Business Owner Uses LTADD’s Revolving Loan Fund to Anchor Her Future in Central Kentucky

For 34-year-old physical therapist Erica Vance, owning her own practice wasn’t just a fleeting career thought, it was a 10-year goal. Having worked as a PT for 11 years, including five years at Springfield Physical Therapy, Erica had always dreamed of taking the helm of a practice that truly served its community.

When previous owner Kay Conner-Israel decided it was time to fully retire, the opportunity Erica had spent a decade preparing for arrived.

Kay was deeply community-oriented and wanted to ensure the practice remained local while preserving the warm, welcoming atmosphere her patients had relied on for years. “We had very similar goals and visions for Physical Therapy in our community, and I am thankful that God crossed our paths,” Erica said. Rather than starting from scratch or seeing the clinic acquired by a regional chain, Erica spent the past few years buying interest in the practice.

When Kay was ready to step away completely, reality set in for Erica. Transitioning into full ownership as a young entrepreneur required capital, precise planning, and the right financing partners.

That is where the Lincoln Trail Area Development District (LTADD) and its Revolving Loan Fund (RLF) stepped in. Recommended by her bank loan officer, Misha Wilson at Farmers National Bank in Lebanon, Erica connected with RLF officer Anthony Hellmueller at LTADD to structure a finance package.

By securing a $100,000 Revolving Loan Fund loan through LTADD, Erica was able to pair the regional RLF funds directly with her commercial financing. This allowed her to complete the acquisition without having to leverage personal assets, a game-changer for a young business owner.

“It felt like winning the lottery,” Erica said. “It helped put me in a much better financial position to take on this company at such a young age.”

Beyond providing capital, the RLF process provided clarity and structure. By agreeing to maintain and grow jobs in the area, the loan program aligns Erica’s business vision directly with the economic development goals of the Lincoln Trail region.

“The vision of both my company and LTADD aligns well and by receiving this loan it will help keep me accountable to my own goals and these shared community goals,” Erica said. “The application process challenged me to put my goals down on paper which keeps me moving forward.”

With the transition complete, Erica is focused on maintaining the community-focused care that Springfield Physical Therapy is known for while setting her sights on future expansion. Her ultimate vision is to grow the business from one location to three across the region. To align with this vision the name of the company has been officially changed to Central Kentucky Physical Therapy. 

And when the time comes to expand her footprint?

“I might be back for the next expansion,” she said.

The Lincoln Trail Area Development District’s Revolving Loan Fund provides gap financing to small businesses across the eight-county region to foster job creation, support business retention, and stimulate local economic development. To learn more about RLF opportunities for your small business, contact LTADD today.