New Hollidaysburg Loan Fund Announced

by | Dec 7, 2021 | News

Our First Frontier Mountain Main streets are a robust combination of businesses all working diligently to succeed. The Borough of Hollidaysburg recently announced a new partnership with the Altoona Blair County Development (ABCD) Corporation to assist new development projects through the creation of the Hollidaysburg Loan Fund, a loan program specific to the Borough. The lending program is targeted towards real estate development projects such as land or building acquisition and renovation or new construction including façade improvements. Loan amounts are up to 50 percent of eligible costs with a minimum loan amount of $25,000. Façade only loans can be as low $5,000. All projects must be located within the Borough of Hollidaysburg.

“Borough Council is demonstrating a strong commitment to entice new investment and reinvestment within the Borough,” said Stephen McKnight, ABCD Corporation President and CEO. “Lending programs, especially those helping to support main-street development have a proven track record of encouraging projects to take place. We are grateful for the vision laid out by Borough Council and the Borough Manager in making this partnership happen,” McKnight added.

The Hollidaysburg Loan Fund will be managed by ABCD Corporation with guidance from Borough Council. Interest rates are based on credit scores with terms from 5 to 15 years. For more information contact our First Frontier Financing Team today at 814-944-6113 or email Tom Seasoltz, Renae Lynn or Marcus Edwards.

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