Exciting things are happening in economic development in Carbon County!

The Carbon Chamber and Economic Development Corporation is once again granting Small Business Expansion Loans and administering Carbon County Industrial Development Authority loans. These low-interest loans enable our local businesses to expand and grow in order to remain competitive in the marketplace. We do not have to abide by the same rules and regulations that a regular bank does, so if a business owner is turned down by their bank, they can come to us and stand a better chance to be approved for the same type of financing request.The guidelines are simple. Among other requirements, the business must be located in Carbon County and must remain in Carbon County for the duration of the loan, which is normally from 5 to 7 years. Loans are used for purchasing machinery, equipment and related expenses including engineering, repairs and upgrades, purchase of real estate and construction or renovation of real estate. Of course applications are reviewed on an individual basis, so if you have special considerations or needs, we may be able to help.If one of our low-interest loans doesn't fit your needs, we offer other avenues for funding including partnering with the Northeastern Pennsylvania Alliance. NEPA has a portfolio of loan programs that, in many instances, will be able to take care of your business's larger financial needs including SBA 504 loans, ARC Loan Program, or Small Business First Fund Program.The Small Business First Fund Program is aimed at helping fund two of Pennsylvania's largest industries: agriculture and tourism.In another arena, the CCIDA has been re-authorized to be the conduit for bonds including PEDFA bonds. These bonds are issued through DCED and use our local CCIDA to administer the funds for the approved project.Do you have a business idea but don't know where to start? We can help you with that too! CCEDC partners with the Wilkes University Small Business Development Center to provide free consulting services.A representative from the SBDC is available on the first Friday of every month here in our offices in Lehighton to meet with you and help entrepreneurs and business owners with everything from constructing a business plan, to setting up your financials and how to present your idea to lenders. Did I mention that there is no cost for these services?Last year, the SBDC worked with 36 people here in Carbon County and helped them improve their businesses, and in the process save jobs and create new jobs as well.And finally, it's time to get ready for the 2015 Build Your American Dream Challenge! The committee is hard at work planning for this year's program, which will begin in July. We are revamping the format from last year's series and are looking forward to hosting the Guppy Tank at the end of the program.So put on your thinking caps and get creative! Who knows, you may be able to survive the Guppy Tank!If you have any questions or want more information on any of the programs in this article, please contact us. We are here to help.