CREDC secured $1,640,000 PIDA Loan for Parath, LLC

The Pennsylvania Industrial Development Authority closed on a $1,640,000 PIDA loan on May 21, 2019 that the Harrisburg Regional Chamber & CREDC secured for Parath, LLC. The $1.64 million, 15-year loan will maintain a 2.5 percent interest rate, which Parath, LLC received in addition to $2,352,809 in equity and bank financing provided by Susquehanna Community Bank. The funding was used to purchase and renovate a 70,000 sq. ft. multi-tenant industrial development facility at 151 Allendale Road, Mechanicsburg, Cumberland County.

SupplySource, an office and social space furnishing solutions organization, is one of the new tenants of the space, using 40,000 sq. ft. of the space to increase its manufacturing, warehousing and delivery capabilities. SuppySource constructs and installs office furniture products and related equipment, such as cubicle walls, meeting space equipment, and other various office furnishes. In addition, SupplySource provides warehousing, remanufacturing and resale of used furniture and equipment, including delivery and installation.

The remaining 30,000 sq. ft. will be used for additional tenants.

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 the economic vitality and livability across our region. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce—a distinction achieved by only 2 percent of chambers across the nation.