Paw Pack Doggy Daycare is a start-up company located at Lot 6 Easton TPKE, Lake Ariel, Wayne County, PA, 18436. Andrew and Danielle Humphreys are reach 50% owners of the entity. The project includes the construction of a state of the art dog daycare and boarding facility.
NEPA Alliance provided a Tri-District and EDA/ARC loan for $75,000 each at 5.50% for 15 years. M&T Bank is the participating lender in the transaction. The bank term will also include a 9 month construction period with interest only payments. NEPA will fund after construction is complete, with M&T providing bridge financing to the borrowers. The borrowers worked directly with the Small Business Development Center at The University of Scranton to prepare their Business Plan, Financial Projections and Financial Assumptions for the project. These documents were used by both NEPA Alliance and the bank in their underwriting.
Through this project the borrowers were able to construct a state of the art dog day care and boarding facility. The facility will be 6,000 square feet and include a front office area, a play pen area and a boarding area. They will also offer training classes and transportation services for their clients. Additionally, the facility will have four full-time employees, including the two owners, when the facility opens. There will also be one part time employee. The borrowers plan to expand and hire additional employees as needed for the entity.