In 2011, United Capital Source provided business funding for a medical clinic physician who with our funding has grown his practice count from 27 to 41 medical clinics. That’s incredible growth! What a success this medical businessman has been!
Yet here’s the kicker.. traditional banks denied his call for business funding as his business, not him personally, was in the midst of negotiating an IRS tax lien of $1.2M. Traditional lenders turned away this thriving business with positive cashflow due to the situation with the IRS. The team at United Capital Source is proud of providing this New Jersey based physician with a business funding program that cost 14 cents on the dollar. This businessman was faced with our competitors offering 35% interest rate loans.
“Just doing good work is what we do here at United Capital Source,” says our CEO Jared Weitz at regular team meetings.
Oh, I almost forgot to mention, the IRS negotiation on the lien is finalized now and we have financed the settlement and once completed United Capital Source will arrange a business funding program with the Small Business Administration over 25 years at 6% interest rate.
“It’s one of our greatest joys to see a client graduate from one of our unsecured funding programs to a more traditional funding program” Says CEO Jared Weitz.
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