SPOTLIGHT ON BUCKS | AFFINITY LAND SERVICES

First Loan Closed Using the Diverse Business Financing Initiative (DBFI)

Affinity Land Services, LLC is a full-service title insurance agency providing title services throughout Pennsylvania, New Jersey and Virginia. Affinity comes to you with a title staff full of extensive backgrounds in real estate, mortgage, and title. 

Affinity has a motto of thinking outside the box. Promise small and deliver big. When you are purchasing or refinancing a home, title insurance is something that is a must-have. The protection a policy provides to the lender and the owner can sometimes be invaluable. A title policy protects a buyer and lender from previous liens, mortgages, and other issues. A title search is completed, and any issues found will be cleared up prior to closing to be able to provide free and clear title to the new buyer.

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NOTEWORTHY NEWS | DIVERSE BUSINESS FUNDING INITIATIVES

Third Party Certifications No Longer Needed to Apply for the DBFI Loan Program

Several lenders had expressed their concerns to DCED that requiring third party certifications presents an undue burden and expense to the diverse business owners targeted by the initiative, to the point that they are having difficulties making loans using the funds. Consequently, the PA Department of Community and Economic Development (DCED) has decided to eliminate the need for third party certifications. Applicants still need to fall under the guidelines.

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NOTEWORTHY NEWS | PPL

Transmission – The Backbone of the Grid

It’s a beautiful day – sun is shining, blue skies. Your family just arrived at your beach rental, ready to start your week-long vacation. And then, the power goes out. Five minutes pass…then five hours…then two days. There is no air conditioning, no refrigeration and the town has limited power. Angry, upset, frustrated, you turn your car around and head home. Your vacation is over before it began.

Power is something we take for granted, especially on beautiful summer days. But about two years ago, the above scenario was a reality. The Outer Banks, North Carolina experienced more than a week-long outage when a transmission line was accidentally hit during bridge construction work. Thousands of vacations were ruined and millions in small business revenue was lost.

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BCEDC BUSINESS HAPPENINGS

Remodeling Concepts, Inc. was approved to borrow $400,000 from PIDA, a total project cost of $1,100,000.  The funds will be used to purchase a building in Langhorne, Middletown Township and renovate it. It is 12,075 square foot that will employee 21 current employees with room for future hiring. Remodeling concepts, Inc. is a local contractor that services both residential and commercial property owners doing any sort of construction services from the ground up. 

To learn more www.remodelingconcepts.net.

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THE BOTTOM LINE | WHAT IS A CONTRACT?

What is a Contract: Part 3: Conditions - When Is a Promise No Longer a Promise?

This post continues my series explaining the main elements of a contract, which are outlined on the attached infographic. My goal is to demystify some of these basic provisions to help business owners have a better general understanding of what they are signing.

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THE BOTTOM LINE | HOME REPAIR PROGRAM

PA Tax Credits for Businesses Helping Lower-Income Homeowners with Home Repairs

We need your help to make it happen, and your business can benefit, too. Through our Home Repair Program, Habitat Bucks partners with lower-income homeowners to make home repairs or modifications that preserve their home, making it safe and adapting it to be accessible for everyone. We provide both interior and exterior repairs, as well as critical repairs such as roof replacement and major system repairs like plumbing and HVAC. Interior projects include: grab bars, electrical work, bathroom modifications, kitchen repair, railings, door repairs, flooring and lighting. Exterior repairs include railings, windows, steps, doors and porches, roof patching, gutters, walkways, and ramps. Many of our homeowners are seniors or disabled individuals who cannot afford the market cost of repairs or modifications. With Habitat Bucks, these are easy repairs and the homeowner repays an affordable amount – just a fraction of the cost. The balance is subsidized by program income and contributions. 

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FINANCIAL TOOLBOX

PIDA & SBA 504 rates announced for the Third Quarter of 2019

PIDA announced that its two interest rates for the third quarter of 2019 (July 2019 to September 2019) will feature a fixed rate of 3.00% or the option to have a variable rate of 2.00% (half the term of the loan). The term for a PIDA loan is up to fifteen years for real estate, up to ten years for machinery and equipment, and one year for working capital (but can be renewed annually up to a maximum of six years). The maximum loan amounts are $2 million for real estate, $400,000 for machinery and equipment (or 50% of the total project cost, whichever is less), and $100,000 for working capital. Eligible applicants can borrow $35,000 for every full-time job retained and/or $50,000 for every full-time job created within three years of closing of the loan. Applications can be submitted through the assistance of BCEDC, Commonwealth of PA, certified economic organization, (EDO)

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COMPANIES ON THE MOVE | COLLIERS

Colliers Q2 Regional Research for Industrial and Office Markets is Now Available

Colliers International released their Q2 Regional Reports for the Greater Philadelphia region covering the Industrial and Office sectors preview. Here’s what we’re seeing as we hit the halfway mark of 2019:

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COMPANIES ON THE MOVE | NAPPEN & ASSOC.

Celebrating 50 Years!

Nappen & Associates announces its latest new development of a 125,000 square foot industrial/flex building. The building, now under construction, is on Milford Square Pike, Milford Township, Quakertown, Pennsylvania. The facility offers LED lighting, ESFR (early suppression fast response) sprinkler system, 16 tailgate doors with levelers, 4 drive-in doors, and 33’ clear height. This state-of-the-art facility will be minutes from the Pennsylvania Turnpike (Quakertown Interchange) & Route 309. 

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MEMBERS’ CORNER

  • BCEDC Board of Director Throws Out the First Pitch
  • Bob Cormack, BCEDC Executive Director Attended Centric Bank’s Ribbon Cutting Ceremony 
  • TMA Bucks Welcomes a New Project Coordinator, Ashley Sulon to the Team
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