2011 Archives
THE BUTCHER SHOPPE in Chambersburg Closes on SBA Loan Through CREDC
HARRISBURG, PA (April 11, 2011) - The Harrisburg Regional Chamber & Capital Region Economic Development Corporation (CREDC) announced today that it facilitated and packaged $1,298,000 in financing in the form of two SBA 504 loans for real estate renovations and improvements and to purchase and install equipment for the Butcher Shoppe.
The Butcher Shoppe was founded in 1977 by Glenn and Lorraine Koons and is a grocery retailer of fresh meats, seafood, poultry, deli meats, cheeses, fresh salads, prepared foods, and general grocery items. The company has provided an alternative to supermarket shopping to Franklin County and the surrounding area for over 30 years. The Butcher Shoppe is currently owned and managed by Mary Sue and Frank Keath, daughter and son-in-law of Mr. and Mrs. Koons.
The SBA 504 loan along with financing from Sovereign Bank and private equity leveraged a total economic impact of $3,203,311. The project will also help create 10 jobs and retain 94. CREDC is a certified lender for state programs and the local packager of the SBA 504 program. In this role, CREDC works collaboratively with businesses, their banks and state and federal agencies to develop and package financing solutions to help meet a business's goals and objectives.
"We are thankful for the partnership between CREDC, the SBA and Sovereign Bank in financing such a challenging project for a much needed expansion and renovation of our facility," stated Frank Keath. "Our family, staff and community will certainly benefit from this partnership for many years to come."
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. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties. For more information on business lending programs, please contact Eric Fischer at 213-5038.
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 five stars, the highest standard achievable, from the United States Chamber of Commerce.
