Problem

A pioneering physician with an established healthcare business of 300+ practices across nine states, was seeking to expand the business footprint further into Florida. The business and its leadership team had a strong financial history and had put together a robust business plan, but they still needed the financing to move forward. Faced with the challenge of raising capital to fund the growth, the leadership group sought out the right financial partners to help bring the expansion to life.

Solution

The business’s leadership group connected with Firstrust Bank and an additional participant bank, to plan and secure a financial package tailored to meet both their current and future needs as they scale the business.

Results

By leveraging a collaborative approach with the participant bank, Firstrust crafted a financial package for the business that consisted of a term loan of $17 million for six new locations, a $2.5 million revolving line of credit for working capital, and a $6 million development line of credit for anticipated future growth of five additional locations.

Conclusion

The effective collaboration of the three parties enabled the business to obtain the needed financing to bring the planned expansion to life and successfully add additional locations throughout Florida. Having an experienced financing partner in their corner with a deep understanding of their industry played a critical role in helping get this deal to the finish line.

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