Business Expension

Dr. Cowin took pride in his state-of-the-art facility where they performed their procedures on-site and believed they were on the cutting edge of technology. But after 12 years at the same location, Dr. Cowin walked in one day and realized it was time for an upgrade. “You’ve done your best over your career to be the best doctor that you can, to get well credentialed and have high patient satisfaction ratings; you need to have an office that reflects that.” He consulted his CPA on the idea, who recommended applying for an SBA Loan through Biz2Credit’s CPA Business Funding Portal to turn the refresh plan into reality.

While his CPA took the first steps in gathering the financial paperwork needed to apply this time, he was no stranger to the SBA lending process. Dr. Cowin explained that he first applied for an SBA loan back in 1981 and noticed major improvements to the experience when working with his CPA on the Biz2Credit-provided Portal, notably in the digitization of the application and paperwork. With a background in medicine and law, he did his research, but there were still aspects in the process he needed assistance with. That’s where his CPA and Corey Falkin, his Biz2Credit funding specialist helped bridge those gaps. “In addition to being knowledgeable, Corey was also kind of a cheerleader... [and helped to get the funding] to the finish line.”

When asked about his experience applying, he gave much credit to his CPA and her guidance on fulfilling all the requirements and Biz2Credit for connecting him to the right bank. He also recalled the preliminary approval was helpful during the paperwork process because, “it showed me I wasn’t doing all that work for nothing.” But the standout for him was the efficient turnaround in comparison to the usual SBA loan process. “[An SBA loan application] was not a particularly simple process, it did take a lot of work, but it was faster than the traditional SBA Loan process [thanks to the Portal]."

Once approved, Dr. Cowin received the full amount of funding he had requested. He quickly moved into action, calling vendors the next day and getting to work.

“We had a tech company replace some of the computers that we had... I thought we needed a change of direction in marketing so we had a company that specialized in websites and social media marketing for doctors and we gave them the green light, ... there was flooring material that needed to be changed out, and ceiling tiles and various aesthetics of the office... that we have really been needing to do.”

Thanks to Biz2Credit and the CPA Business Funding Portal, Dr. Cowin and his CPA were able to secure an SBA loan for his practice with ease. Now Dr. Cowin is putting his best foot forward making key improvements to his facility to continue providing the highest quality of care and service to his patients.