Widener University SBDC Client Success Story
As owners of Silvercare Adult Daycare, LLC, and Everest Medical Care, LLC in Upper Darby, Pennsylvania, Dr. Li and Dr. Wang have created the Silvercare Nursing and Rehabilitation Facility to serve people who have lower incomes or struggle with language barriers, and can’t or don’t know where to find the healthcare that they have a right to. Creating the name of “Silvercare Campus,” was to gear this center towards the seniors in the community, and others who need various services, not just simple doctor visits.
“Widener SBDC consultants helped us plan and access capital for our project.”
Across five different buildings, and over 300 thousand square feet, this 42 million dollar project will create a campus that will lead to the creation of 300 high-paying jobs in our community. The end-goal: to provide the best healthcare for our community’s seniors and patients, while also providing a boost to Chester City’s tough economic situation. To best create this campus, Dr. Li and Dr. Wang are opening in phases. Thus far, phase one has been completed, and is providing urgent care in Chester City. The urgent care facility is estimated to serve 20 to 40 thousand people every year, alone.
Following their successful experiences in Upper Darby, they plan on expanding significantly within the next four phases. Some of those expansions will include the creation of 200 long-term senior care units, 100 apartment units, 1000 drug and alcohol rehabilitation units, and many other healthcare and general accommodations. Dr. Li and Dr. Wang understand that Chester City, as an Act 47 community, deserves to have access to better health care, and they hope that their Silvercare Campus will do just that.
After attending the “Engage!” Program, the Widener University SBDC’s Center of Excellence for Health and Life Sciences leaped into action. We began by acquiring valuable market research, financial feasibility analyses, and information to best understand economic programs like LERTA, Chester City’s CDBG program, and local zoning processes. We also introduced them to various lenders, and guided them in applying for New Market Tax Credits and commercial loans needed to acquire and redevelop the property. With that assistance, Dr. Li and Dr. Wang were able to purchase the site and obtain a bridge loan from the Community First Fund. That funding and the completion of phase one, has already provided top level healthcare for tens of thousands of people, and Dr. Li and Dr. Wang’s next four phases will help provide for tens of thousands more.