Omni Health Services Consolidates High Interest Debt, Secures Working Capital and New Property Fit Out with SBA Loan
Omni Health Services Consolidates High Interest Debt, Secures Working Capital and New Property Fit Out with SBA Loan
"It was an honor working with Mike Hahn and the team at 44 Business Capital. They helped me get an SBA term loan and construction loan. Their entire team worked closely with our company staff and helped us sail smoothly through the process. They were culturally sensitive to my needs and were a team to reckon with. I appreciate and am humbled to have worked with all of them."
Michael Thevar, Founder and CEOOmni Health Services | Colmar, PA
CHALLENGE
Michael Thevar is founder and CEO of Omni Health Services, a company that had been growing at a substantial clip since its inception in 2007. A mental health provider throughout the Northeast, Omni had added 13 offices in just 12 years. The company pieced together financing with short term, high interest rate loans and personal investors - never being able to establish a long-term funding source. Thevar was introduced to Mike Hahn and 44 Business Capital, who had some experience in the industry. Mike was able to structure a 10-year SBA term loan and a fresh revolving line of credit with an SBA Express product. This solution provided them with considerable cash flow savings and the capacity for continued growth. Consequently, the solution aided them in being able to take advantage of buying their next property instead of leasing. When an old bank property became available, Omni knew just who to call for the construction retrofit. 44 came in and quickly put together a 25-year fully amortizing mortgage for the building.
OUR BORROWERS SAY IT BEST
