2009 Archives
The Harrisburg Regional Chamber & CREDC Provide $1.2 Million in SBA Financing to Help Two Regional Businesses Expand
THE HARRISBURG REGIONAL CHAMBER & CREDC PROVIDE $1.2 MILLION IN SBA 504 FINANCING TO HELP TWO REGIONAL BUSINESSES EXPAND
HARRISBURG, PA (March 30, 2009) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that it provided financing through the SBA 504 direct loan program to help two regional businesses expand. Harrisburg Foot & Ankle Center constructed a new facility including a surgical center at 4033 Linglestown Road in Lower Paxton Township, Dauphin County with additional financing from Commerce Bank. Aa to Zz Childcare and Learning Center purchased its fourth owner occupied location along Schaffner Drive in West Hanover Township, Dauphin County with additional financing from Sovereign Bank.
Harrisburg Foot & Ankle Center is owned by Dr. Allan Grossman, who is board certified in Podiatric Surgery and is a Fellow of the American Board of Podiatric Surgery and the American Professional Wound Care Association. The new and larger facility was needed to provide more space for additional doctors and treatment rooms as well as providing the space needed to do outpatient surgery on-site. Dr. Grossman served his residency at Harvard Medical School, and did an Orthopedic Trauma Fellowship. He currently serves as Medical Director for Holy Spirit Wound Care Center. Annette Grossman, his wife, is a nurse and currently handles day-to-day operations as the business manager. The business employs 8 full time positions at this location.
HRC/CREDC assisted the business in obtaining a Small Business Administration (SBA) 504 loan of $864,000 for the construction project. This loan was part of a financing package that included credit from Commerce Bank and other equity contributions.
Aa to Zz Childcare and Learning Center is owned and operated by Ashleigh and Ryan Zimmerman who started the company in 2004 with 2 children enrolled and 1 location. The couple now operates 5 childcare facilities between Dauphin and Lebanon Counties and provides childcare to over 330 children. Their recent SBA 504 loan completed the permanent financing of their fourth owner occupied location. The business employs 45 full time positions across all locations. HRC/CREDC financed Aa to Zz twice before during their growth spurt and is pleased to have supported this company's success.
HRC/CREDC assisted the business in obtaining a Small Business Administration (SBA) 504 loan of $365,000 for the purchase of the facility. This loan was part of a financingpackage that included credit from Sovereign Bank and other equity contributions.
HRC/CREDC has formed a strategic partnership with the South Eastern Economic Development Company of PA to provide SBA 504 loans to our region. As a result of thisarrangement, HRC/CREDC provides borrowers local representation, as well as a closing attorney that's close to home.
As a result of this arrangement, HRC/CREDC provides borrowers local representation, as well as a closing attorney that's close to home in conjunction with the client's local bank. SBA 504 financing is one of many low interest loan products HRC/CREDC offers to local businesses. Last year, HRC/CREDC loans and other assistance to businesses in Cumberland, Dauphin and Perry Counties topped $70M since 2002.
The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region.
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.
