Business Financing
Success Stories
The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced that it provided $497,000 in financing through the SBA 504 direct loan program to help Mikado Japanese Steakhouse and Sushi Bar relocate their restaurant to 4717 Carlisle Pike, Hampden Township, Cumberland County. CREDC's loan along with financing from Metro Bank supported the building purchase and renovations. The new location is approximately 3200 square feet larger than the previous space and provides additional seating and hibachi grills for Mikado's very entertaining style of dining.
The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced that its funding for growing small businesses is on the upswing. 2009 was a record year for CREDC loan programs with 25 businesses receiving approvals for over $9.2 million in low interest subordinate financing. This kind of economic development assistance will help leverage another $16 million of private investment in our region and will retain and create 455 jobs. 3 of these businesses recently completed their projects and closed on their loans with CREDC.
Art Communication Systems, a commercial printing and mailing company located in the City of Harrisburg and now in Lower Paxton Township, Dauphin County, received a $159,000 Small Business First (SBF) loan as well as financing from M&T Bank to help buy new machinery equipment which will support product and service diversification for the growing company. The total project was $348,000 and will help retain and/or create 35 jobs.
Precision Digit-All Solutions received a $97,650 SBF loan as well as financing from Mid Penn bank to buy equipment for their new company. The company is a small run digital print press company that also does mailing and fulfillment. The total project was $217,000 and will create 6 jobs all to be located in Lower Paxton Township, Dauphin County.
RMR Central Services, a mechanical contractor specializing in HVAC and plumbing, received a $64,500 SBF loan which was matched by equal amounts of private equity investment. The company used the loan proceeds to purchase a new building on Locust Lane in Lower Paxton Township and move their growing business which has been operated from their home for the past 5 years.
The Harrisburg Regional Chamber and CREDC (HRC/CREDC) announced that it provided financing to Wister Street Partners, a real estate holding company for the facilities of Inclinator Company of America located at 601 Gibson Street, Harrisburg, Dauphin County, PA. Inclinator Company of America expanded its production facility by 24,000 square feet at the current location. The project is expected to help retain the company's 64 current employees and create another 10 - 15 jobs within the next three years.
