44 Business Capital Closes SBA Loan Laser Eyecare Practice
44 Business Capital recently closed on a $3.9 million SBA loan to Dr. Steven Siepser, MD of Siepser Eyecare in Wayne, PA. Dr. Siepser is the first FDA approved VISX Laser Eye Surgeon in the Delaware Valley.
With more than 30 years of experience, he is recognized internationally as an innovator and leader in advanced eye care. Siepser Eyecare has Pennsylvania locations in Wayne, Plymouth Meeting, Exton, and Conshohocken and specializes in corrective laser surgery, cataract and glaucoma treatments.
Greg Poehlmann, 44 Business Capital president, said, “Dr. Siepser had always paid his creditors as agreed. However, his bank was under regulatory action and could not provide any additional commercial financing. “Revenues, which had been impacted by the recession, were recovering when financial consultant Mike Breeze of New Direction Capital referred Dr. Siepser to us.
“Financial consultants like New Direction Capital, along with attorneys and CPAs, often refer their clients to 44 Business Capital, especially when the client is turned down by banks,” Poehlmann added. “Mike Breeze has been a successful financial consultant for years and knew that 44 Business Capital would look beyond the surface to get comfortable with the deal. 44 Business Capital was able to consolidate all of Dr. Siepser’s debt, including his medical office loan, and save the practice over $18,000 a month in cash flow.”
44 Business Capital, headquartered in Blue Bell, PA is an SBA lender in the Philadelphia District, leveraging the U.S. Small Business Administration’s 7a loan program. Recent loans range from $500,000 to $5 million providing financing for debt restructuring, real estate and business acquisitions.