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Soft Dental
Community Dentistry for over 70 Years
and Still Growing
Owner:
Dr. Tuyen Nguyen, DDS
Location:
Rush City, Minn.
Financing:
$650,000 SBA 504
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Dr. Tuyen Nguyen, DDS had been practicing dentistry for six years and had owned Soft Dental in Rush City, Minn. for three years
when it became apparent that the thriving business had simply outgrown its current location. Dr. Nguyen already owned the
perfect piece of land near Interstate 35 and
just needed the funding to build a larger, 8,000-plus-square-foot building.
Enter Minnesota Business Finance Corporation and
the SBA 504 loan program. A $1.6 million dollar total loan project was able to provide Dr. Nguyen with the capital he needed to begin construction on his dream practice location, all with only a 10 percent equity injection of his own.
Dr. Nguyen’s is a classic story of American small business success. Immigrating to the United States
from Vietnam in the early 1990s, he was able to enroll at the University of Minnesota, receive his doctorate and practice dentistry in both Big Lake and Deerwood, Minn. prior to purchasing Soft
Dental, which has been a downtown Rush City fixture for over 70 years.
The practice has seen rapid and significant growth thanks to Dr. Nguyen’s leadership, including decisions like investing in a fully integrated, modern computer system, new X-ray machines, new dental chairs, and a sterilizing machine, not to mention pursuing the instrumental SBA 504 financing. Soft Dental has expanded from 1,300 patients to a patient base of more than 2,800 today. Revenue has increased to over $1 million per year. These improvements have been good for Dr. Nguyen’s community as well – employment has doubled at the practice during his tenure.
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