Quad City Psychotherapy

The undeniable parallels between motherhood and entrepreneurial excellence explain why so many women possess an innate capacity for startup success. The tenacity, leadership, discipline, dedication, resilience, process-minded mentality, and self-esteem honed through life experiences are remarkably transferable to the entrepreneurial journey.

Annika O’Melia, LISW, LCSW, owner of Quad City Psychotherapy PLLC, grew up in Rock Island, Illinois, and returned to her community after completing her master’s degree in social work and working in her field for several years. Annika served as a therapist and then CEO of Edgerton Women’s Health Center in Davenport, Iowa, before opening a solo private practice in 2017. Since 2017, Quad City Psychotherapy has grown exponentially through the addition of clinicians and purchase of two buildings…establishing a strong foundation in Annika’s local community and providing exceptional mental health care to folks throughout the Quad City area.

We asked Annika a few questions about her journey, her experience with the SBA 504 Loan Program, and her accomplishments as the owner of a growing, successful business.

What inspired you to become an entrepreneur?

I did not set out to be an entrepreneur. In 2016, I found myself a bit overwhelmed with the prospect of a full-time job as I had 4 kids, age 5 and under, with the youngest being twins. I started a solo private psychotherapy practice to have more flexibility as a working mother. A colleague approached me about a year into the venture asking to join me. It worked out so well, I slowly added new clinicians and then acquired additional space to house the team. We are now a team of 25.

What problems did the SBA 504 Loan Program help solve as you’ve grown your business?

I’ve used the 504 Loan Program twice, and both times 504 loans helped me purchase buildings…one in Rock Island, IL, and the other in Davenport, IA. Owning these buildings grounds us in the community and provides a sense of stability… both to clients and to those working for Quad City Psychotherapy. We aren’t going anywhere anytime soon. Plus, we are not subject to lease renewals and unexpected cost increases related to rent.

I started a solo private psychotherapy practice to have more flexibility as a working mother. A colleague approached me about a year into the venture asking to join me. It worked out so well, I slowly added new clinicians and then acquired additional space to house the team. We are now a team of 25.

Did you try other means of financing before deciding on an SBA 504 Loan?

I reached out to banks and community resources. SBA seemed to be my best option.

How was your experience with the 504 loan process?

Wonderful. I have done two SBA loans and each time the folks helping have been great.

How did you feel when you found out you were approved for a 504 loan?

Excited. I wasn’t sure how else I would have grown without the 504 option.

Since launching your business, how have you positively impacted the community in which you’re located?

We have acquired two buildings, putting close to $200,000 into the buildings in upgrades. We employ and contract with roughly 25 people, creating jobs for our community. As a mental health provider, we have increased the options and access to mental health care in our community.

Do you have any notable business accomplishments/milestones you’d like to share?

We reached the $1,000,000 in gross revenue mark last year and will hopefully surpass $2,000,000 this year.

What has been your most satisfying moment in business?

Leading my staff in a way that feels good. I am a flexible business owner, providing my team with autonomy, flexibility and freedom.

If you could impart one piece of wisdom to a budding entrepreneur, what would it be?

I have been a little scared at every growth point. I think that’s normal. If you have a solid business plan, just put one foot in front of the other and trust the growth process.

This business’ building purchases and renovations created jobs and provided an economic development boost in a community with a comprehensive revitalization and community development plan in place.

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