The Harrisburg Regional Chamber & CREDC has closed the Pennsylvania Industrial Development Authority (PIDA) loan for H3C Enterprises, LLC in March based on PIDA’s commitment of funding from an earlier date. The loan closing provided $165,000, supplied by LINKBANK, allowed the borrower to pay off bridge financing and complete the development of a 10,754 sq. ft. warehousing space in New Cumberland, Cumberland County.
C&Z Construction, a commercial and residential restoration business, will be the primary occupant, using the space to store equipment and supplies as it expands into Cumberland and York counties.
“The CREDC Loan Review Committee was delighted to advance a Commonwealth loan request for C&Z Construction,” said Ann Leiner, CREDC’s loan committee chair. “C&Z’s owners exemplify an entrepreneurial spirit. This funding for expanded facilities in New Cumberland will enable continued growth of the company’s operations and workforce in our region.”
H3C Enterprises is a Single Tenant Industrial Development Project and the owner of the space. C&Z Construction, a fire, water, smoke and natural disaster restoration business for residential and commercial properties, will lease the space for two affiliated companies that support its operations: C&Z Construction Services and United Adjustors of America.
C&Z Construction, which was founded in 1983, has 15 full-time employees and expects to add six new employees over the next three years.
Administered through the Pennsylvania Department of Community and Economic Development (DCED), the PIDA program provides low-interest loans and lines of credit to Pennsylvania businesses that commit to creating and retaining full-time jobs in the commonwealth, as well as for development of industrial parks and multi-tenant facilities. Applications are packaged and underwritten by CREDC and other Certified Economic Development Organizations (CEDOs) that partner with PIDA.
CREDC (Capital Region Economic Development Corporation), the non-profit economic development arm of the Chamber, is a Certified Economic Development Organization (CEDO) approved by the DCED to provide and service business financing in Cumberland, Dauphin and Perry counties. CREDC accesses public funding to support regional business growth, provides businesses and start-ups with technical assistance, and connects businesses with resources through its many community partnerships in the areas of education and training, workforce development and business planning. For more information, please email firstname.lastname@example.org or contact Jon Cherry at 717-213-5036.
Total Project Cost: $237,500
PIDA Loan Amount: $165,000
Rate: 2% fixed for 7 years on a 15-year term
Job Creation: 15 full-time jobs retained, 6 jobs to be created
Location: 1515 Kathryn Street, New Cumberland, Cumberland County, PA
Closing Date: March 25, 2021
About Harrisburg Regional Chamber & CREDC
Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties through bold leadership, visionary members and powerful results. The organization provides a unique blend of business, community/economic development and advocacy services under one roof to boost economic vitality and livability across the region. The Chamber & CREDC is five-star accredited by the United States Chamber of Commerce, a distinction achieved by less than 2 percent of chambers across the nation.