2010 Archives
CREDC Provides Financing to Harrisburg City Company: Brother and Sister
HARRISBURG, PA (August 18, 2010) - The Harrisburg Regional Chamber and CREDC announced today that it partnered with M&T Bank to provide financing to Brother and Sister Food Service, Inc. The financing package enabled the company to purchase a warehouse location at 2323 Woodlawn Street, Harrisburg City, Dauphin County, PA.
Aziz and Vedad Sahovic own and operate Brother and Sister Food Service, Inc. The company was started in 2001 as a meat processer, making dried meats, sausage, salami, ethnic foods and pâtés. In 2008, Aziz and Vedad expanded the company by including canning and packing wholesale meat products. Brother and Sister Food Service, Inc has seen increased growth in their canning business and have outgrown their former facilities. Through the acquisition of the new warehouse space, the company has been able to consolidate three smaller storage facilities into one space. The expansion is expected to create 4 full time jobs over the course of the next three years.
CREDC provided $190,000 in financing through the Small Business First (SBF) loan program. The SBF loan in conjunction with M&T Bank and equity contributions financed a total project cost of $422,180. The SBF loan program is designed to stimulate the expansion and assist in the retention of small business for the purpose of creating and retaining jobs in Pennsylvania. This important program is administered by the Commonwealth's Department of Community and Economic Development and is funded with the ongoing support of the Administration and the General Assembly.
"Small business is the backbone of the economy and of Pennsylvania's capital city," noted Mayor Linda Thompson. "By helping now, we hope to help make this a bigger business with future employment opportunities for more of our citizens."
"It's always good news when a local small business can benefit from a low interest loan through one of the state programs particularly in this economy," added Ron Buxton, Pennsylvania House of Representatives. "This project is yet another example of state government partnering with the local economic development corporation, in this case HRC/CREDC, to help Brother & Sister Food Services achieve their business goals."
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. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties. For more information on business lending programs, please contact Eric Fischer at 717-213-5042.
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.
