Tuesday, November 16, 2010

CACLV's Rising Lends Another $200,000, Helping Eight Small Businesses

In case you missed it, I'm a big fan of CACLV's Rising Tide Community Loan Fund. It's a federally-certified community development financial institution, created to help entrepreneurs in communities where resources and opportunities for growth are limited. So far, 84 microloans totaling over $1,654,000 have been made. They've led to the creation of at least 132 jobs, and helped keep 109 others. Only 5 loans, totaling $48,000, have been written off as uncollectable.

Since my last report, it's made eight new loans totaling $207,000. In a recession, that money helped create 8 jobs and retain 17 others at small businesses throughout the Lehigh Valley. Here are the lucky winners.

Amber Connection, a fine jewelry and clothing store located in South Whitehall Township, borrowed $5,000, retaining one job.
Priority Dog, LLC, a New Tripoli luxury boarding facility for dogs, borrowed $35,000, creating 2 jobs.
On the Spot Dry Cleaners, Inc., a dry cleaning service in Pen Argyl, borrowed $29,000, creating two jobs and retaining five others.
Biagio Pizza, a restaurant in Palmer Township, borrowed $35,000, creating two jobs.
✓ Kona Girl, LLC, a women’s athletic apparel manufacturer in Lower Macungie Township, borrowed $30,000, creating one job.
AFab Hauling, LLC, a hauling company in Catasauqua, borrowed $23,000, retaining one job.
Amare╩╝ Hairsalon, a salon in Palmer Township, borrowed $35,000, retaining nine jobs.
Dale & Georgia Boutique and Barkery, an Easton retail store featuring all natural dog treats and pet products, borrowed $15,000, creating one job and retaining one other.

8 comments:

monkey momma said...

That's great about the loans, but that pizza picture is going to give me nightmares for the next week. If that is a promotional picture, they need to fire their marketing guy! Good grief, what IS that pizza on the right? I am praying the left is veggie...

Anonymous said...

just what we need, another pizza place and a dry cleaner. wake up jennings

Bernie O'Hare said...

Monkey Momma, I laughed my ass off at your comment. That pic is indeed from the pizza place in question.

Anon 8:30, There can never be too many pizza places.

Anonymous said...

Alan Jennings is an idiot. he gives these bums taxpayer money for their "business". They pay themselves the amount and the business goes bust but they have some cash.

This is a scam. Enough with the bullshit tax money nonsense. You want to start a business get a job and save some money. Freakin Freeloaders.

Katie Bee said...

Is the one on the right ... barbecue pizza? Or is it just a manifestation of Monkey Momma's worst nightmare??

Bernie O'Hare said...

Now see, they look good to me, so maybe that's why I blog a lot.

Anonymous said...

Thank God the new conservatives are going to Congress. These taxpayer freeloader Socialist programs will be slashed.

It is about time. Want to start a business, get a job, save your money and go for it. Don't take my money. I am offended that Mr. Jennings and his fellow socialists get to hand out my hard earned money.

Bernie O'Hare said...

Great argument, and totally inaccurate. According to Jennings, "roughly 75% of the funds we have available to lend are from private sources, including a network of about 20 individual investors who lend us an average of about $10,000 each, interest-free, for five years. Another $700,000 comes from bank investments."

This is a very good program, and I daresay one a conservative should embrace.