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Cumberland County Economic Development Receives Area Loan Organization Certification

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FOR IMMEDIATE RELEASE

MEDIA CONTACT: Jonathan Bowser
PHONE: 717-240-7181
EMAIL: jonathan@cumberlandbusiness.com

CARLISLE, PA (July 2, 2012) – Cumberland County Economic Development (CCED) has again received the Area Lending Organization (ALO) Certification for 2012-2013. Eight years ago, CCED made an organizational commitment to become a certified Area Loan Organization, and received certification for the first time in 2010. This commitment was an extension of CCED’s pledge to fully serve the residents and businesses of Cumberland County. A certified lender designation grants CCED access to Small Business First (SBF). This program offers low interest financing to businesses and targets a variety of industries including manufacturing and hospitality. By adding our organization as an additional provider of the aforementioned programs, CCED can achieve greater lending capacity and businesses will benefit from a healthier level of competition resulting in improved service, better performance, and more competitive pricing. CCED is already a successful and experienced economic development lender that has achieved over $80 million in affordable business financing and has a total investment portfolio in excess of $190 million. CCED is looking forward to continuing to use these tools to create greater economic development opportunities. “Without a doubt, this is great news for our County and business community. Achieving these designations is critical to the economic development efforts of Cumberland County, and we are currently on track to becoming the strongest organization we can be, said Jonathan Bowser, CCED Director.” Just another way CCED is working hard to serve the needs of our county.

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