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Simmonds Veterinary Hospital | Lehigh County Quick Links Dr. Cougar (in yellow) met with President Obama at Hamilton Family Restaurant in Allentown, Pa. in December 2009. (PHOTO: Monica Cabrera/The Morning Call) Growing up on a farm on the island of Jamaica, Dr. Debby Cougar always dreamt of becoming a veterinarian. She never dreamed she would become a veterinarian who would lunch with the President of the United States, chatting casually about the First Family’s pet. Having started her veterinary practice one year ago—in the throes of a national recession—Dr. Cougar was well qualified to discuss a small business owner’s struggles. She could also attest to how a US Small Business Administration backed loan enabled her to realize her dream of business ownership. After twelve years of practicing veterinary medicine under others, Dr. Cougar was ready to strike out on her own and make her own decisions about what would be best for her patients. The weak economy and tight credit market complicated these plans, however. Dr. Cougar knew that she needed an expertly-crafted business plan and seasoned advice on presenting it to the right financing institutions. She turned to experts at the Lehigh University Small Business Development Center (SBDC) to meticulously review the details needed to secure the necessary business financing. In the fall of 2008, American Bank issued an SBA-backed business financing loan to Dr. Cougar, at once validating her dedication and making her entrepreneurial dreams a reality. New realities keep arriving, and she was able to express these during the lunch with the president. “I talked about people basically lacking disposable income due to the current economic climate,” she said, also noting that small businesses like hers are finding credit and working capital harder to come by. “Any additional access to working capital, such as the micro-loan program, would be helpful. A tax credit for new hires would provide additional incentive to increase staff.” “President Obama was very encouraging and said that once the job market improves, people will start spending more on their pets. He also informed us of programs that they're doing with SBA loans,” she said. “Just seeing my president in person was memorable. Hearing him talk to me about his dog Bo was a definite highlight, as well as his daughters' interest in becoming veterinarians.” Reflecting on her first year as owner of Simmonds Veterinary Hospital, Dr. Cougar acknowledged many challenges but reports business is steadily growing. She credits the SBDC for helping her chart a course for success. Already she’s hired one full-time employee and plans on hiring two part-time employees in the next year as her practice grows. “I am relying on advertising and word of mouth to keep things moving in a positive direction,” she said. -- Related: Wharton SBDC client Marco Lentini introduced President Obama in February. |
