Dr. Mei-yao

Mei-yao opened her doors in November of 2008. Although she was concerned because there were five veterinary clinics in the same area where she wanted to open a clinic, a few of the owners were approaching retirement age and there’s no shortage of livestock in South Dakota. So, she purchased a building and began her remodeling project. “During the remodel, I realized that I didn’t have enough money to complete the project, and the local bank was unwilling to give me the additional capital needed. Through a consultant, I was introduced to Annemarie Murphy, a Sr. Loan Officer at Live Oak Bank. Annemarie traveled out to South Dakota to meet with me in person and evaluate my business. I was impressed that she took the time to visit me and was relieved that she accessed me as a person and business owner instead of by my financials,” explained Mei-yao.

Along with providing the loan, Annemarie and Kay Anderson, another Sr. Loan Officer, assisted with her finances and marketing strategies. “They requested that I email them my financials on a weekly basis. After evaluating them over a period of time, they quickly realized that my expenses were too high, so I needed to lower my operating costs in order to control my budget,” stated Mei-yao. Because she had never had to market a business before, they realized that she was pouring money into outdated marketing strategies like advertising in the Yellow Book instead of utilizing free online marketing techniques and social media outlets.  Now, her website shows up on the first page of a Google search, and she has facebook and Twitter accounts. “Social media has provided me with useful tools for notifying my customers about important things like pet food recalls or animals that need homes,” commented Mei-yao.

Now, her business is thriving and Mei-yao is able to hold her own and is continuing to grow her business. “I cannot thank the people at Live Oak Bank enough for having confidence in me. Because they took a vested interest in me and my business, I do not want to disappoint them,” stated Mei-yao.