical role in completing the new office build-out, stabilizing cash flow, and supporting the practice’s growth ambitions. This case study highlights the importance of responsive and adaptable financial partnerships in driving business expansion and ensuring operational success.
Why Samlend Financial
The healthcare practice chose Samlend Financial for several key reasons:
Speed of Transaction: Samlend Financial provided a quick solution, approving and funding the transaction within a short timeframe, crucial for meeting the practice’s immediate needs.
Limited Documentation: The process was straightforward and efficient, requiring minimal documentation, which simplified the funding process.
Future Flexibility: The funding solution did not impact the practice’s ability to draw on their existing LOC, preserving financial flexibility for future needs.
