New Funding to Support Small Business Expansion in PA
November 11, 2020
Governor Wolf just announced a new funding plan to support small business expansion and create jobs in three PA counties.
The four new low-interest loan programs through the Pennsylvania Industrial Development Authority (PIDA) are loans intended to provide for business expansion and job creation in Elk, Lancaster, and Northumberland counties.
So far in 2020 PIDA has approved $34,498,467 in low-interest loans which have led to $67,502,442 in private investment and supported retaining or creating 1,148 full-time jobs.
The new projects approved are as follows:
- Elk Life, LLC was given a low interest loan to buy a building so they can expand their retail business. Elk Life was established in 2018 by the owners of Benezette Wines in Benezette, Elk County. They have cool novelty and gift items purchased from local area businesses, coffee and specialty drinks, ice cream, donuts and other limited food items.
- PAP Technologies, Inc. in Lancaster was also given a loan to expand their printing business and relocate all 44 existing full-time jobs to the new facility.
- Tri-S Management, LLC, also in Lancaster, was given a loan to develop a new 16 acre industrial park.
- Hidden Castle Banquets, LLC in Northumberland County was also given a loan to expand their banquet hall and increase their catering business parking lot
Let’s hope these loans continue to fuel the PA BouceBack!!!!
Thanks for reading!
Have you seen our latest post about how the PA government is trying to help restaurants by giving out free liquor licenses or maybe the latest thoughts about the Coronavirus Vaccine?