Dr. Jeffrey Frachtman sent a message to William H. Rogers, Jr. CEO, SunTrust Banks, Inc. - email address that said:
Mr. Rogers I have enclosed an email sent to the Broward County Suntrust employee that is the area director. After I appealed the initial decision this I was offered a loan for two years if I collateralized the loan. Today I went to my dry cleaners and the owner, without prompt, told me that the manager at Suntrust told her the bank was so slow. That conversation prompted me to reach out to you, the man on the top. I was a Suntrust customer when I was in college in the late 1970s and returned to Suntrust about 10 years ago. I feel so comfortable with your bank, but I dont feel loved or wanted. Please review this email and I would love to hear your comments. Tikun Health Services, Inc.
DR. JEFFREY FRACHTMAN
CHIROPRACTIC PHYSICIAN
December 19, 2016
SunTrust
PO 620009
Orlando, Florida 32862
ATTN: Susan Stutz (Pannetti)
RE: LINE OF CREDIT
Dear SunTrust,
I was recently denied a line of credit to expand my business. Please review the following and reconsider.
-I am a Florida licensed physician for over 36 years. I earned my license in 1980.
-I have been a SunTrust account holder for a long time. In the last eight years I have deposited over 2,000,000 dollars thru my business account. I have never bounced a check. When I applied for the credit line my account had over $30,000.00 dollars. When I received notice of denial I had over $ 40,000.00 dollars in my business account.
-I currently have a business credit card thru SunTrust (for equipment) and have never missed a payment and always pay over the amount required.
-I have a professional relationship with all the employees at the N. Coral Springs branch. One of the financial professionals is a satisfied patient.
-I have equipment in my office valued over $25,000 dollars.
-I have been in this office as the only income producer for over eight years and all rent, utility and expenses have been paid on time.
-I have an automobile thru my office, with a balance of $4,000.00.
-I have never had a malpractice claim or lawsuit related to the business.
PERSONAL
-I am married 36 years and have three children, two married and all my children and three grandchildren live in the same zip code.
-I have lived in my house (1 mile from my office) for 26 years.
-My credit score is 760+.
- I have a home equity line at SunTrust for about 10 years without any errors.
-My 1st mortgage on my house is 26 years in and the balance is $55,000. (Original balance was $227,000). My home now has a 525,000 value.
-My wife owns a business, Engineering for Kids and is presently depositing over $20,000 per month.
-I have no parking tickets, moving violations or lawsuits.
PINE RIDGE SQUARE
4621 N. University Drive, Coral Springs, Florida 33067
(954) 341-5544 FAX (954) 341-5444
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It is my intention with the line of credit to enclose an open area and purchase equipment for an additional treatment suite. I plan on using this new suite to increase revenue and expand my office an additional income producer to contribute to the office overhead. I recently had to turn away a colleague that would contribute up to $2000,00 dollars per month for use of facility.
I also explained to the branch manager that I intend to do the following:
PAY OFF AUTOMOBILE $4000.00 $494.00/MONTH (52 payments on time)
PAY OFF SUNTRUST CREDIT CARD $5500.00 $150.00/MONTH (about 24 payment on time)
TOTAL $9500.00 $644.00/MONTH
I do not have any additional debt. I am very conservative with financial matters and avoid anything that will be over my head. I did not see this rejection coming, I am an excellent account holder at SunTrust. I always understood that banks will loan money when they have a long term relationship with an account holder that proved to them that they are trustworthy, consistent and responsible. Please respond to the above office address. Thank You
Sincerely,
Jeffrey A. Frachtman, D.C.
Chiropractic Physician
CH0003476-Florida
