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August 25th, 2014

CREDC Receives ALO Re-certification from the Commonwealth of Pennsylvania

HARRISBURG, PA  – 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 2015.

The Department of Community and Economic Development began the certification program in 2009.  That is when CREDC applied and was first certified.  It is anticipated that a total of 25 Area Loan Organizations and 47 Industrial Development Corporations will be certified by the Commonwealth.  Renewals are valid for one year. CREDC has packaged over $125 million in loans and grants for local businesses and projects since 2001, helping local businesses retain and create over 12,500 jobs.

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.


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