Dr. Bobby Awadalla knew the time was right four years ago. As a double board-certified dermatologist with years of experience, he was ready to establish his own dermatology practice at Skincredible Dermatology & Surgery, in Mission Viejo, Calif., and felt ready to capitalize on the strong market demand for cosmetics.
Expanding into a new market is a great opportunity to build revenue, but it does come with financial challenges. Dr. Awadalla had to buy a full suite of new cosmetic equipment to be able to offer the procedures customers wanted. He started shopping around for a lending partner and soon discovered that all lenders are not created equal.
“My past experience in trying to obtain a loan was difficult. It felt like sleezy sales guys trying to trap you into a loan with terrible terms that you were stuck in for three years or more,” said Dr. Awadalla. “Then I found MMP Capital. They are able to get things done quickly and efficiently, and I never felt like I was being sold. They are genuinely good guys trying to make a difference for small business owners like me.”
“Since I founded MMP Capital ten years ago, we have become the gold standard for medical aesthetic lending in the United States,” said John-Paul Smolenski, Founder and CEO. “As a specialty lender, we understand how new devices will impact a medical practice by opening up new markets and new revenue streams. As such, we can write loans that are approved within hours with industry-leading terms and most importantly a dedicated focus on customer service that treats customers with respect and transparency.”
Through MMP Capital, Dr. Awadalla has financed two devices and secured additional lines of capital, allowing his practice to offer a full breadth of cosmetics including Botox, fillers, lasers/resurfacing, non-surgical face lifts, and body contouring devices. He also recently opened the doors to a new glamourous cosmetic suite to offer a calm and comfortable spa-like setting for customers.
“I am proud to say that Skincredible Dermatology & Surgery is one of the first 50 dermatology practices in the country with a device that provides amazing results with non-surgical face lifts. My patients are experiencing vast improvement in their lower face/jowl area,” said Dr. Awadalla.
“Being able to finance the purchase of this device has made a huge difference for my cosmetic practice. People come from all over to get this treatment, attracting new customers who continue to stay with us for years.”
For medical aesthetic practices, investing in the business is a necessity. Today’s customers know what they want and will find a doctor or practice that has it. Financing equipment with MMP Capital is a simple process that allows aesthetic practices to start making money with their new device quickly, while building a word-of-mouth reputation as a pioneer with the latest and greatest that the industry has to offer.
“One device can make all the difference. Dr. Awadalla realized the importance of being first to market with a unique service and grabbed the opportunity with both hands,” said Smolenski. “He has continued to work with us over the years to remain on the cutting edge of cosmetic dermatology, and I look forward to watching his success while he continually grows his business.”
“The MMP Capital team is an amazing group of people to work with,” said Dr. Awadalla. “I need to have the ability to expand quickly, and with MMP as a partner, I know I will always have financing in hand to offer a new service before any of my competitors.”
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