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Client Stories Archive


Web-based Information Management for Hospitals


Opportunity
In 2002, MedHub started working on a project for the University of Michigan Health System that evolved into a comprehensive web-based information management system that helps teaching hospitals track medical education and documents financial data required by Medicare for reimbursement to the hospital. MedHub now has over 40,000 active users at 21 large academic teaching hospitals worldwide including six of the U.S. News and World Report Honor Roll academic teaching hospitals. And the company continues to grow today. MedHub is forecasting to double its staff by the end of 2012. Because of its growth, MedHub began looking for a new corporate headquarters, and a new banking relationship to support their growth.

Solution
United Bank & Trust provided the local resources and expertise to meet MedHub’s needs. We were able to provide financing to allow the Company to acquire their new building, as well as establish a line of credit to support MedHub's working capital needs.

Benefit
In establishing a relationship with a local community bank, MedHub was able to get the "high touch" service it needed to get them into its new headquarters. The solution provided the right terms to allow it to purchase the real estate and meet its working capital needs with an adequate line of credit. In addition, United provided MedHub with deposit accounts and other Treasury Management services to assist in managing its money.

United Bank & Trust is pleased to have MedHub, Inc. as a client and is proud to offer creative solutions that meet their banking and finance needs.


Medical Building

Opportunity
When Doctors James Berg, D.D.S. and Paula Berg, M.D., owners of River Place Offices, wanted to assume control of their office building where Dr. Berg’s dental office is located and complete tenant improvements to the space, they approached United Bank & Trust, and it’s Health Care Services Group for help.

Solution
United Bank & Trust provided the local resources and expertise to meet River Place Offices’ needs. We were able to restructure their existing debt to assume complete control of their building and undertake tenant improvements, as well as establish a line of credit to support the Berg’s working capital needs.

Benefit
In establishing a relationship with a local community bank, River Place Offices was able to get the "high touch" service it needed to take ownership for their office building. The solution provided the right terms allowing them to restructure their financing package, provide them with adequate funds, and undertake tenant improvements. In addition, United provided River Place Offices with deposit accounts and other banking services to assist the Berg’s in managing their money.

United Bank & Trust is pleased to have River Place Offices as a client and is proud to offer creative solutions that meet their banking and finance needs.


Rubbish Removal

Opportunity
United Structured Finance Company (USFC) was approached by Monroe’s Rubbish to help with working capital needs.

Solution
USFC provided an SBA 7a loan with a 10-year term and amortization that refinanced the company’s existing debt and provided additional working capital.

Benefit
The solution helped Monroe's expand the business by allowing them to purchase inventory of rolling dumpsters (curb carts). In addition, USFC improved Monroe's cashflow by reducing the company’s annual debt service from $186,000 to $72,000 – a savings of $114,000 annually.

Opportunity:
Also, Monroe’s Rubbish asked for USFC’s assistance in financing the acquisition of a new facility that would further improve their growth and efficiency.

Solution:
USFC structured an SBA loan that only requirSARAed a 10% down payment. USFC was also able to refinance the existing location into the new loan solution.

Benefit:
The 10% down payment helped Monroe's retain precious working capital needed to grow its client base. The new location and financing helped Monroe's reduce operating expenses by approximately $50,000 per year. Moreover, the financing solution saved Monroe's approximately $47,000 per year in debt service for this location.

USFC is delighted to have Monroe’s Rubbish as a client and is proud to offer creative solutions in assistance with the SBA.



Complete Packaging, Inc.


Opportunity:

Complete Packaging, Inc. (CPI) specializes in packaging solutions that are delivered to their clients ready to be used with all packing components included. They needed additional working capital to make facility improvements, purchase new equipment and take advantage of upcoming new business opportunities.

Because CPI had shown signs of stress during the recession and operated in a manufacturing sector tied to the automotive industry, their current lender was uncomfortable working with them.

