2010 Archives

CREDC Finances Gold's Gym Franchise Location in York County

HARRISBURG, PA (August 10, 2010) - The Harrisburg Regional Chamber & CREDC (HRC/CREDC) announced today that it provided $1,633,000 in financing through the federal SBA 504 loan program to help open a Gold's Gym located at 1665 Broadway Lane, Hanover, York County, PA.  The Chamber & CREDC is a certified lender for state programs and local packager of the SBA 504 program.  

R&R Fitness and R&R Real Estate were both formed in 2007 for the purpose of owning and operating the Gold's Gym franchise and associated commercial property. Both entities are owned by Scott and Pamela Rankin. The SBA 504 loan, along with financing from Mid Penn Bank and equity contributions, enabled the Rankins to build and establish the Hanover Gold's Gym franchise location. The project had a total economic impact of $4,621,460.

"It was a pleasure working with CREDC on this project as it brings a much needed fitness facility to the Hanover area and allows for numerous jobs to be created," stated Scott Micklewright, Senior Vice President, Chief Lending Officer, Mid Penn Bank. "CREDC has become very active in SBA 504 lending over the past several years contributing to its lending portfolio that now exceeds $55 million."

The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties.  The group offers a variety of programs and resources to help attract, retain and expand business in the region. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties.  For more information on business lending programs, please contact Eric Fischer at 213-5038

The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.