PIDA Interest Rate Lowered to 2%

On July 5th, the Pennsylvania Industrial Development Authority (PIDA) lowered its economic development lending interest rate for new applications to 2% fixed for up to 15 years for projects approved during the second half of 2017. EDC Finance utilizes PIDA loans to work with Lancaster County manufacturers, industrial enterprises, farmers, agri-businesses, and other eligible borrowers […]

Published on July 31st, 2017|

Universal Athletic Club, Inc. Expansion

Universal Athletic Club, Inc., an established athletic club facility in Manheim Township, has completed renovations to their existing facility on Oregon Pike. Improvements included the addition of three new studio spaces for high demand group fitness classes, as well as renovations to the existing day spa and hair salon. You can read more about Universal Athletic Club, […]

Published on July 31st, 2017|

Ames Reese Plans Expansion

Ames Reese, small parts manufacturer for the automotive industry, is planning a multimillion-dollar project that will add 86,600 square feet and 30 new jobs. EDC collaborated with the Lancaster County Workforce Development Board, HACC, East Lampeter Township, and PA Department of Community and Economic Development to facilitate the company’s expansion plans and to help address […]

Published on June 13th, 2017|

PIDA Visits Lancaster

On May 16th, Jared Lucas and Nic Horting, Directors from the Office of Business Financing in the Pennsylvania Department of Community and Economic Development visited Lancaster to meet with businesses that have recently utilized Pennsylvania Industrial Development Administration (PIDA) loans for various projects. The Office of Business Financing works closely with EDC Finance Corporation to make PIDA projects […]

Published on June 13th, 2017|

IDA Savings Calculator is LIVE!

Attention all manufacturers and 501(c)(3) organizations…
If you are considering bank term loan financing for an upcoming transaction, a tax exempt interest rate may be available for your loan request.  EDC Finance partners with Penn IDA to offer commercial lenders and eligible borrowers a convenient way to test if their project is eligible to achieve […]

Published on May 12th, 2017|

A Snowy Groundbreaking for Rocky Springs

Rocky Springs Entertainment Center broke ground in March for its planned expansion at 1495 Millport Road.EDC Finance worked in conjunction with Orrstown Bank to arrange the financing package, which included an SBA 504 loan.

Published on April 24th, 2017|

Happy 30th Birthday, EDC Finance!

EDC Finance is celebrating its 30th year in business as an economic development financing entity since its formation in April 1987.  Over the past three decades, EDC Finance worked with hundreds of businesses, developers, and farmers who have invested hundreds of millions of dollars in projects to strengthen Lancaster County’s economic position.  For its first […]

Published on April 24th, 2017|

EDC Finance Funds Centerville Area Businesses

DM/A Reveals Its Renovated Building

David Miller/Associates, Inc. (DM/A) an established local civil engineering firm specializing in landscape architecture, civil engineering, planning, geology, and surveying, recently completed the acquisition of its leased headquarter facilities on Centerville Road. In addition, the company completed several renovations and upgrades to the facility.
EDC Finance provided a $250,000 SBA 504 loan […]

Published on March 10th, 2017|

B&B’s Custom Trim Finds a New Home

B&B’s Custom Trim, Inc., a supplier of interior and exterior trim material for commercial and residential customers, has purchased and renovated a new headquarters facility on Mount Joy Road in Manheim.  EDC Finance Corporation, in conjunction with First National Bank, approved a $502,000 SBA 504 loan to help the project secure a 20-year fixed interest […]

Published on February 14th, 2017|

EDC in Your Community

EDC Finance Corporation Elects
New Board Leadership
At its December meeting, the Board of EDC Finance Corporation elected Michael R. Carper, President and CEO of HDC MidAtlantic, as Chair after serving as Vice Chair of the organization for the past two years.  Michael W. Davis, Esq., Partner at Barley Snyder, was elected as Vice Chair.  Both will […]

Published on January 18th, 2017|

Rocky Springs Entertainment Center Set to Expand in 2017

EDC Finance is excited to announce Rocky Springs Entertainment Center has been approved for their second SBA 504 loan, this time to assist owner Sherry O’Neill and her husband Fred with a major expansion. Construction is set to begin shortly to add new entertainment options to the facility including a laser tag arena, expanded redemption […]

Published on December 12th, 2016|

EDC Annual Meeting Attracts Hundreds of Business Leaders

 

In addition to announcing $2 million in grant awards to support the new Center for Regional Analysis, EDC also celebrated a range of accomplishments and plans.

Specifically, it noted volume in 2016 for EDC Finance Corporation:

Surpassed 100 SBA 504 loans, leveraging more than $245 million of total investment that provided subordinate financing to more than […]

Published on November 15th, 2016|

EDC Finance Approves 100th SBA 504 Loan

EDC Finance Approves 100th SBA 504 Loan
EDC Finance is happy to celebrate its 100th SBA 504 loan approval since becoming an SBA 504 Certified Development Company lender in 2009. With additional recent activity, EDC Finance has now approved 106 SBA 504 loans for more than $89 million. Those 106 loans have leveraged more than $243.6 […]

Published on October 12th, 2016|

Progress Continues on EDC’s Future Home

Work has commenced in earnest on EDC’s and EDC Finance’s future home at 115 East King Street. The move to East King Street is led by The Lancaster Chamber. When complete, the building will improve collaboration and connectivity with members, other businesses and partner organizations. The new space will include a Business Center as well […]

Published on August 19th, 2016|

Conestoga River Plaza Secures $1,550,000 Building PA Loan

EDC Finance and the Commonwealth Financing Authority have approved a $1,550,000 Building PA loan to assist with the development of Conestoga River Plaza, a new gateway multi-tenant retail facility on South Duke Street in the City of Lancaster. The significant project has been led by the Spanish American Civic Association and SACA Development. A groundbreaking […]

Published on August 19th, 2016|