Six businesses receive low-interest loans through Pennsylvania Industrial Development Authority

The Pennsylvania Industrial Development Authority recently approved low-interest loans to six businesses in five counties.

The authority offers lines of credit and low-interest loans to Pennsylvania businesses that are committed to creating and retaining full-time jobs.

“Pennsylvania has a strong, diverse network of businesses in critical sectors that drive our economy, like agri-processing and manufacturing, and the companies we’re investing in today represent the future of business in the commonwealth,” Gov. Tom Wolf said. “As we continue to make targeted, strategic investments in growing businesses, we are helping to ensure that our state’s workers, job creators, and local economies thrive.”

Plum Creek Farm in Berks County will receive a $1 million, 15-year loan with a 2 percent reset rate that will be used to construct of a 12,000-square-foot building for the production of ice cream, smoked meats, and other prepared foods.

Advanced Powder Products in Centre County was approved for a $1.9 million, 15-year loan with a 2 percent reset rate that will be used to build a new 27,000-square-foot manufacturing facility.

Good Crop in Chester County will receive an $800,000, 10-year loan with a 3 percent rate that will be used to purchase machinery and equipment for the production and packaging of fruit juices.

A Greener Tomorrow in Chester County was approved for a $400,000, 10-year loan with a 2 percent reset rate that will be used to purchase two warehouses and conduct environmental remediation at the project site.

Good Burrito Co. in Lancaster County will receive a $200,000, 15-year loan with a 2 percent reset rate that will be used to purchase restaurant space it is currently leasing.

Product Evaluation Systems in Westmoreland County was approved for a $1.05 million, 15-year real estate loan with a 2 percent reset rate that will be used to construct a 12,150-square-foot pre-engineered steel building.