RIDGWAY- "Did anyone else have frost this morning?" inquired Chairperson Commissioner Carol Duffy of McKean County as the meeting began on Wednesday morning virtually for the North Central Pennsylvania Regional Planning and Development Commission (North Central). The meeting proved a short one with 4 additional loans approved by the full board unanimously.
Barnhart Davis LLC and Barnhart-Davis Company, the NAPA store in Ridgway Elk County requested a loan in the amount of $65,000 under the USDA Fund. The term of the loan would be for fifteen years at an interest rate of 2.5%. The loan will be used for expansion of Ridgway NAPA store for additional space capacity needed for warehouse storage for parts and retail display. It is estimated that six jobs will be retained, with several being added over the loan term. An additional loan was also approved for $175,000 under the ARC Fund under the same loan terms.
Sidelinger Brothers Tool & Die, Inc., of Kersey in Elk County, requested a loan amount of $40,000 from the EDA Cares Act fund. The term of the loan would be for seven years at an interest rate of 0.75%. The loan will be used to purchase equipment for the manufacturing plant. Three full-time jobs will be retained, with the possibility of new jobs being created over the loan term.
RTB2 Good Food, The Corner Market of Kersey in Elk County requested a loan in the amount of $50,000. The term of the loan would be for five years at an interest rate of 0.75%. The loan will be used for inventory and working capital for the long-existing grocery store. One full-time and 10 part-time positions are expected to be retained over the length of the loan.