{"id":130318,"date":"2026-03-05T12:51:25","date_gmt":"2026-03-05T12:51:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/130318\/"},"modified":"2026-03-05T12:51:25","modified_gmt":"2026-03-05T12:51:25","slug":"shapiro-administration-issues-over-4-1-million-in-new-pida-loans-for-businesses-in-bucks-erie-and-lancaster-counties","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/130318\/","title":{"rendered":"Shapiro administration issues over $4.1 Million in new PIDA Loans for businesses in Bucks, Erie, and Lancaster counties"},"content":{"rendered":"

Harrisburg, PA\u00a0\u2013\u00a0Today,\u00a0Department of Community and Economic Development (DCED)\u00a0Secretary Rick Siger\u00a0announced the approval of over\u00a0$4.1\u00a0million\u00a0in three\u00a0new, low-interest loans through\u00a0the\u00a0Pennsylvania Industrial Development Authority<\/a>\u00a0(PIDA)\u00a0to help boost business growth and create and retain jobs in Bucks, Erie, and Lancaster counties.\u00a0The projects supported through\u00a0these loans will inject over\u00a0$15.2 million\u00a0into the local economy, create 34 new, full-time jobs, and retain 98 existing jobs.\u00a0<\/p>\n

Governor Josh Shapiro\u00a0is committed to making Pennsylvania an economic development leader by investing in growing businesses, supporting manufacturing and other key industries, and creating real opportunities for Pennsylvanians. Since 2023 under the Shapiro Administration, PIDA has approved $161,400,538 in low-interest loans that have resulted in $412,782,567 in private investment, the creation of 1,349 full-time jobs, and retention of 2,394 existing jobs.<\/p>\n

\u201cThe Shapiro Administration is supporting businesses across Pennsylvania by ensuring they have the resources they need to grow, compete, and succeed,\u201d said\u00a0Secretary Siger.\u00a0\u201cThese new PIDA loans are strategic investments that will help drive business expansions, create good-paying jobs, and strengthen local supply chains in Bucks, Erie, and Lancaster counties. Under Governor Shapiro\u2019s leadership, we\u2019re continuing to build sustained economic momentum that benefits communities and residents across our Commonwealth.\u201d<\/p>\n

PIDA\u00a0provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.\u00a0<\/p>\n

The approved projects are as follows:\u202f\u00a0<\/p>\n

Bucks County\u202f\u00a0<\/p>\n

The Two Little Guys Company,\u00a0through the Bucks County Industrial Development Authority, was approved for a 15-year,\u00a0$1,220,000 loan\u00a0at a 4.25 percent reset interest rate to acquire an industrial facility located at 1324 Adams Road in Bensalem. The acquisition of the industrial facility will allow The Two Little Guys Company to relocate their world headquarters from New Jersey to Bucks County and expand manufacturing operations at the new facility. The total project cost is $3,050,000.<\/p>\n

Erie County\u202f\u00a0
\u00a0<\/p>\n

Erie Cotton Products Inc.,\u00a0through the\u00a0Enterprise Development Center of Erie County, was approved for a 15-year,\u00a0$890,000 loan\u00a0at a 4.25 percent reset interest rate\u00a0to purchase a 40,212-square-foot building located at 1705 Raspberry Street in Erie. This property offers warehouse space, shipping infrastructure such as loading docks, and an office area for the administrative duties that will allow the company to keep up with increased demand for its products. The total project cost is $2,225,000.
\u00a0<\/p>\n

Lancaster County\u202f\u00a0<\/p>\n

Visual Solutions Group, LLC, through the\u00a0EDC Finance Corporation, was approved for a 10-year,\u00a0$2,000,000 loan\u00a0at a 4.25 percent reset interest rate\u00a0to purchase a 72,141-square-foot facility at 1811 Rohrerstown Road in Lancaster. The entities held under Visual Solutions Group, LLC are currently leasing 75 percent of the facility and now wish to purchase the real estate. The main focus of the business is to create custom signs, banners, and graphics to assist clients in increasing business visibility. The total project cost is $10,000,000.<\/p>\n

Since taking office,\u00a0Governor Shapiro and his Administration\u00a0have secured over\u00a0$40.4\u00a0billion\u00a0in private sector investments, creating\u00a0more than 22,400\u200b\u00a0jobs.\u00a0Analysis from Moody\u2019s Analytics Chief Economist Mark Zandi\u00a0confirms<\/a>\u00a0that Pennsylvania remains the only state in the Northeast with a\u00a0growing economy.\u00a0Governor Shapiro\u00a0is committed to making Pennsylvania an economic development leader \u2015 his recently unveiled\u00a02026-27 state budget\u00a0<\/a>continues\u00a0to focus on boosting the Commonwealth\u2019s economic potential and growing the economy.<\/p>\n

For more information about PIDA or the Department of Community and Economic Development, visit the agency\u2019s\u00a0website<\/a>,\u00a0Facebook<\/a>,\u00a0X<\/a>, and\u00a0LinkedIn<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Harrisburg, PA\u00a0\u2013\u00a0Today,\u00a0Department of Community and Economic Development (DCED)\u00a0Secretary Rick Siger\u00a0announced the approval of over\u00a0$4.1\u00a0million\u00a0in three\u00a0new, low-interest loans through\u00a0the\u00a0Pennsylvania…\n","protected":false},"author":2,"featured_media":130319,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[191,194,197,60,60544,26360,25432,4837,17928,61,60545,60546,136,60547,60548,142,138,137,744,2594,33,2002,3717,3685,60549,4480,1881,60550,28,17931,17932,1129,4075,8991,60551,60552],"class_list":{"0":"post-130318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-erie","8":"tag-bensalem","9":"tag-bensalem-township","10":"tag-bucks-county","11":"tag-business","12":"tag-business-loans","13":"tag-businesses","14":"tag-cotton","15":"tag-dced","16":"tag-department-of-community-and-economic-development","17":"tag-economy","18":"tag-edc-finance-corporation","19":"tag-enterprise-development-center-of-erie-county","20":"tag-erie","21":"tag-erie-cotton-products","22":"tag-erie-cotton-products-inc","23":"tag-erie-county","24":"tag-erie-headlines","25":"tag-erie-news","26":"tag-government","27":"tag-jobs","28":"tag-josh-shapiro","29":"tag-lancaster","30":"tag-lancaster-city","31":"tag-lancaster-county","32":"tag-lending","33":"tag-loans","34":"tag-manufacturing","35":"tag-mark-zandi","36":"tag-pennsylvania","37":"tag-pennsylvania-industrial-development-authority","38":"tag-pida","39":"tag-public-policy","40":"tag-rick-siger","41":"tag-shapiro-administration","42":"tag-two-little-guys","43":"tag-visual-solutions-group"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/130318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=130318"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/130318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/130319"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=130318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=130318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=130318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}