HawkMtn Labs, Inc. has been serving Eastern Pennsylvania through its environmental testing laboratory services for the past 30 years. When the business was seeking funding for equipment and building improvements, it approached CAN DO to utilize the company's services as an Area Loan Organization and Certified Economic Development Organization.
CAN DO utilized its connections with the Pennsylvania Industrial Development Authority (PIDA) and the Northeastern Pennsylvania Alliance, as well as Luzerne County, to obtain five loans the company will use to improve and expand its operations. Jim Kelshaw, CAN DO's Director of Economic Development and Entrepreneurship, endeavored on behalf of HawkMtn Labs President and CEO Jeffrey Gittleman to obtain nearly $600,000 in loans, in addition to the money CAN DO was able to provide the company.
CAN DO, the economic development organization serving Greater Hazleton and beyond, announced updated interest rate options for Pennsylvania Industrial Development Authority (PIDA) loans for the 2015 second quarter.
PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by certified economic development organizations that partner with PIDA to administer the program.
The new rates will be in effect for loan applications received through June 30, 2015.
Keeping in line with its mission and the strategic goal of attracting and retaining jobs in Greater Hazleton, CAN DO, Inc. recently purchased a 25,000-square-foot building in Humboldt Industrial Park West from a private corporation. The ownership was leasing it to a food processing-related company and decided they wanted to sell the building.
Knowing the tenant wanted to remain in the property for the remaining term of the lease, and with the hope of retaining the company long term, CAN DO stepped in and purchased the facility to ensure the tenant would be able to continue its operations.
Located directly along the I-81 corridor in Northeast Pennsylvania and just minutes from I-80, Greater Hazleton offers an ideal location, just two hours to New York City and Philadelphia and within a day's drive of half the nation's population.