A huge problem in this country that rarely gets the amount of attention it deserves is providing health care to rural communities. When rural people go to their local emergency care facilities, they need to be transported sometimes an hour or more to a facility that can perform a life-saving procedure.
Because there is such a lack of proper ambulatory care within these communities, some of these patients wait hours for a ride to one of these facilities. Sometimes that wait time can mean the difference between life and death. Metz Medical Transport was created to fill a void within one such rural North Carolina community that had these very problems.
The Struggle To Get Financing
When Scott Grohs and Scott Morelli tracked ICA down over the internet, they were a little frustrated because they had already been to multiple banks that would not entertain their concept. We basically told them that they probably had just gone to the wrong banks. Start-ups are difficult and there are only certain institutions that will even consider them.
Getting The Start-Up Loan They Needed
We felt their business plan, although it needed tweaking, was really worthwhile and made sense. They also had the right experience and backing of the medical community behind them. This was critical for us to secure a start-up loan for them of $572,000.
They could then purchase three ambulances with the proper equipment, rent an office, and hire workers who they could pay through the loan proceeds. We were able to secure them a 10-year term at 7.5% interest. In addition, the first 6 months would be interest-only to make life a little easier in the initial start-up phase. This is exactly what they were searching for and it is going to be a business that will truly make a difference for the lives of many within a community that has largely become an afterthought in our country.