May 17, 2010, 2 a.m. - A ribbon cutting ceremony was attended by several dignitaries and representatives from the U.S. Small Business Administration and was hosted by the Prince George's Financial Services Corporation, a local non-traditional lender.

 

Opportunity has presented itself to Arthritis and Pain Associates of Prince George’s County and they have opened the door to a new level of success.  Through a collaborative funding partnership, Dr. Adelson, Dr. Thomas, and Dr. Sheyn were able to expand their 30-year old practice to a second location. They purchased and renovated an office condo at 7300 Greenbelt Road, Suite 201, in Greenbelt, Maryland for $2,400,000.  M&T Bank financed 50 percent of the total project cost at $1,243,000, while FSC First, through the SBA 504 long term, fixed asset financing program, financed approximately 40 percent of the costs at $979,000 with a 20 year mortgage.  The loan proceeds were combined with cash equity injected by the owners.

 

Arthritis and Pain Associates of Prince George’s County provides care for patients with various rheumatologic conditions and other causes of musculoskeletal pain.  They specialize in non-surgical treatment of rheumatological and musculoskeletal disorders through various medications, procedures, and appropriate exercise prescriptions. 

 

A mock check was presented by the Bridget Bean and Mr. Steve Umberger, District Directors of the U. S. Small Business Administration for the Washington District Office and Baltimore District Office, respectively.  A certificate of recognition was presented to the company by Floyd Wilson on behalf of Prince George’s County Executive Jack B. Johnson and expressions of gratitude were shared on behalf of Congressman Chris vanHollen and County Councilwoman Ingrid Turner.  Shelly M. Gross-Wade, President & CEO of the Prince George's Financial Services Corporation (FSC First) thanked the Arthritis and Pain Associates for choosing FSC First as their preferred CDC to assist them in acquiring the necessary funding for their new condo offices and expand into a second location.  This acquisition represents the expansion of a thriving and very successful operation that started in Clinton, MD more than 25 years ago.

 

Dr. Adelson stated Arthritis and Pain Associates has three primary missions:  to educate their patients and the entire community on pain management, to hire the highest and best talent to deliver consistent quality care; and to be a good steward in the community they serve.  He expressed appreciation for the very loyal and dedicated staff of 25 that currently serves the residents of Prince George's County.  He thanked Bob Wimbrow of M&T Bank, as well as the entire FSC First and SBA team for embracing his vision for expanded services.  He stated he could not have done it without their unwavering support throughout the loan review, approval and closing process.

 

Gross-Wade thanked the principals of Arthritis and Pain Associates of Prince George’s County for choosing to expand their business in Prince George's County, and noted their reputation for providing their patients with the highest level of care while also being outstanding community stewards.  She stated, "We value your accomplishments as the largest rheumatologic practice in Prince George’s County and honor you today as a success story.  On behalf of the entire Prince George's County community we salute you for this significant capital investment in our local business community."