PIDA approves nearly $ 2 million in loans for infrastructure projects in four counties
The Pennsylvania Industrial Development Authority (PIDA) recently provided nearly $ 2 million in low-interest loans to four projects in Bucks, Montgomery and Westmoreland counties.
Lenape Real Estate Partners, LLC, through Bucks County Economic Development Corp., has been approved for a loan of $ 423,000. The funding will be used to purchase and renovate a 14,705 square foot multi-tenant building in the Township of Upper Southampton.
The building has 8,344 square feet of light manufacturing and warehouse space, 6,361 square feet of office and condominium space. The company plans to modernize the entrance and add new bathrooms on the first and second floors and two large overhead doors to improve access to the building.
Wearforce North America, LLC, through Bucks County Economic Development Corp., received $ 420,000 loan approval for the purchase of 22,485 square foot building in the borough of Quakertown . The new building will allow the company to add offices and warehouses.
Edon Composites, LLC, through Bucks County Economic Development Corp. in Montgomery County, received $ 1 million approval to purchase a 58,810 square foot, 4.7-acre building in Horsham Township. The company leased the building.
K Castings, Inc., through the Economic Growth Connection of Westmoreland in Westmoreland County, received funding of $ 123,424 to replace two 60-year-old smelters.