By Richard Haney
Dr. Kevin Trembush, owner of Advantage Health & Wellness, PLLC in Morgantown is looking for the wave of the future in preventative health care.
“Today’s health care system seems to be too dependent on drugs and surgery to fix a medical issue,” says Trembush. “It makes better sense to try to understand the cause of the ill health and correct that through basic lifestyle adaptions, nutritional intake and reduction of stress to allow your body to be healthy.”
At his health care facility, Trembush focuses on physical, functional medicine to integrate other health care provider educations and philosophies into a single program whose focus is on achieving and maintaining health while using drugs or surgeries as a last resort. The chiropractic doctor is combining the knowledge of chiropractors, physical and massage therapists, nutritionists and medical doctors to naturally teach patients to better manage their health concerns and issues.
Before Trembush could bring all the different medical facets together in one area, he was going to need a much larger and more functional building than the 3,200-square-foot area he was leasing. That’s when he approached Don Robinson at Huntington National Bank in Morgantown to inquire about financing options to build a modern, 5,600-square-foot facility.
“Don had commercial lending experience and thought the U.S. Small Business Administration’s Certified Development Company 504 loan program would be an excellent fit for our project,” says Trembush. “He put my wife, April, and me in touch with Dee McCormick at the Regional Economic Development Partnership in Wheeling, a certified SBA 504 lender for the entire state, and things quickly fell into place.”
The SBA’s 504 loan program is an economic development program that supports small business growth and helps communities through business expansion and job creation. The 504 program provides businesses with long-term, fixed-rate, subordinate mortgage financing for acquisition of capital assets, including land, buildings and equipment.
“Working with Dee on the SBA 504 loan was great,” says Trembush. “You figure a government agency would slow down the process, but the 504 loan application process actually stayed at pace or ahead of the bank.”
The SBA 504 loan was actually approved under the American Recovery and Reinvestment Act, which at the time allowed for the waiving of fees and a lower interest rate, saving Trembush thousands of dollars.
“The SBA 504 loan actually surprised us with how efficient the process was,” Trembush says. “We are extremely happy with the loan terms and how helpful everyone was during the entire process.”
With job creation being a main focus of the 504 program, once the facility was completed and everything was up and running, Trembush was able to nearly double his staffing to 30 employees.
“I’ve heard it said that luck is when preparation meets opportunity, and a lot of luck was involved with this project,” says Trembush. “The business was ready for this and it couldn’t have happened without the support of the SBA 504 loan program. It has allowed us to grow, create jobs and hopefully create a model for the future of the health care industry.”
The SBA’s 504 loans are provided through an SBA-approved certified development company (CDC). CDCs work with banks and other lenders to make loans on reasonable terms, helping lenders retain growing customers and provide Community Redevelopment Act credit. A complete 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of a project, a loan secured with a junior lien from the CDC (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost and a contribution of at least 10 percent equity from the small business concerned. The maximum long-term loan is $5 million for most businesses and up to $5.5 million for manufacturers and energy public policy projects.
For information on the SBA 504 and other loan programs and services, contact the SBA’s West Virginia or Charleston branch offices at (304) 623-5631 or (304) 347-5220 respectively or visit www.sba.gov/wv.
About the Author
Richard Haney has 26 years of service with the SBA and has held positions in nearly every division at the West Virginia District Office. He presently serves the West Virginia District in the capacity of public affairs specialist/lender relations specialist. As public affairs specialist, his duties include the coordination of all public information activities, establishing and maintaining effective working relationships with the media as well as drafting and disseminating news releases and newsletters. He is responsible for working with the West Virginia business community to locate new groups, organizations, associations and other coalitions whose members may benefit from SBA programs and services. As lender relations specialist, he conducts outreach, training, education, development, lender recruitment, consultation and working with lenders throughout the state. Haney is a graduate of Fairmont State University where he earned a bachelor’s degree in business administration. He is an avid runner, having competed in numerous road races throughout the country, and enjoys biking, kayaking and outdoor activities. He is active in his church and a member of the Masonic organization and the media affairs coordinator and member of the Shinnston Community Band.
