The Pennsylvania Industrial Development Authority has approved a $375,000 low-interest loan for Bensalem-based First Look Display Group to support the manufacturer’s business expansion, writes Ed Gruver for the Lehigh Valley Business.

The approval of the loan was announced by Department of Community and Economic Development Secretary Rick Siger earlier this week.

“PIDA loans are one of our key economic development investment tools and are vitally important to companies looking to grow, retool, or retain and hire additional workers,” said Siger.

The 15-year loan was approved at a 3.5 percent reset interest rate. This will help the company purchase and renovate its currently leased operational space in Bensalem. As part of these renovations, the company that designs and manufactures metal racking systems for a variety of uses will fully replace the roof on its space and install three overhead doors and ancillary dock equipment.

The company has committed to retaining eleven current jobs as well as creating three additional full-time jobs within three years.

Read more about First Look Display Group in the Lehigh Valley Business.

_____