Solution:
United Bank & Trust provided the creative solutions, resources and expertise to meet CPI’s needs. We were able to create a loan structured to refinance CPI’s existing debt obligations and provide the working capital necessary for facility improvements, new equipment purchases and expansion.

Benefit:
By establishing a partnership with a local team of experts, CPI was able to get the personal relationship and support they needed. The solution provided the right terms to allow our client to refinance their debt and reduce monthly payments. In addition, the solution that United was able to create provided the necessary working capital needed to ensure our clients continued business success.

United Bank & Trust is pleased to have Complete Packaging, Inc. as a client and is proud to offer creative solutions that meet their finance needs.




Diane Casalou

“It’s imperative that we make the most of our money, so we have to trust the people managing it,” Diane says. “Having the United team of Carol and David overlooking my retirement savings will go down as the most prudent thing I did in 2010.”

Situation:
After the death of her mother-in-law, Diane and her husband decided to keep their inherited investments managed by United Bank & Trust’s Wealth Management Group, because they were seeing the investments grow during a tough economy. After numerous meetings with David Blough and Carol Sewell, Diane asked them to also manage her University of Michigan TIAA-CREF and Fidelity accounts.  

Challenge:
Diane knew the medical profession, but not finance. Sewell and Blough counseled her on her estate plan to make sure that she’d have the money she needed, and that her beneficiary wishes were consistent with her plan documents.

Solution:
To keep Diane well informed on current tax opportunities, Blough and Sewell coordinated with the Casalou’s CPA to convert a portion of her traditional IRA into a Roth IRA in order to take advantage of the tax preferred treatment of Roth IRA accounts. Diane did not expect to need additional income from her traditional IRA and as a result, it made sense to transfer a portion to a Roth IRA. Her traditional IRA would have required that she take distributions when she turned age 70-1/2 whereas a Roth IRA does not have those requirements. They also were able to manage her University accounts because United has a relationship with both TIAA-CREF and Fidelity to serve as third party advisors. This allowed them to coordinate and manage all the investment and retirement accounts with ease.

Outcome:
For the first time in 30 years, Diane is thrilled with the returns she gets on all of her investment accounts that are now managed by United Bank & Trust’s Wealth Management Group. She’s confident she will have the money she needs to enjoy her retirement without worry.




Adrian & Blissfield Railroad Company

"I'm delighted with United Bank & Trust. They're very customer friendly, they treat you like family."

Situation:
For 16 years, Mark had a business relationship for his company at another bank, but as time went by and that bank changed hands, the relationship became more impersonal. When he was forced to work with a banker in Dallas, he began to feel more and more like a number instead of a client. But the final straw came when an encoding error on a funds transfer cost him big – nearly a thousand dollars in overdraft fees. It took that bank several days to fix the mistake, and they offered no apology. He’d had enough.  

Challenge:
Dobronski wanted to find a team of local bankers he could rely on, who would take his business seriously, and deal with him on a personal level. He needed partners that would take the time to understand the ins and outs of the railroad industry and its challenges, especially in difficult economic times.  

Solution:
Dobronski visited several banks, but it wasn’t until he walked into the Blissfield Banking Office of United Bank & Trust that he found what he was looking for. “Brenda and Michelle made me feel at home, followed up with me the next day, wanted to know how they could help,” he says. “They worked very hard to earn my business.”  

Outcome:
Dobronski and his company have been with United since August of 2010, and he couldn’t be happier. He appreciates the elimination of large amounts of paperwork, and is very happy with the bank’s Treasury Management tools and their online banking system. Instead of making life difficult, the team at United have helped make his life easier by setting up his accounts in a way that he can access them all quickly and easily. But most importantly, he likes the personal touch.  





Wireless Zone - Verizon Wireless Premium Retail Locations

"Working with United is a true partnership. They're encouraging, they're patient - they are truly part of my village."
 

