Unity Bank SBA Loan Funds New Animal Hospital

By Yankee Public Relations
Unity Bank has provided a Small Business Administration (SBA) loan to fund a state-of-the-art veterinary practice and animal hospital scheduled to open at 109 Pompton Avenue in Cedar Grove later this summer. Well Pet Animal Hospital will feature a 4,000-square-foot facility with two exam rooms, digital radiography, full diagnostic laboratory, pharmacy, surgical services, as well as pet grooming and boarding.
The $800,000 SBA 7(a) loan was provided to David Wellington, D.V.M. of Bloomfield, a practicing veterinarian since 2007. Before earning his Doctor of Veterinary Medicine from Tuskegee University School of Veterinary Medicine, he earned a degree in Animal Science/Pre-veterinary medicine from Tuskegee University and an Associates in Applied Sciences in Veterinary Technology from the State University of New York at Alfred. After earning his veterinary degree, Dr. Wellington completed a post-doctoral training program at Yale University School of Medicine in New Haven, Conn., and also worked in both private small animal practice and shelter medicine.
Dr. Wellington and his fiancé, Veterinary Technician Martha Baquero, founded More than a Walk, a mobile veterinary practice, pet sitting and dog walking business in 2011. Dr. Wellington will continue to offer pet owners veterinary care in their homes after the animal hospital opens.
“Unity Bank was recommended to me by our realtor and they have been great throughout the process,” said Dr. Wellington. “We received one-on -one attention from Unity Bank and it really made all the difference in the world. Martha and I are both life-long pet lovers and our goal is to provide quality veterinary care at an affordable price. Unity Bank is helping us bring that dream to life.”
Unity Bank participates in the 7(a) Loan Program, SBA’s primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels. The bank also participates in the SBA 504 Loan program, an economic development program that offers small businesses long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization.
“Unity Bank will provide SBA loans to any business based in New Jersey,” said Debbie Godt, Unity Bank Vice President/SBA Business Development Executive. “We’re committed to helping people start-up new businesses statewide. Dr. Wellington has an amazing work ethic and significant hands on experience and is an excellent candidate for starting a new business through our SBA program. We are thankful for the opportunity to help him fulfill his dream.”
Dr. Wellington said he is awaiting building permits for renovations to the property, which is zoned for commercial use. He hopes the animal hospital will be open by July or August and plans on having a staff of four, including himself and Baquero.
In 2005, Baquero acquired her Associates of Applied Science in Veterinary Technology degree from LaGuardia Community College in New York. For 8 years, prior to relocating to New Jersey, she worked as a kennel and adoption center associate, and isolation/emergency ward veterinary technician at the North Shore Animal League America in Long Island, N.Y. In addition, Baquero also helps animals in need by funding spay and neuter campaigns in her native Colombia.
For more information on Unity Bank’s SBA lending program, please visit www.unitybank.com/business_loanslines.asp.
About Unity Bank
Unity Bancorp, Inc. (NASDAQ: UNTY) is a financial services organization headquartered in Clinton, N.J. Unity Bank provides financial services to retail, corporate and small business customers through its 15 bank branches in Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania. Unity Bank provides traditional and community-oriented commercial banking services, including personal and business checking accounts and time deposits, money market accounts and regular savings accounts. For more information, please visit www.unitybank.com or call 800-618-BANK (800-618-2265).