EDC Finance Corporation News | EDC Finance Corporation

LNP – State loan helps kick off $20M redevelopment on Lancaster city’s east side

Article featured on LancasterOnline.

With the help of a state loan approved Wednesday, a $20 million redevelopment project on Lancaster city’s east side soon will begin. The far-reaching mixed-use project is dubbed Tobacco Avenue, after the obscure alley that forms its western boundary. As was announced last year, the venture will revitalize a drab property that’s also bounded […]

Published on May 4th, 2018|

NADCO Releases Details on 25 Year SBA 504 Loans

In response to NADCO TI Memo 21-18 making 25-year term loans available in the SBA 504 loan program it will be helpful to understand how we expect those debentures to be priced so that small business borrowers can be better equipped to decide what term loan is best for them.

There are several variables that determine […]

Published on April 23rd, 2018|

LNP – Brothers to buy vacant Maximatecc plant near East Pete for $3.5M

Article featured on LancasterOnline.

An East Hempfield Township manufacturing plant, vacant for three years, is getting new life under a new owner.

The former Maximatecc plant, 1811 Rohrerstown Road, near East Petersburg, is being sold to two brothers who own a pair of small but growing Brownstown companies.

John and Dan Weinlader, who own Superior Tech and VS […]

Published on April 12th, 2018|

LNP – County poultry production on the rise

Article featured on LancasterOnline.

Dan and Lori Martin raise 600 head of beef cattle on their West Cocalico Township farm. They are also partners in two dairy farms of 110 cows each.

“The dairy operation has been a little tight,” Dan Martin says.

Four years ago, in an effort to diversify, the Martins expanded their farming operation once […]

Published on April 2nd, 2018|

Loan Approvals Replete with Repeat Borrowers

Four repeat EDC Finance borrowers were approved for Pennsylvania Industrial Development Authority – Agriculture loans.

Josiah & Chelsea Rohrer, Manheim – Hog & Pig Farm, $400,000 loan
Brubraker Farms, Manheim – Poultry Farm, $362,500 loan
Shelmar Farms, Mount Joy – Hog & Pig Farm, $400,000 loan
Andrew & Andrea Bollinger, Lititz – Dairy Farm, $400,000 […]

Published on March 16th, 2018|

Spooky Nook Expanding Amenities

The Pennsylvania Industrial Development Authority (PIDA) recently approved a $355,000 loan to Spooky Nook Sports, facilitated through EDC Finance Corporation. The long-term low-interest loan will support the installation of a new commercial kitchen, an event stage, sound system, and lighting display, along with fit out of a pre-event area. This investment enhances Spooky Nook Sports’ […]

Published on March 16th, 2018|

LF – Poultry’s Place in SBA Loan Program Questioned

Article featured on Lancaster Farming.

Are poultry farms small businesses?

The federal Small Business Administration has been saying yes, but now its internal oversight office is saying maybe not.

The answer could determine whether chicken farmers qualify in the future for a program that guaranteed $1.8 billion in poultry loans between 2012 and 2016.

In a March 6 report, […]

Published on March 16th, 2018|

PIDA Loan Approved for Oak Tree Development Project

Published on February 9th, 2018|

River Rock Opens in City of Lancaster

Published on December 15th, 2017|

Production Ag Projects Receive PIDA Approval

Published on November 17th, 2017|

EDC Finance Goes to the Birds

EDC Finance approved financing in August for Scott & Linda Wagner to construct and equip two 63’ x 700’ turkey barns on their Quarryville area farm. The Wagners were approved for a $400,000 Pennsylvania Industrial Development Authority (PIDA) loan that comes with a fixed interest rate that will provide a locked loan payment for the […]

Published on November 17th, 2017|

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|