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CCED Announces Small Business First (SBF) Pricing

Cumberland County businesses to benefit from lower costs to borrow funds

Carlisle, PA – Continuing with its commitment to the Cumberland County business community, Cumberland County Economic Development (CCED) is announcing the lowest prices in the region to borrow funds through the Small Business First Program.  This will save Cumberland County businesses hundreds of Dollars compared to traditional options.  “Nobody in the region can do a Small Business First loan for less,” said Omar Shute, CCED Executive Director.  He added, “our low prices and exceptional service will provide a very hard to beat combination and will ensure first class service to Cumberland County businesses.”

 

The following pricing related to Small Business First is being announced by CCED:

 

Application Fee: $250
Closing Fee: 1% of amount borrowed
Document Preparation Fee: $650

 

Again, nobody in the region can provide Small Business First loans for less cost.  For Cumberland County businesses, this means that on a $200,000 loan, CCED can save a business as much as $1,500 in fees.  Without a doubt, this is a win for the Cumberland County business community and shows CCED’s commitment to business in Cumberland County.

“CCED is a lean organization with diversified funding.  In addition, CCED has a wide variety of loan programs and services.  That has allowed us to build economies of scale and develop great pricing structures for Cumberland County businesses.  We are transferring those savings to our clients,” said Shute.  He added; “we are making capital available and helping ease the credit crunch that is affecting many.  In the past, it was common to see lending institutions financing up to 90% of the cost of a project.  This practice is now very unusual and lending institutions have been requiring borrowers to inject more cash into a deal to reduce their level of exposure.  With a program such as Small Business First, CCED can partner with a lending institution and offer subordinate financing.  Our involvement diversifies the risk and saves the borrower precious cash.  Hence, everybody wins.”

 

Small Business First provides low-interest financing for land and building acquisition and construction, machinery and equipment purchases, and working capital.  Through Small Business First, CCED can provide loans for up to $200,000 and depending on the transaction rates can be fixed for as many as 15 years.  To check for eligibility and for further information regarding Small Business First, contact Don Coffee at 717.240.7181 or via e-mail at don@cumberlandbusiness.com.

 

The mission of CCED is to be a catalyst for job creation; entrepreneurship; business attraction, retention, and expansion on behalf of the citizens of Cumberland County and South Central Pennsylvania.

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