2012 Releases

Crossroads Restaurant Financing Secured Through Harrisburg Regional Chamber & CREDC

HARRISBURG, PA (January 18, 2012) - The Harrisburg Regional Chamber & CREDC (Capital Region Economic Development Corporation) announced today that it has helped secure financing totaling more than $1 million for an economic development project in Reading. Through the financing, AGP 61, LLC has assumed ownership of the Crossroads Family Restaurant on Pottsville Pike in Muhlenberg Township.

The Harrisburg Regional Chamber & CREDC, a certified lender for state programs and local packager for the Small Business Administration (SBA) 504 program, acted as facilitator to secure a SBA 504 Loan, along with financing from Metro Bank and owner's equity for the project. The economic impact of the project is estimated at $2.5 million with the retention of 30 full-time jobs.

"SBA 504 is a great program that allows business owners to benefit from a low 20-year fixed rate and a minimum equity requirement that is less than traditional financing packages," Metro Bank Vice President and Regional Manager Zachary Khuri said. "We were pleased to collaborate with the Chamber on this project and look forward to the positive economic impact it will have on the local community."

Crossroads Family Restaurant, a diner-style restaurant with liquor and banquet capabilities, will now operate under the management of Aristides and Angela Asimakopoulos.

The Asimakopoulos family brings more than 30 years of restaurant experience to Crossroads. The family has owned and successfully managed the nearby Temple Family Restaurant for the past 23 years.

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. For more information on business lending programs, please contact Eric Fischer at 717-213-5038

About The Harrisburg Regional Chamber & CREDC 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 five stars from the United States Chamber of Commerce.