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 million of economic development project costs and provided subordinate financing to more than $116 million of senior bank financing in our community. Lancaster County projects account for 75% of those SBA 504 loans, with the remaining 25% coming primarily from Lancaster County companies investing in other communities and projects generated by EDC Finance’s SBA 504 economic lending partners: Cumberland Area Economic Development Corporation, York County Economic Alliance, and Adams County Economic Development Corporation. To learn more about SBA 504 lending, visit the EDC Finance website here.
Triode Completes Project, Achieves Qualification
Triode Media Group has completed their building purchase and renovation in Lancaster City, utilizing a $400,000 PIDA Small Business loan through EDC Finance. Triode was also recently approved by the Department of Community and Economic Development as a Pennsylvania Qualified Production Facility. The designation allows film production companies to apply for additional tax credit on features filmed in Triode’s facilities.
Visit Triode’s website for more information.