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CCED Welcomes Small Business First (SBF) Program

Cumberland County Economic Development Welcomes Small Business First

Low-interest financing program now available to Cumberland County businesses

 

Carlisle, PA – Mission accomplished.  Last week, Cumberland County Economic Development (CCED) completed its certification process with the PA Department of Community and Economic Development (DCED) and is now an Area Loan Organization serving Cumberland County.  CCED would like to again thank the scores of businesses, legislators, local government partners, chambers of commerce, and regional economic development service providers for their support.

Small Business First is considered by many as the best small business lending program available at DCED.  This program offers primarily subordinate financing and works best in partnership with traditional lending institutions.  “Small Business First is the newest financing tool available at CCED.  We have programs available to serve almost any type of business and for almost any type of need.  Just check us out,” said Omar Shute, Executive Director at CCED.  He added; “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.”

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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