Situation:
In January 2009, Debbie Peterson was left with a bit of a mess when she took the reins of the Wireless Retail and Internet Company she was working for. Debbie met with Pam Jones-Sexton in July of that year and stated that she needed help to reorganize her businesses, purchase three pieces of real estate and assume a lease on the fourth.

Challenge:

The business acquisition posed some unique challenges. United Structured Finance Company (USFC), a division of United Bank & Trust has extensive SBA experience, and can help overcome common objections of conventional banks.

Solution:
Luckily, United was able to help her sort it all out. Kenny Leonard, with USFC, worked with her on a business plan, introduced her to a consultant to get her operations and finances under control and, most importantly, provided three separate, unique financing solutions. With the help of her United team, Kenny and Pam evaluated all available collateral and were able to structure one SBA loan for two pieces of real estate and the majority of the goodwill and business enterprise value, and two conventional loans for the third piece of real estate and the remainder of the goodwill. Each loan had unique terms and collateral pools that were satisfactory to United, the SBA and Debbie. Finally, Kenny and Pam were able to successfully make the case to the SBA that, as a minority partner, Debbie shouldn’t have to inject additional funds to acquire the rest of the business.

Outcome:
After settling what the title company called ‘the most complicated deal of the year’, Debbie now owns 5 wireless stores, plans to open more, and continues to turn to her United team for her financial needs. She considers United a true partner, and that’s the highest praise a bank can get.




New Ann Arbor Homeowner

"The very fact that they were willing to sit down, discuss our situation and talk about something out of the box really amazed us. I would say to anybody, call United."


Situation:
When Michael and Tanya Lexcens moved to Ann Arbor from Las Vegas, they found a neighborhood they liked right away and wanted to buy a house. Renting an apartment with two small special needs children wasn’t optimal – but they couldn’t find a mortgage lender who was willing to work with them.

Challenge:
In a housing market as depressed as Las Vegas, many home owners found themselves upside down on their mortgages. And when Michael Lexcen was transferred here, the Lexcens found that banks were completely unwilling to help them with another mortgage – until a friend suggested they contact United.

Solution:
Betsy Cavanaugh and the mortgage team took the time to sit down and learn all about the Lexcens, instead of turning them away like the other banks. Next, Betsy developed a financing plan that would fit the guidelines of the bank’s unique secondary loan to help with a low down payment mortgage. The underwriters took time to consult and formulate a plan to get them the best rates, while still providing Michael and Tanya the opportunity to maintain their home in Las Vegas, which had been rented. “We viewed their situation as a hurdle, and determined what needed to be done to help them overcome it,” said Cavanaugh.

Outcome:
The Lexcens got the home they wanted in the neighborhood they wanted. According to Tanya Lexcen, the team at United Bank & Trust made a difficult situation easy.




Devils Lake Watersports

"We're not a number, they know us and we prefer to bank with people who know who we are. And for our customers, it's really worked well. They feel comfortable with United, they've had good experiences, and they can always get hold of someone with answers."
 

Situation:
Even in times of financial downturn, people have dreams. Devils Lake Watersports provides them with quality boats and other watercraft, and United helps them realize their dream of ownership.

Challenge:
Devils Lake Watersports needed a banking partner that could help their buyers realize the dream of owning a boat or watercraft. A partner that was responsive, agile and could process loans efficiently while providing an excellent client experience for their customers. They found a partnership with United Bank & Trust.

Solution:
United makes it turnkey for both Devils Lake Watersports and the buyer. They provide an application that the customer fills out, sends in to United, and within minutes the customer gets an answer regarding their approval. It has helped both United and Devils Lake Watersports build business.

Outcome:
It’s a win-win-win situation. According to Marilyn Buka, one of the loan officers Devils Lake Watersports works with, they both appreciate the relationship, and the Apling’s customers do, too. “The Aplings are straightforward, reasonable, and they really care about their business. They provide high quality products and the extra touches that bring them repeat business,” she says. And Mike Apling feels very much the same about United.