Banking Partnership Helps AZPetVet Grow to 21 Locations
A Q&A WITH DR. WAYNE ANDERSON, CEO, AZPETVET
WHAT ARE THE BIGGEST CHALLENGES YOU FACE AS A BUSINESS?
Starting with a single veterinary practice in 1984, we have grown to 21 locations and approximately 600 team members and doctors. The ability to finance growth has always been a top concern, especially with ongoing construction projects – including our new 15,000 square foot hospital down the sidewalk from our original location. But financing physical spaces is only one of our financial concerns. Attracting top veterinary talent is key to our success, so the ability to help new, young veterinarians buy in as partners is important to their success as long-term partners and the desire to build a successful practice within the AZPetVet structure.
HOW DID ENTERPRISE HELP SOLVE THESE CHALLENGES?
The Enterprise team truly understands our business, financial situation and desire to expand. They have provided us solutions including various lines of credit to facilitate our growth. Enterprise has also been a great partner as we went through a recent restructuring from 21 different PLCs to a holding company with 21 subsidiary LLCs. They helped us document things like consents and guarantees. But more importantly, they served as a strategic advisor to help us navigate the best structure for our future needs.
WHAT IS THE IMPACT TO YOUR BUSINESS?
Lines of credit and access to capital have provided tremendous opportunities to our business in terms of the ability to finance our growth. The fact that we have been able to expand our business is a testament to the partnership we have with Enterprise. Beyond financing growth, we turn to the bank for their Visa Corporate Card program, and private banking services to make managing our day-to-day lives simpler. It is a true partnership.
With 21 locations and growing, the AZPetVet family provides a network of primary and preventive healthcare for pets, backed by the support of a team of approximately 600 team members and doctors in the Greater Phoenix area.
Enterprise understands our business, how we operate, and where we want to go. That eliminates a lot of financial worry as we grow.
Dr. Wayne Anderson