CLIENT SPOTLIGHT
McCoy Institute of Hearing and Balance, LLC
Empowering Expansion: Black-Owned Audiology Practice Extends Reach with BBIF Support
Located in Jacksonville, Florida, McCoy Institute of Hearing and Balance, LLC has been a beacon of comprehensive care for over a decade. Founded and managed by Natalla McCoy, Au.D., this audiology practice specializes in diagnosing and rehabilitating individuals with hearing and vestibular dysfunctions, including diagnostic audiological evaluations, tinnitus treatment, hearing aid fittings, and vestibular evaluations and rehabilitation. With a focus on delivering top-notch services, McCoy Institute has become a trusted name in the healthcare landscape of Jacksonville.
DEMOGRAPHIC
Black-Owned
LOCATION
Jacksonville, FL
LOAN PROGRAM
General Loan Fund, Micro Loan Fund


THE CHALLENGE
Limited Resources for Strategic Expansion
As McCoy Institute sought to expand its services to include dentistry, the company faced a challenge in securing the necessary resources. The expansion was crucial for the institute's growth strategy and its commitment to offering comprehensive care to its patients. Despite this challenge, Natalla McCoy remained determined to find a solution, recognizing the opportunity for growth and the potential to better serve the community.
Expanding into dentistry required substantial investment in acquiring a new commercial property and furnishing it with specialized equipment. This expansion also necessitated hiring additional staff, including a full-time dentist, to provide high-quality dental care. These factors combined made the financial aspect of the expansion a significant challenge for McCoy Institute. However, the institute's commitment to providing holistic care to its patients, along with its dedication to serving the community, fueled McCoy's drive to overcome these obstacles and find a path to expansion.
THE SOLUTION
Strategic Partnership with BBIF
Recognizing the need for strategic financial support, McCoy Institute forged a partnership with BBIF, a move that proved instrumental in realizing its expansion goals. BBIF's loan empowered the company to acquire a commercial property previously used as a dental office, fully furnished with the necessary dental equipment, and secure working capital. This financial boost enabled McCoy Institute to navigate the immediate challenges of expansion and lay a solid foundation for sustainable growth and operational stability.
BBIF's loan programs provided McCoy Institute with the financial flexibility needed to execute its expansion plans effectively. With the loan, McCoy Institute was able to acquire the new dental office and expedite the launch of their dentistry services, saving costs in the process. Additionally, the working capital allowed McCoy Institute to cover operational expenses during the initial phases of the expansion, ensuring a smooth transition into offering dentistry services alongside their existing audiology services.
"I am deeply grateful to BBIF for providing the support and opportunities that have allowed our company to flourish. As we look ahead, I’m excited for what we can achieve together.”
Natalla McCoy, Au.D.
Owner of McCoy Institute of Hearing and Balance, LLC

THE IMPACT
Positioned for Growth and Impact
With the backing of BBIF, McCoy Institute is now better positioned than ever to serve its patients. The expansion to include dentistry services has not only enhanced the company's service offerings but also improved its revenue streams, setting the stage for continued growth and success. This strategic partnership with BBIF not only addressed the immediate financial need but also positioned McCoy Institute for long-term success, ensuring its continued growth and impact in the healthcare industry of Jacksonville.
The expansion has also allowed McCoy Institute to create new job opportunities, including hiring a full-time dentist, thereby contributing to the local economy. Moreover, the increased service offerings have attracted a broader patient base, enabling McCoy Institute to serve more individuals with hearing and vestibular dysfunctions, as well as expand its reach to individuals in need of dentistry services. Through its partnership with BBIF, McCoy Institute is not only meeting the healthcare needs of the community but also contributing to its economic growth and development.