2011 Archives

CREDC Receives Area Loan Organization Certification Renewal From State

HARRISBURG, PA (August 19, 2011) - The Capital Region Economic Development Corporation (CREDC) announced today that it has received approval from the Pennsylvania Department of Community & Economic Development to renew its certification as an Area Loan Organization (ALO) and an Industrial Development Corporation. 

CREDC met the renewal requirements set forth in the State certification guidelines and has been approved to continue administering the Small Business First (SBF) loan program to eligible businesses located in Cumberland and Dauphin Counties and the Pennsylvania Industrial Development Authority (PIDA) loan program to eligible businesses in Cumberland, Dauphin and Perry Counties.  The certification renewal is effective until June of 2012.

The Department of Community and Economic Development began the ALO certification program in 2009.  That is when CREDC applied and was first certified.  Currently, there are only twenty-eight certified ALOs in the Commonwealth of Pennsylvania.  Renewals are valid for one year.

"Since 2001, CREDC has originated loans or packaged projects totaling over $105 million, leveraging $220 million in private investment which has created/retained over 11,000 jobs," stated Chip Brown, 2011 CREDC Board Chair and President of McClure Company.  "Our organization and staff are very passionate about the mission and the region we call home.  With the recertification from DCED, we will continue to assist as many businesses as we can in Cumberland, Dauphin and Perry Counties."

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 717-213-5038.

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 five stars from the United States Chamber of Commerce.