The Value of Relationships

After six years in a collaborative dental practice, Dr. Lale Adams considered branching out on her own. In 2013, she was approached to take over a practice down the street from her office after the untimely death of a prominent local dentist. Lale and husband Oscar looked to the bank they had trusted for years to help with this time-sensitive acquisition.

“We had a previous relationship with Financial Federal, so we gave them a call,” said Lale. “The answer was swift.”

The speed of the loan response was especially important for this type of situation. “When you’re buying a company that’s 100% goodwill, the business valuation process can be lengthy,” said Lale. “Without our relationship with Financial Federal, the underwriting process might have taken weeks, during which time the patients would have been without care. Thankfully, we were able to call Financial Federal, who made a quick decision.”

They are also using Financial Federal to finance a home renovation. Oscar appreciates the personal attention and service they’ve received throughout the process.  “Financial Federal is reminiscent of an old-school bank,” said Oscar. “My grandfather once told me he relied on his banker for advice when acquiring new land for his farm in Mississippi. If the banker said a property had a history of poor performance, he backed away from the acquisition. A banker should be knowledgeable of his or her markets and guide you in the right direction when making big financial decisions like buying a local business or home renovation.  Ruth Carr, Tom Michael, John Summers, Judson Williford – people who live in my community – have insight into decisions ranging from vetting the location to approving an architect to helping us choose a contractor.  I know they’ll help us make a good decision.”

“That’s why we’ve been loyal to Financial Federal,” said Lale. “They’re grounded in the city. Having the bank understand and commit to your project gives you extra assurances that you’re making a good financial decision. They’re riding along with you.”

For more information on Oscar Adams' home renovation and Dr. Lale Adams' pediatric dentistry, contact Ruth Carr.

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