Medical- Dr. Michael E. Jackson MD - Biz2Credit
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Dr. Michael E. Jackson, MD

SUNY Downstate Medical Center

Dr. Michael E. Jackson, MD, has served the Brooklyn community for the past 16 years. The first African-American dermatologist trained at SUNY Downstate Medical Center, his practice flourished until recently. But the economic downturn and some personal setbacks hurt him. When times got tougher, new patient visits and cosmetic procedures slowed. And the 10.25% financing of his initial funding proved steep.

Unfortunately, Dr. Jackson paid unscrupulous loan brokers who took money from him but did not secure any financing. He engaged Biz2Credit and secured commitments for funding at lower rates from two different lenders. Funding has been approved by NY-based non for profit lender whose mission is to help minority-owned businesses, and a California-based community bank. These are lenders that the doctor would never thought to have approach were it not for Biz2Credit's platform connecting small business borrowers with financial institutions whose lending criteria they meet.

Refinancing at a lower interest rate will provide for operating capital, allow for growth of his practice, and enable him to hire a physician's assistant. Dr. Jackson estimates that this will increase patient volume and revenue by 15-20%.

Having learned the challenges of "the business of medicine," he plays a mentoring role to minority medical students at SUNY Downstate, where he is a clinical assistant professor of dermatology. Dr. Jackson is director of the Ethnic Skin Institute, a member of the AMA, the American Academy of Dermatology, the, Dermatologic Society of Greater NY, National Medical Association, National Psoriasis Foundation, and the National Vitiligo Foundation.

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