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SEC Charges Municipal Bond Issuer and Underwriter with Defrauding Investors

For the first time, the Securities and Exchange Commission has charged a municipal bond issuer with securities fraud for falsely claiming that it was compliant with annual disclosure obligations. An underwriting firm along with a supervisor also were charged for failing to research the accuracy of the bond issuer’s claim. In a report accompanying the release of the charges, the SEC cautioned other municipal bond issuers and underwriters that it will be vigilant in making sure that municipal issuers and underwriters comply with disclosure obligations.

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BCEDC Members Rankings for SBA Loan Volume

October 1, 2012 - June 30, 2013

Source: SBA Philadelphia District Loan Volume Report Fiscal Year 2013 To Date (10/01/2012 thru 07/30/2013)

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TruBeauty Concepts hosted the BCEDC General Board of Director meeting

TruBeauty Concepts hosted the BCEDC General Board of Directors meeting on July 29, 2013. The meeting was held at HOPE, Home of Professional Education, located at 109 Street Road, Southampton, PA. 

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From the Desk of the BCITC

Save the Date!

Bucks County International Trade Council is holding their annual wine and cheese networking event again at The DelVal Market, at Delaware Valley College on Thursday October 17, 2013 from 4:30 – 6:30PM. To RSVP for this event, please email or call 215-675-8426 and leave a message.

Spotlight on Bucks

Rebirth of American Manufacturing is Key to Success at Huys Electrodes Inc. of Telford, Pennsylvania

"We are already exporting to China and Thailand," says Barry Clymer, General Manager of Huys Electrodes Inc., "And we hope to double sales again with our new cold header we just bought. We are very appreciative of how the Bucks County Economic Development Corporation helped us to get started in 2011 with one loan, and how they once again supported us with financing for the purchase of our latest and third cold-header in August 2013.  We couldn’t have done it without their help."”  

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The Bottom Line

A Regular Feature to Help Your Business Improve Its Profitability

The Bottom Line: Increase Your Profits By Reducing Your Debt Service

There has never been a better time to refinance your commercial debt than right now. Without laying off one employee, or cutting one supplier or vendor, businesses can potentially improve their cash flow by refinancing their debt. Those savings could be significant.

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Strategic Early Warning System (SEWN)

The Sweet Smell of Success

Sometimes the old saying, "Do what you love and the money will follow" gets tested severely. For Lloyd and Candy Traven, owners of Peace Tree Farm near Ottsville, the added stresses of increased costs and negative cash flow were an unwelcome interruption.

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New Financing Approved

Huys Electrodes, Inc. was approved to borrow $165,000 from Small Business First Fund. Huys will use the funds to purchase equipment to increase their production to take on larger contracts. With the purchase of additional equipment they will hire six new employees and retain fifteen. The total project cost is $480,000. Huys manufacturing facility is
located in Telford. 

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Companies on the Move

Roddy, Inc. Represents Spirit Delivery & Distribution Services, Inc. in 121,840 Sq. Ft. Transaction in Bristol Industrial Park

Frank Roddy, President of Roddy Inc., represented Spirit Delivery & Distribution Services, Inc. in leasing 121,840 sq. ft. of the 300,000 sq. ft. facility situated at 42 Runway Road, Bristol Industrial Park, Levittown, Bucks County, PA. The building offers Spirit 28’ clear height ceilings, ESFR sprinkler system, extensive tailgate loading and approx. 3,000 sq. ft. of office space, which will be built to Spirit’s specifications.

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Financial Toolbox

PIDA Borrowers Have Two Options

A) Fixed at 4.00% for 15 years

B) Fixed at 2.50% for 7 years, rate reset based on 10 year treasury yield, capped at 4.50%

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Member's Corner

Celebrating 30 Years! July 28, 2013

We are proud to announce our 30th Anniversary. We thank all of our customers and vendors for your years of support and dedication. We look forward to working with everyone for many more years to come.

—Michael J. Mabin, Sr., Michael J. Mabin, Jr. and the entire PennFab family

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