PITTSBURGH DISTRICT OFFICE
December 3, 2010
Contact: Janet Heyl (412) 395-6560
Release Number: 11-02/PGH
SBA prescribes loan program for local doctors, helps cultivate a family friendly pediatric practice
PITTSBURGH – When Dr. Todd Wolynn became a new father, he was willing to stay up nights to nurture his three children. With the help of the U.S. Small Business Administration (SBA), Wolynn, 44, is again finding himself forgoing sleep to care for his new baby – an all-encompassing pediatric practice in a Greenfield strip mall.
Wolynn and partner Dr. Albert Wolf recently utilized the newly implemented Small Business Jobs Bill to purchase the Greenfield location to develop their practice by offering traditional services and providing a one-stop care center for children newborn to age 18.
The two doctors met while completing their pediatric residency at Mercy Hospital and joining their instructor as physicians at the former Southwestern Pediatric Association. In June, Wolynn and Wolf formed the Kids Plus Pediatrics practice in Greenfield and companion office in the Pleasant Hills section of Pittsburgh.
The two recently closed on the Greenfield location, enabling them to purchase the former Southwestern Pediatric Association site plus four additional retail slots. The doctors now own the practice and building where they have routinely met with young patients and their parents for more than 10 years. The practice houses the Breastfeeding Center of Pittsburgh, adoption health services, infant nutrition and sleep services and a wellness center.
For Wolynn and Wolf, pediatrics was a natural fit. Each was a standout in science and worked with children as coaches and camp counselors.
“We have a philosophy where we listen to families, focus on intimate relationships and never rush anyone out the door,” Wolynn explained. “By combining that philosophy with the progressive use of business and social applications, we hope to create the pediatric practice of the future.”
Under a collaborative effort between the Regional Development Funding Corporation (RDFC) and PNC, the partners obtained an SBA 504 Loan and qualified for a waiver under the Jobs Bill on any lending fees, which saved them more than $16,000. Wolynn and Wolf used the funds to upgrade the facilities, employ clinical and administrative persons and hire a communications director and project manager.
“These two individuals will enable us to implement new activities and communicate with parents via social networking and educational videos,” Wolynn said. “We also have a Health and Wellness Center where we provide classes to expecting parents and in the future hope to offer yoga and Pilates classes to parents and community residents.”
Carl Knoblock, Pittsburgh SBA district director, said Wolynn and Wolf are prime examples of what people can do when they think outside the box. “This is a great example of two professionals in traditional fields using new technologies and employing business professionals to grow their practice and become an even greater asset to the community,” stated Knoblock. “They understand the importance of offering services that enhance the lives of their clientele, whether it’s an instant message parenting tip or extended services.”
Rebecca MacBlane, executive director of the RDFC said because of their unique services, she found it particularly satisfying to support Drs. Wolynn and Wolf. “They offer all-encompassing care for parents before, during and after birth,” she said. “It’s a unique approach to pediatrics and I’m pleased to have assisted them.”
Wolf said the SBA’s assistance enabled Kids Plus Pediatrics to grow into the multi-faceted practice once envisioned by its founders.
“Because we were a new entity and forming our practice at the same time, we just didn’t have the financial numbers to complete this without the SBA,” he explained. “The loan enabled us to do a lot more for our young patients.”
The 504 Loan Program is an economic development program that supports American small business growth and helps communities through business expansion and job creation. This SBA program provides long-term, fixed-rate, subordinate mortgage financing for acquisition and/or renovation of capital assets. Loans are provided through Certified Development Companies (CDC’s) who work with the lending community to make loans in first position on reasonable terms, helping lenders retain growing customers and provide Community Redevelopment Act Credit.
If you would like to arrange an interview with SBA Pittsburgh District Director Carl Knoblock or Dr. Wolynn and Dr. Wolf, or would like further information on SBA’s loan programs, please contact Ms. Janet Heyl at 412-395-6560 x103 or by email: Janet.Heyl@sba.gov
The U.S. Small Business Administration – helping small businesses start, grow and succeed.