Solobay, Snyder praise state loan to Carmichaels business
State Sen. Tim Solobay and state Rep. Pam Snyder recently praised the announcement of a $200,000 loan to help a Greene County business expand.
“Greene County has seen historic economic growth recently, and it’s critical to keep the momentum going,” Solobay said. “Helping small businesses grow and create jobs is vital to sustaining long-term success.
Pennsylvania’s Department of Community and Economic Development awarded the Small Business First (SBF) loan to Universal Belting Resource, LLC, a manufacturer and distributor of conveyor belting, to expand its Carmichaels facility.
“Businesses such as Universal Belting are the backbone of economic progress and job creation,” Snyder said. “The financing represents a prudent investment that will seed further opportunities in the area.”
Universal Belting will build 7,500 square feet of additional office and production space, creating better production processes.
The expansion will include a total investment of $591,443 and is expected to retain 26 existing full-time employees and create three new, full-time jobs within three years.
The Small Business Loan Program provides low-interest loan financing for land and building acquisition and construction, machinery and equipment purchases and for working capital.
For more information about the SBF program and other community development initiatives, visit www.newPA.com or call 1-866-466-3972.