2008 Archives
The Harrisburg Regional Chamber & CREDC Helps Finance the Expansion for Paramount Sports
THE HARRISBURG REGIONAL CHAMBER & CREDC HELPS FINANCE THE EXPANSION FOR PARAMOUNT SPORTS
HARRISBURG, PA (September 12, 2008) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that it provided financing through the SBA to Paramount Sports Complex in Annville, Lebanon County, PA. Paramount Sports received the SBA 504 loan along with financing from PNC Bank for the expansion of their current facility.
Paramount Sports is a 35,000 square foot facility dedicated to youth and family physical fitness. It supports training in gymnastics, cheerleading, and other sports. It provides a full fitness center, tumbling floors, gymnastics apparatus and many other opportunities for youth to develop and thrive. The facility will soon provide a basketball court and a new aerobics classroom. The loan provided to Paramount sports financed a 10,000 square foot expansion project, which has enabled the expansion and addition of several programs listed above. The most colorful addition is KIDMAZIUM, a three story indoor play and fitness structure consisting of tubes, tunnels and slides.
James and Holly Plummer, owners of Paramount Sports Complex, are excited to begin their 6th year of providing the highest quality gymnastic and cheerleading instruction and offering a complete family fitness and fun facility. Holly graduated from Lock Haven University with a B.S. in Health and Physical Education. She also holds a Master's Degree in Health Education from Pennsylvania State University. She has participated in gymnastics since the age of 2 and has coached for the past 20 years. She has coached competitive gymnastics to a national level, achieving a national championship. Paramount Sports hosts many competitions throughout the year. In this way they not only support local families but they also bring in thousands of visitors to the area each year.
"I was very impressed with the support and help that Harrisburg Regional Chamber & CREDC provided in facilitating the process for the bank and the client," stated Diane J. Longenecker, Vice President, Business Banker - PNC Bank. "The SBA 504 loan through CREDC is a great program for businesses that want to expand or need to purchase real estate for their company. I have provided lending for several clients over the past few years with this program and, as always, it is a win-win situation for both the client and the bank."
HRC/CREDC assisted the business in obtaining a Small Business Administration (SBA) 504 loan of $700,000 for the expansion project. This loan was part of a financing package that included financing from PNC Bank and other equity contributions. HRC/CREDC has formed a strategic partnership with the South Eastern Economic Development Company of PA to provide SBA 504 loans to our region. As a result of this arrangement, HRC/CREDC provides borrowers local representation, as well as a closing attorney that's close to home.
The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region.
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.
