BCEDC BUSINESS HAPPENINGS

Sherwood Steel Inc. received PIDA approval to borrow $340,000 to purchase a 61,330 square foot building in Bensalem. Established in 1997 Sherwood Steel is a family owned and operated business that sells galvanized sheet metal and accessories. The new building purchase will allow for larger project because inventory will be readily available. Two new employees will be hired as a result of the loaned funds.

PIDA approval was granted for Finish Tech Corp. to borrow $400,000. The funds will be used to purchase a 19,980 square foot building in Ivyland. The larger building will give the company the ability to increase manufacturing and warehouse space. Finish Tech was founded in 1990 and is privately owned USA manufacturer and supplier of overlay films and laminates for the finishing of wood, plastics and metal products. The company will retain forty employees with the new building purchase.

Mountain Laurel Spirits (MLS) was approved to borrow $110,000 from BCEDC’s BBLF. The loan will be used to purchased new equipment at their current Bristol location. The new equipment will be used to keep up with increased demand. MLS produces Dad’s Hat® Pennsylvania Rye Whiskey and White Rye which are handcrafted using locally-sourced ingredients and traditional methods.

Municipality Loan Program Amount Borrowed SQ FT Reason for Loan Jobs Retained Jobs Created
Bristol BBLF $110,000 N/A Equipment N/A N/A
Bensalem PIDA $340,000 61,330 Building Acquisition
& Renovations
40 0
Ivyland PIDA $400,000 19,980 Building Acquisition 9 2
TOTAL   $850,000 81,310   49 2