SEDA-COG provided Kightlinger Motors, Inc. with a $580,000 SBA 504 loan to purchase a 30,560 square foot retail showroom and garage on approximately 8.78 acres of land located in Coudersport, Potter County. This loan enabled them to purchase the property that presently houses their retail auto sales and maintenance repair business. Kightlinger Motors, started by…
SEDA-COG provided H. R. Weaver Family Realty, L.P. and On the Ice, Inc., with a $490,000 SBA 504 loan to assist in expanding their existing public ice skating rink located in South Londonderry Township, Lebanon County, PA. Members 1st Credit Union partnered with them on the project. On the Ice, Inc. (dba) Klick Lewis Arena,…
SEDA-COG provided Complete Automotive Repair & Service, LLC, with a $251,200 SBA 504 loan to purchase commercial real estate located at 470 Allegheny Drive, York Township to relocate their existing business located in York, York County, PA. This loan enabled them to expand their business with a larger building and additional bays. As a result,…
SEDA-COG assisted Lavern and Jewel Peachey with an SBA 504 loan for their business Coffee Run Heat Treating, LLC. Additional financing was provided by MCS Bank of Lewistown. The funds enabled the borrowers to construct a 26,625 square foot manufacturing facility on their existing property to house their pallet treating business. Wooden pallets are heat…
SEDA-COG assisted Home D Pizzeria with a $688,000 SBA 504 loan which was used to expand and renovate the 1820 S. Atherton St., State College, PA location. This project added and additional 1200 sq. ft. to the building which significantly increased seating capacity with a new dining room and bar. Behind that is a beautiful…
One year into owning the Bull Run Tap House, Braden Klinger is thrilled with how business is growing. Sales have increased by almost 30 percent. They’ve grown from 23 employees to almost 40. And, they’re working to expand their menu. While burgers and sandwiches are their current best features, they’re looking to add more salads,…
10X Fitness, LLC, located in Mountain Top, Luzerne County, PA, was conceived in 2016, as Dan and Danny Cronauer, father and son, who have historically been entrepreneurs in their own right, had perceived a need for a fitness facility that had flexible hours and was also relatively affordable for the community. The Mountain Top area…
SEDA-COG assisted Happy Holiday, LLC with a $2,550,000 SBA 504 loan and a $250,000 SEDA-COG TEAM loan for the construction of their 4-story, 83-room Holiday Inn Express & Suites hotel located at 30 Happy Valley Drive, Reedsville, Mifflin County, PA. The hotel is situated just off Route 322 between State College and Lewistown. Ajit Smith…
Nigam Bhavsar formed Dattam Hospitality, LLC for the purpose of owning and operating a family-owned motel located at 3202 West 26th Street in Erie, PA. SEDA-COG Local Development Corporation assisted Dattam Hospitality, LLC with a $281,700 SBA 504 loan and a $60,000 SEDA-COG TEAM loan for the acquisition of land, building, and FF&E of the…
For the first time in nearly a year, the SBA 504 20-year and 25-year rates edged slightly higher over the previous month. The previous declines resulted in record low rates for the program. While September’s rate might indicate a bottoming out of rates, the spread between Prime and the 504 is still significant, so there’s…
