Brownsville Eye Center was just over a year old, and doing well when Dr. Michael Foster decided he wanted to take his business to the next level. He put together a detailed marketing plan that included regular advertising in a local newspaper, listings in a local circular, and a promotion that ran on the back of grocery store receipts.
In order to put his marketing plan into action, Dr. Foster needed a small business loan. He applied for a loan at his local bank (where he had an established relationship) but was turned down, despite his steadily growing business. Dr. Foster began the application process at a second area bank, but knew that the application process would take weeks and the results would be uncertain so he began looking for other alternatives.
After researching alternative lending options online, Dr. Foster contacted OnDeck Capital. On Deck judged his business based on his cash flow and other business trends, approving Brownsville Eye Center for a loan. He was excited that the process could happen so quickly and smoothly, and that he could have the money in his bank account in 7 business days.
With the loan from On Deck Capital, Dr. Foster was able to launch his advertising campaign in a matter of weeks. He quickly saw results, with more patients coming in the door directly as a result of his marketing plan. He was especially excited to see the grocery store receipt promotion (which he was a bit skeptical about at first) doing particularly well. “I had a perfectly healthy business, but my bank wouldn’t offer me a loan. I was able to get a loan from On Deck in a week, put my marketing campaign into effect and as a result I am seeing more patients than ever. ” Dr. Foster says.
Brownsville Eye Center is a great addition to On Deck’s customer success stories!