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Delaware SPCA, Applied Bank partner on plan to support upstate shelter

January 10, 2018

The Delaware SPCA has broken ground on a years-long development plan designed to ensure a viable future for the shelter, made possible in part by a partnership with locally owned and operated Applied Bank, a top-rated Delaware lender. Financing from Applied Bank will enable the shelter to provide the infrastructure necessary to lease out the road-facing portion of the SPCA's nearly 21-acre property at 455 Stanton-Christiana Road while retaining ownership of the land.

The SPCA remains fully open during construction, offering adoptions, spay/neuter surgeries, affordable wellness services and grooming.

"The Delaware SPCA is proud to be able to work with a fellow Delaware institution as we enter our 145th year of serving our state's animal welfare needs," said Kathie Herel, president of the SPCA board of directors.

"The SPCA's needs for the development plan were unique. Applied Bank took the time to understand them and quickly found us an option to move forward," said Anne Cavanaugh, acting executive director.

"It was a pleasure to work with a great organization like the Delaware SPCA," said Art Lodge, chief lending officer of Applied Bank. "We worked closely with their leadership group to structure a loan that will be beneficial to the future of the shelter. Applied Bank is proud to add the Delaware SPCA to our growing list of valued customers."

The development consists of three pad sites. The first to be developed will house a Royal Farms convenience store and gas pumps, expected to be completed in mid-2018. Leases for the remaining pads are in negotiation.

 

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