Martelli Realty, LLC was approved for a 10-year, $522,000 loan at a 1.75 percent fixed rate to acquire a 15,128-square-foot industrial building situated on two acres in Ivyland. The building, adjacent to the company’s current facility, will allow for the expansion of The Martelli Companies, a group of related entities, into both facilities. The Martelli Companies are an equipment moving and transportation provider. Doyle Machine Tool, Inc., a Martelli Company, is expected to occupy approximately 75 percent of the space with the remaining 25 percent occupied by other various Martelli Companies due to its proximity to their current facility and the shared resources of the companies. Given this unique relationship between companies, all entities of The Martelli Companies will commit to retaining their current 40 full-time employees over three years.
Ace Designs, Bristol was approved to borrow $50, 000 from BCEDC Business Builder Loan Fund. Ace Designs is a visual merchandising company, a manufacturer of displays for department stores, retail chains, banks, hospitals, nursing homes, etc. Ace has been in business over 30 years and has over 60 employees, working in a 44,000 square foot facility.
Agile Pharma Labs Corporation was approved to borrow $50,000 from BCEDC Diverse Business Loan Fund. Agile manufactures cosmetics, pharmaceutical intermediates, and specialty materials. Agile is in Newtown and has 4 employees in a 5,000 square foot facility. Agile was started in 2017 with the owner having 25 plus years of experience.
