We couldn’t have asked for a better holiday gift. Four loans have funded, spanning four counties. And we think you’ll be impressed by the breadth of industries as well as the loan amounts and lenders. Let’s dive in!
Vinyl Record Manufacturer
Coatesville, Chester County, PA
Total Project Amount: $2,980,000
SBA 504 Loan Amount: $1,057,000
Used to: Purchase building to expand & relocate facility
Lending Partner: The Victory Bank
A vinyl record manufacturer sought to purchase a property in Coatesville, PA after forming their company in July 2020 and residing in Nottingham, PA. The company is now occupying 100% of the 15,200 square-foot building, which serves as its main headquarters. The acquisition of additional pressing equipment is expected to absorb the current high demand of products, and will increase capacity and efficiencies. While only formed a couple of years ago, the individual guarantors have spent their entire careers in the music industry and are known for their high-quality manufacturing process.
Storage Facility
Hamburg, Berks County, PA
Total Project Amount: $1,605,000
SBA 504 Loan Amount: $567,000
Used to: Expand existing facility
Lending Partner: The Victory Bank
A couple who bought out business partners three years after formation are now the sole owners and operators of a storage facility in Hamburg, Berks County, PA. Their project property currently houses 42 climate-controlled units and one larger basement unit across two buildings. An additional four buildings consisting of over 120 drive-up units were constructed as part of the expansion, making the facility over 30,000 sq ft.
Digital Marketing Services
Montgomeryville, Montgomery County, PA
Total Project Amount: $1,444,000
SBA 504 Loan Amount: $597,000
Used to: Purchase commercial property
Lending Partner: LINKBANK
A premier digital marketing services business is now the proud owner of a property located in Montgomeryville, PA. The company formed in 2017 with additional ownership joining it in 2018. The owners sought to purchase the 8,350 square-foot building, which is now 100% occupied by the company, so they could have a single location as 14+ staff moved from remote to in-office and hybrid work.
Events Company and Studio
Bethlehem, Lehigh County, PA
Total Project Amount: $724,306
SBA 504 Loan Amount: $301,000
Used to: Purchase building/renovate commercial property
Lending Partner: M&T Bank
This business provides multiple services, including photo studio, furniture rental/staging, and gathering/event space. The company previously rented the space and are now the proud owners of the Bethlehem, PA property. The business occupies over 51% of the 7,625 square-foot building, which allows the company to continue to grow organically.
