|Delaware.gov | Governor Jack A. Markell | Visitdelaware.com|
DEDO 2010 PRESS RELEASES
Markell Kicks Off New Year LIFTing New Business
DOVER, Del. (Jan. 4, 2010) - Peninsula Dental, a full service general dental office offering a wide range of services for children and adults, including sedation for patients with disabilities and individuals with anxiety or medical conditions, is expanding its practice in Delaware. Utilizing Governor Markell's Limited Investment for Financial Traction (LIFT) program, the dental office, currently practicing on Rt. 40 as Bear-Glasgow Dental, expanded services into Sussex County.
"We are excited to grow our practice into Sussex County. We chose a location with a need, and which offers great potential. Our ability to offer sedation dentistry and having a bilingual staff is already proving to be helpful in Millsboro," said Peninsula Dental doctor, Glen Goleburn. "We appreciate the warm welcome the community has given us."
The Governor's LIFT program uses $5 million from the state's Strategic Fund to subsidize the interests on small-business loans. Businesses receiving the LIFT subsidy will repay the money to the state after two years, with the individual business owners themselves giving personal guarantees as part of the program.
"Small businesses need to be an engine driving our economic recovery. Seeing our Small Business LIFT help companies like Peninsula Dental put people to work and serve the community is a great start to the year," Markell said.
To qualify for the Small Business LIFT, small businesses must be in operation for at least three years and can have as many as 50 employees. Participating banks agree to defer principal payments during the two years the state is subsidizing the interest.
"The LIFT loan program enabled us to build our new office, purchase the dental equipment, and hire staff," states Peninsula Dental's office manager, John Moore. "We are pleased to be an example of how the Markell administration has provided concrete opportunities for small business to help move Delaware in the right direction in very trying economic times."
Peninsula Dental is using state-of-the-art digital X-ray equipment which limits patient exposure and provides top quality imaging. The office also uses chartless, paperless electronic data processing, which reduces cost and increases efficiency well in advance of federal requirements to use these technologies."
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