FINANCIAL SERVICES, AWARD RECIPIENT
From an early age, Eric and Robert Castro were pondering how they could make their mark on the world. When they met Albert Crawford at a networking event in 2001 and they recognized their combined expertise in the health care financing industry, they saw it as an opportunity to create something that hadn’t been done before. Using the little capital available to them, the three colleagues founded Bankers Healthcare Group Inc., a business that provides quick working capital promissory notes at high interest rates to U.S. health care professionals.
Within the first three months, the company enjoyed quick success. And the three founders have taken careful steps to overcome any roadblocks to growing their entrepreneurial venture over the years. To do this, its leadership maintains a constant focus on the customers, from the doctor to the dentist, veterinarian, chiropractor and other health care providers.
An especially trying year for Bankers Healthcare Group was the year 2011. Realizing that the company was losing about 40 percent of its potential customers, who were turned off by the high interest rates on their loans, the leaders knew that they needed to adapt. They responded by introducing two new services for customers — Fund-Ex loans and the Business Healthcare Group Visa credit card.
With the Fund-Ex loans, the co-founders offered their customers a longer turnaround time and lower interest rate than in the past, which appealed to a broader group of consumers in the marketplace. And by designing a new credit card option with physicians in mind — perks include a rewards program that can be used toward malpractice insurance or medical equipment — the company continued to build its reputation with health care providers, ensuring a path for future growth.
HOW TO REACH: Bankers Healthcare Group Inc., www.bhg-inc.com
