Fiscal year 2021-2022 was a record breaker for CCEDC and Seedcopa when it came to financing business dreams in Chester County. From the financing of a Crystal Palace at one of Chester County’s greatest destinations, to the expansion of a local technology company with a national footprint … these business dreams are big.
Longwood Reimagined
The Chester County Industrial Development Authority (CCIDA) and CCEDC are thrilled to finance Longwood Gardens’ most ambitious expansion of its Conservatory and surrounding landscape in a century. Seventeen acres of Longwood’s Conservatory and grounds will be transformed by 2024 using a tax-exempt loan through CCIDA. Longwood is one of thousands of projects the CCIDA and CCEDC have financed over their nearly 50 years of partnership. Learn more about the plan.
Cenero Expands & Stays Local
If you thought Zoom transformed how you conduct meetings, then let us introduce you to Cenero. The Malvern-based company has been providing sophisticated audiovisual, communications and IT solutions for meeting experiences for more than a decade, with high-profile clients across North America including the Wharton School of the University of Pennsylvania.
So when Cenero wanted to improve its own space, it turned to CCEDC lending affiliate Seedcopa to assist with a below-market interest rate to purchase land and construct a 36,000-square-foot office building and warehouse. With Seedcopa’s bank partner, the financing turned out to be our second-largest SBA 504 loan of the fiscal year. Now the local company with a national footprint is performing better than ever at its headquarters here in Chester County, employing 225 people.
The amount of loans processed by CCEDC in fiscal year 2021-2022 has been record breaking, with a loan volume five times higher than just four years ago and 33% higher than the previous fiscal year. Loans included SBA 504 and 7a, Pennsylvania Industrial Development Authority (PIDA) and CCEDC’s internal revolving loan fund.