Success Stories
At United Structured Finance Company (USFC) our mission is to provide property and small business owners the complex financing solutions that once would have been available only to much larger clients. They’re the kind of solutions that help clients, such as Dr. Flury, grow and prosper.
Ideation, INC
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After two years of business and organizational redevelopment, Tom Ungrodt, owner of Ideation, Inc., in Ann Arbor, Michigan came up with a contrarian idea, “Let’s grow our catalogue and web-based offering!” But then he wondered if his long-term financial services provider would be willing to listen to his story, and help him expand his growing gift store catalog business and customer loyalty business to the Internet. United Structured Finance Company (USFC) listened to Tom, learned about his vision, and understood what he needed. Even though industry experts predicted that the Internet would render catalogs obsolete, Tom knew better. Statistics prove that catalogs remain the most effective way to emotionally appeal to consumers.
After analyzing Ungrodt’s proposed business plan in conjunction with a strong projected balance sheet, USFC recognized the need to refinance Ideation’s existing term debt and inject the company with additional permanent working capital. Despite the larger loan size, USFC was able to save Ideation over $190,000 per year in principal and interest payments. This innovative solution leveraged the SBA 7a loan program, which provides the bank with a 90% guaranty on the loan. This loan improved cash flow and reduced debt service, which allowed Ideation to revamp and expand its online catalog offering.
Ungrodt stated: “United Structured Finance Company provided me with financing solutions other lenders weren’t able to provide. Their unique approach and structure allowed me to add working capital in an economic climate that challenges small-business borrowing. Without United, I wouldn’t be in a position to expand my retail catalog business and customer loyalty program.”
Penny S. Flury, DDS$1,500,000 |
Dr. Flury contacted USFC when she was looking for financing to build herself a new dental office in downtown Plymouth, Michigan. She also wanted to add three residential condominiums. She didn’t have a lot of cash to put down into the project and we helped her by offering 90% financing on her project, allowing her to keep more cash in her business while she is in the midst of constructing her new building.
“I’d always dreamed of moving my dental practice to the Plymouth downtown area,” says Dr. Flury. “Our project was very complex — United Structured Finance Company listened to me, understood my needs, and created a simple financing solution. Their knowledge, professionalism, and dedication paved the way for a smooth closing for me.”
Dexter Pub$3,000,000 |
When Peter Theocharakis, owner of Dexter’s Pub in Dexter, Michigan, was looking to buy out his business partners and purchase the building from which the Pub operates, it was important he work with a bank that not only provided the financial services he needed, but one that also understood and was part of his community.
Brian Falzon is a senior vice president of community banking at United Bank & Trust (UBT) — and a patron of Dexter’s Pub. Through conversations with Peter, Brian recognized that he was in need of something other than a conventional loan, which would not provide the terms he needed. Brian called in Mike Chatas from United Structured Finance Company (an affiliate of UBT). Working together, Brian and Mike customized a lending solution to meet Peter’s business and personal goals
“I couldn’t have put this financing together without them; I had a great team to work with. The process was almost too easy and I had my loans before I knew it. In fact, I have moved my personal accounts to United because I know I have such a great banking team working for me.”
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USFC is a division of United Bancorp, Inc. • www.ubat.com