Burlington County Commissioners Approve Zero Rate HELP Loans for Two Burlington County Businesses
MOUNT HOLLY – Two other Burlington County businesses have been approved to receive interest-free HELP loans to help them recover from the pandemic.
Burlington County Commissioners voted last month to approve two zero-interest loans of $ 50,000 for Del Val Designs, a Mount Holly printing and engraving company, and The Supreme Dessert Shop, a dessert and sandwich shop. of Willingboro.
The loans come from the County Health Emergency Loan Program, also known as AID. The program was established by the commissioners last fall in response to the health crisis and the resulting economic fallout.
So far, seven Burlington County businesses have received interest-free loans under the program, and commissioners want businesses to know there is still money available for additional loans.
“Since the onset of the pandemic, our board of directors has done everything possible to support both our county residents and our small businesses, and we continue to do so,” said Managing Commissioner Felicia Hopson. “Our HELP loans provided vital funding to local businesses that fell through the cracks and were unable to qualify for federal or state aid or because they needed additional funds during this time. hard time.”
Del Val Designs is a small family owned printing and engraving business that has been operating in downtown Mount Holly for 11 years. Their $ 50,000 loan is expected to fund repairs and alterations to the Mill Street company building to comply with COVID-19 restrictions and guidelines and support expanding business opportunities. The loan will also finance the purchase of modernized equipment.
The Supreme Dessert Shop is a new dessert and sandwich place slated to open in the East Ridge Plaza Mall in Willingboro. The opening was delayed due to the pandemic, which both slowed construction on the site but also increased costs.
The restaurant loan will be used to set up a commercial kitchen and acquire other equipment needed for the restaurant, including COVID-19 security measures.
“Del Val Designs is an established business trying to recover and adjust to the ‘new normal’ and the Supreme Dessert Shop is a new business trying to take off,” said Hopson, who is the liaison. economic development commissioners. . “Both have been negatively affected by the pandemic and are looking to our county for help. We are delighted to support them with these HELP loans.
Funding for the loans was guaranteed by the Economic Development Office of the Burlington County Bridge Commission, which also administers the loan program.
“Burlington County is a fantastic place to live and raise a family and also grow a business, and the Bridge Commission is proud to partner with County Commissioners to provide these interest-free loans to small businesses affected by the pandemic,” Matt Riggins said. , Chairman of the Burlington County Bridge Commission. “We saw how these loans can be a lifeline and how they have helped owners retain their employees and purchase the equipment they need to grow their businesses. By making this help available, we are sending a message to business owners in our county that they are not alone in the face of this crisis. “
There is still money left for businesses in need. Up to $ 50,000 in interest-free financing is available for purchases, salaries, and other business-related expenses.
For more information or to apply, visit www.bcbridges.org/covid19-resources/.
(Visited 3 times, 3 visits today)