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Local veterinarian expands practice with FirstBank loan

The COVID-19 pandemic and resulting lockdowns, which led employees to work from home, also increased the time people spent with family and pets. Consequently, the veterinary industry experienced rapid growth. 

According to the Associated Press article “Furor over pets during the pandemic saturates veterinarians,” this was a period “when people worked at home and spent more time with their animals, while giving owners more opportunities to identify lumps, lameness and other problems.”

The demand for veterinary care has remained steady since. In the interest of continuing to drive growth for its commercial clients, FirstBank has supported Dr. Eduardo Díaz-Argimon, owner of Baldwin Animal Hospital, by facilitating the financing process for the purchase of Caparra Animal Hospital. The business loan, guaranteed by the U.S. Small Business Administration (SBA), was tailored to meet the needs of all transaction parties.

“At FirstBank, we’re pleased each time we see how our support contributes to the growth of our clients, and also to the well-being of those customers they serve,” said Ildefonso Rodríguez, vice president and director of FirstBank’s Small Business Unit. “This is the case with Dr. Díaz, whose veterinary services have become a necessity for an important sector of our population. And because we’re committed to improving the well-being and quality of life for our communities, we recognize that pets are an essential part of people’s lives.”

Díaz-Argimon cited the effective relationship with FirstBank during a previous loan as influential in his decision to work with the financial institution again. 

“The transparency, efficiency and support I experienced during that time were aspects I greatly valued,” Díaz-Argimon said. “As I embark on this second business venture by acquiring a second clinic, the choice to partner with FirstBank stems from the belief that I’ll have solid support and reliable financial guidance. In short, I considered FirstBank for this new venture because of the positive past experience and trust built over the years, as well as the security of having a financial partner who understands and supports my business goals.”

Dr. Díaz-Argimon provides support to various rescuers in the metropolitan area by offering hygiene services to rescued animals and, with the acquisition of Caparra Animal Hospital through an SBA 7A loan, is planning a new strategy to address the area’s overpopulation of street dogs and cats, focusing on sterilization and preventive care to facilitate adoption. 

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