By Peter Becker
Representatives from Northeastern Pennsylvania (NEPA) Alliance reported to the Pike County Commissioners, Dec. 4, of a new economic development tool.
Jeffery Box, CEO, discussed the 504 Business Financing Loan Program being offered through the NEPA Alliance Business Finance Corporation. After examining 10 low-interest business loan programs already available in their seven county region, they looked at what more could be done, Box said.
This Small Business Administration (SBA) program offers up to $5.5 million in financing with market based faxed rate financing. The loan finances 40 percent of the project.
A bank or other lender finances 50 percent of the project cost and takes a first lien position on the assets financed. The SBA 504 loan takes a second lien position. Low down payments and long term maturities, of 10 or 20 years are offered
"We can do deals with most any business, at very attractive rates," Box said. The NEPA Alliance has been promoting the new program to chambers of commerce and business leaders. He said they have met with some potential clients about the SBA 504.
NEPA Alliance is located in Pittson, and serves Pike, Wayne, Monroe, Schuylkill, Carbon, Luzerne and Lackawanna counties. For more information visit online at www.nepa-alliance.org or call (570)655-5581.
• Three groups of Delaware Valley High School 9th graders made presentations for the Commissioners, of proposed ways the county-owned Santos Park could serve the new elementary school and the county.
The students are in the Honors Math & Science Program, and their projects reflect ways to incorporate sound environmental practices in creating a nature park, recreation area or a fairground. The Commissioners then selected their top choice among these top three finalist teams.
The winning team proposed a recreational area called "Ecoadventure." Among the components are a solar field, sports area, playground, hot air balloon rides, recreational access to the Delaware, a food court and gift shop.
Kevin DeVizia is the faculty advisor of the annual competition.
• Steven Vocht was hired as a full time Food Production Supervisor at the Pike County Correctional Facility. This is a replacement position
• The following full-time Correctional Officers were hired: Steven Geiger, Martin Davis, Edward Cowan, Ashley Fernandez, Gaspare Vetrano and Jaymie Pew.
• Jill Hamelburg was promoted to Administrative Secretary at the Pike County Correctional Facility, from a clerk position.
• One bid was received for the purchase of fresh bread and baked goods for the prison, totaling $33,202 from Bimbo Foods Inc. Approval was delayed, pending review.
• Nicholas Dickerson, of the Pike County Office of Community Planning, discussed the 2012 Progress Report of the County's Open Space, Greenways & Recreation Plan, adopted in 2008. He noted that approximately 4,000 acres of natural area has been protected, and approximately another 2,500 acres is under consideration.
The Pike County Commissioners meet on the first and third Wednesday at 9 a.m., at the Administration Building on Broad Street.
NEPA Alliance shares business loan program
Dec 17, 2012 at 5:02 PM Dec 17, 2012 at 5:02 PM