DCED Holds PIDA Rates for Applications Received Through January 1, 2015

Borrowers will have the following two interest rate options for new loan applications:

A) Fixed interest rate for the full term of the loan (up to a fifteen-year period). The applicable rate for new approvals would be calculated each quarter and set at the ten-year treasury yield +150 basis points. Based on the current ten-year treasury yield, applicants would have the option of a fixed interest rate of 4.0% for the life of the loan.

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FINANCIAL TOOLBOX

SBA Will Continue to Zero Out Fees on Small Dollar Loans, Expands Relief for Larger Loans to Vets

The U.S. Small Business Administration has announced that fee relief on 7(a) loans of $150,000 or less implemented last year and originally slated to expire on Sept. 30, will be extended through fiscal year 2015. SBA has also announced that fee relief measures for SBA Veterans Advantage will also be renewed as well as enhanced. Both the extension of the fee relief for 7(a) loans $150,000 and under, and the extension and enhancement of the fee relief for SBA Veterans Advantage loans will become effective today, October 1st, and will remain in effect through Sept. 30, 2015.

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MEET ONE OF OUR NEWEST MEMBERS

Bill Krause, QS-Resources, LLC

QS Resources LLC began operations in 2009, leveraging over 30 years of experience in managing Quality and Regulatory Affairs Systems at various Medical Device Manufacturing companies in Bucks and Chester counties. QS Resources LLC, and our partners, specialize in assisting small to medium sized manufacturing firms with compliance to national, and international regulations. Our dedicated professionals have extensive knowledge, skills, and experience to assist your organization in developing cost effective, pragmatic solutions to enhance your Quality Management, Regulatory Affairs, or Environmental Management Systems.

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NOTEWORTHY NEWS

Economic Development is “LOCAL”

The economic development process is driven from many different sources from federal and state legislation, and the Governor’s office, and most of all by the business community but the very approval of any project is left to one entity in the Commonwealth of Pennsylvania that is the “approving township” because without that approval there is no project. Yes economic development is just that “LOCAL”.

The “approving municipality” gets its power or rights from: The Pennsylvania Municipalities Planning Code act which was approved on January 1, 1969 and lays out the framework on how the municipal bodies provide for the intent, purpose and scope of this act to protect and promote safety, health and morals; to accomplish coordinated development; to provide for the general welfare by guiding and protecting amenity, convenience, future governmental, economic, practical, and social and cultural facilities, development and growth, as well as the improvement of governmental processes and functions and to promote small business development and foster a business-friendly environment in this Commonwealth; to ensure that municipalities adopt zoning ordinances which are generally consistent with the municipality’s comprehensive plan.

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SPOTLIGHT ON BUSINESS

Follow the Crumbs to American Breadcrumb Company

American Breadcrumb Company, LLC (ABC) one of the largest breadcrumb manufactures in the USA, supplying the industry with over sixty million pounds of breadcrumbs each year will expand their facility and add jobs in Bristol Township.

Who would’ve thought what started out as small family-owned business over 30 years ago only making little ole’ bread crumbs would be such a steady pillar in the Levittown community. The company is still family-owned and still making breadcrumbs and a whole lot more. Their product line includes seasoned and plain breadcrumbs, cracker meal, flour breaders and batters, animal crackers and stuffing.

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