At Independent Bank we pride ourselves on the personal service and the strength of our local bankers. At a time when financial services can be viewed as a commodity, when every bank is trying to be different to gain market share, Independent Bank holds steadfast to our core values. Safety and soundness form the basis for our decisions.
“Welcome those big, sticky, complicated problems. In them are your most powerful opportunities.”
~ Ralph Marston, Texan & Motivator
We take Mr. Marston’s words to heart and are particularly proud of the work we’ve done to partner with Access Dental Management throughout Texas.
Providing Capital to Expand: In early 2013 Feroz “Nick” Noorani, Vice President – Commercial Banking met Dr. Tien D. Phan, founder of Access Dental Management. The two began talking, taking an occasional lunch and exploring the potential for new business. Access Dental Management owns 19 clinics with a revenue source roughly 65% Medicare, 30% private insurance and 5% cash. Additionally, Dr. Phan is active in investment real estate. It became clear to Nick working with Dr. Phan would require a sharp banker.
Nick had to learn more before he could make any recommendations. He discovered Access Dental Management is an important part of the community: providing quality dental care to low-to-middle income families. Their innovative business model includes the strategic acquisition of existing practices and the start-up of practices representing 85% of current locations. They hire young new dentists or recruit and train new graduate dental students from UT Southwestern and other dental colleges. Each doctor is then placed under a management contract to run a dental practice location.
As the business grew Michael Ly, CFO of Access Dental Management was brought on board to manage ownership’s personal and business financials, their affiliated entities and to consult on future investments. Nick Noorani and Michael have worked closely; sharing critical business information and structuring capital needs to meet the organizations growth objectives.
By fall of 2013 Nick and Michael Ly had a loan proposal on the table and it was finalized before the year-end. The additional capital allowed Access Dental Management to make a significant investment in a medical building, which subsequently generated significant rental income. Access Dental Management has also decided to slowly migrate some of their existing bank business to Independent Bank. We have become a valuable financial resource.
Commercial Loans: Access Dental Management is just one of the many companies Independent Bank works with every year to help meet their business objectives. We offer flexible financing for new construction lending and expansions, secured loans for development and improvements, as well as unsecured loans for real estate developers or investors.
Benefits of our programs include:
- Competitive interest rates
- Quick approval
- Quick and easy “closing” process
- Proven track record of financing commercial real estate throughout North Texas
- Experts to walk you through the process
At Independent Bank we do not sell pre-packaged financial solutions. We understand loan requests from entrepreneurs are often accompanied by unique financials. Our commercial loans are driven by the level of familiarity we develop with your organization and reviewed on their individual merit.
Commercial Banker Nick Noorani recognized the opportunity with Access Dental Management and Dr. Phan. His expertise reconciling their complex revenue streams and varied business interests enabled Access Dental Management to maximize their borrowing power. In turn, the capital provided by Independent Bank has kept Access Dental Management’s expansion plans on schedule and they continue providing dental services to deserving families throughout Texas.
Independent Bank. A Partnership You Can Bank On.