EDC Lancaster County Updates | May 2018 - Click here if you are having trouble viewing this message.
Business Retention & Expansion Update
EDC is happy to announce three recent Business Retention & Expansion (BRE) success stories that support Lancaster County manufacturing firms.  

Superior Tech / VS Networks - Brownstown based Superior Tech, manufacturer of lawn & garden equipment for John Deere, and sister company, VS Networks, producer of digital touch screen displays for use in showrooms, has purchased the vacant commercial property at 1811 Rohrerstown Road.  The companies will be converting the property for their local production and research needs before moving in later this year.  EDC Finance assisted the project with a $1.6 million Pennsylvania Industrial Development Authority (PIDA) loan for a portion of the purchase cost.

Flex-Cell Precision - A CNC milling specialist focusing on military, commercial electronics and medical devices is expanding their Lancaster City operation with a $1.46 million advanced machinery upgrade.  EDC Finance assisted in securing a $584,000 PIDA equipment loan to help purchase and install the new equipment. 

Weaver IndustriesLocated in Denver Borough, this advanced graphite-machining manufacturer is improving their equipment used for graphite and urethane products.  They received a $400,000 PIDA equipment loan, garnered by EDC Finance, to buy and install $950,000 of advanced equipment. 
 
Next Generation Farmer Loan Approvals
Next Generation Farmer Loans (NGFL) are tax-exempt bank notes approved through EDC Finance in conjunction with the Penn Industrial Development Authority (Penn IDA) to support farmers making their first capital investments in production agriculture.  The following projects recently received NGFL financing approval in conjunction with their local bank.
 
  • Levi & Barbara Stoltzfus, Conestoga - Dairy Farm, $320,000 loan
  • Christian B. & Sara B. Riehl, Peach Bottom - Crop Farm, $380,000 loan
  • Brian L. Nolt, Manheim - Crop Farm, $524,000 loan
  • John R. King, Lancaster - Dairy Farm, $524,000 loan

To learn more about Next Generation Farmer Loans, visit our website.
 

25 Year SBA 504 Loans
SBA 504 loans now have a 25-year fixed rate option to complement the existing 10 and 20-year loans. For more details, click here.
Fox Meadows Creamery & Country Store Celebrates 3 Year Anniversary
The "cow to cone" creamery in Ephrata opened its doors in 2015 and has since become a premier Lancaster County destination to indulge in an ice cream treat.  Grocery items are available at their country store and you can enjoy lunch while viewing their creamery and farm operations.  Fox Meadows is a family operated business and EDC Finance was able to provide them with financing for their original lending package.  Congratulations to Fox Meadows Creamery & Country Store on 3 successful years!
 
Save the Date
2018 EDC Annual Meeting
November 13th, 2018
7:30 to 9:00 AM
Heritage Ballroom, Lancaster Marriott at Penn Square
Annual Meeting Sponsored by
McNees Wallace & Nurick LLC
EDC Finance Update
Lending Rates
PIDA: 2.75%
SBA 504 20yr: 5.22%
SBA 504 25yr: 5.72%


Remaining Annual Availability
SBA 504 Refi: $6,600,000