2009 Archives

CREDC Finances Another Cumberland County Business

HARRISBURG, PA (November 10, 2009) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that it provided financing through the Small Business First (SBF) loan program to Hoffman Materials, LLC, based in Carlisle (Cumberland County).  HRC/CREDC assisted Hoffman in obtaining an SBF loan of $200,000 for the project.  This loan was part of a financing package that included credit from Community First Fund and bridge financing from Orrstown Bank.

Hoffman Materials LLC is a manufacturer that processes crystalline materials such as quartz, fused silica, langasite, langatate and more into various products to be used for a wide range of industrial applications.  The financing was used for the purchase of equipment.  The equipment purchase was needed in order to meet an increasing sales demand recently created by the takeover of the former Hoffman Materials, Inc.  Hoffman Materials has committed to retain 8 full time jobs and create 10 full time jobs within three years.

This deal increases the economic impact of CREDC financing in Cumberland County to over $56 million since 2001 and over $280 million in Cumberland, Dauphin and Perry Counties. Cumberland and Dauphin Counties both rank in the top 10 statewide for Small Business First deals in Pennsylvania for the period 2003-04FY to present. 

The Small Business First program is designed to stimulate the expansion and assist in the retention of small businesses for the purpose of creating new jobs and retaining existing jobs. SBF provides low-interest loan financing for a portion of the costs of land, building, machinery and equipment, and working capital to businesses unable to fully finance these projects with equity, bank financing, or other private and public sources.

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 organization offers a variety of programs and resources to help attract, retain and expand business in the region including the Murata Business Center in Carlisle.

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, a Pennsylvania Certified Area Loan Organization and PIDA Certified by the Pennsylvania Industrial Development Authority Board.