SPRINGFIELD, N.J. (October 21, 2016) - Unity Bank has provided Westfield residents Trish Stephens and her husband, Marc Turner, a $495,000 Small Business Administration (SBA) loan to finance the Kidoolo Play Club, scheduled to open in November at 355 Route 22 East in the township.
Kidoolo Play Club, a newly constructed 5,400-square-foot facility, offers a "premier kids' spot that blends an amplified play experience of laser tag, video games, dance floor, and an indoor playground with a modern, ultra-clean and ultra-safe space," said Stephens, who has more than 20 years of experience in business and marketing for Fortune 100 companies. "We will specialize in creating spectacular kids' birthday parties with a variety of party packages and offering a fun, convenient open play club. The vision is to create fun with a flair for this generation and raising the standard of play for both kids and adults."
Unity participates in the 7(a) Loan Program, SBA's primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels. The bank also participates in the SBA 504 Loan program, an economic development program that offers small businesses long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. Unity Bank is consistently among the top 10 of New Jersey SBA lenders in loan volume. The program also serves parts of Pennsylvania and is expanding into New York.
"We turned to Unity Bank for our funding because they have a great reputation of partnering with small businesses," said Stephens. "The bank provided a tremendous amount of support throughout the process and made it a great experience."
Stephens said she expects to have 10 to 12 employees at Kidoolo.
"We wish Trish and Marc much success with their new business," said Unity Bank President & CEO James A. Hughes. "We are confident the new contemporary, centrally-located facility will be a great community benefit."
For more information on Kidoolo, please visit www.kidooloplay.com or call 908-577-2003.
About Unity Bancorp, Inc.
Unity Bancorp, Inc. (Nasdaq: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, N.J. Unity Bank provides financial services to retail, corporate and small business customers through its 15 bank branches in Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania. Unity Bank provides traditional and community-oriented commercial banking services, including personal and business checking accounts and time deposits, money market accounts and regular savings accounts. For more information, please visit www.unitybank.com or call 800-618-BANK (800-618-2265).
PHOTO CAPTION:
Westfield residents Marc Turner and Trish Stephens with their son, Christian, outside the Kidoolo Play Club of Springfield, scheduled to open in November. Unity Bank has provided a Small Business Administration (SBA) loan to finance the new facility.