Rick Siger, Secretary of the Department of Community and Economic Development, recently announced more than $6.3 million in low-interest loans from the Pennsylvania Industrial Development Authority to boost business growth and create, as well as to help retain, jobs in Bucks, Blair, and Franklin counties.
“These approved PIDA loans are giving companies in three counties the resources they need to reach their goals, maintain and create new jobs, and put tens of millions of dollars back into Pennsylvania’s economy,” said Siger.
In Bucks County, 4th Street Realty LLC and Coleman and Sons Family Limited Partnership were approved, through the Lehigh Valley Economic Investment Corporation, for a fifteen-year, $2,061,000 loan at a 4.25 percent reset interest rate to purchase a light industrial and manufacturing multi-tenant property in Quakertown.
The 169,137-square-foot facility, which includes 150,000 square feet of manufacturing space and 19,000 square feet of office, maintenance, as well as storage space, is located at 45 North 4th Street. It is made up of two parcels totaling approximately 7.592 acres.
Currently, five tenants occupy approximately 68,000 square feet of the building. The entire project will cost $5,811,000, with additional financing being provided through a $2,312,000 loan from Harleysville Bank and $1,438,000 in equity.
Read more about the investments at Pennsylvania Department of Community & Economic Development.
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