Onset Financial Funds $22M for Medical Diagnostics Facilities
August 31, 2018
Onset Financial has just funded $22 million dollars for one of the leading medical imaging facilities in the country. With dozens of clinics in operation already, these funds allowed this customer to not only purchase new equipment but build more clinics to expand their service area.
“It’s rewarding to know that we are playing such a critical role in helping this client accomplish their aggressive growth objectives,” said Justin Nielsen, Chief Executive Officer for Onset Financial. “Securing the necessary capital for its expansion as quickly as possible was essential for the client and they appreciated our ability to fund challenging collateral that most of their traditional financing partners simply couldn’t underwrite.”
Because Onset Financial is a privately-owned independent company, options for funding are nearly limitless. In this transaction, the timing was also extremely important for this customer. At their request, Onset was able to fund their construction projects well ahead of schedule, allowing them to maintain good relationships with their vendors. The customer’s expansion will vastly increase their revenues and further solidify their footprint in the world of healthcare.
“Knowing this project had a particular set of extraordinary construction processes related to the installation of sophisticated medical imaging equipment, the Company didn’t believe there was a lender option for this undertaking," said Bruce Brandon, Vice President of Sales. "We believed from previous successes that we were capable of delivering the type of funding this customer required."