With the use of economic development loans, a pair of Moshannon Valley businesses have made acquisitions, including the current home of the Philipsburg Super Bowl bowling alley.
Genna Ice, a longtime Philipsburg ice distributor, is using its loan for the purchase of the bowling alley property, located at 141 Enterprise Drive. Moshannon Valley Emergency Medical Services put the money toward the purchase of a new ambulance, according to a release from the Moshannon Valley Economic Development Partnership, the loan provider. The amounts of the loans were not disclosed.
Tom Scott, chairman of the MVEDP’s Revolving Loan Fund Committee, said in a statement that the organization partnered with Juniata Valley Bank on the MVEMS project. Genna Ice, he added, secured additional financing through CNB Bank and the Pennsylvania Industrial Development Authority.
“The reopening of the local bowling alley and indoor recreation facility has been just terrific for the area,” Scott said in a release.
The partnership’s loan program is open to a number of sectors, including manufacturing, service, retail, commercial and wholesale or distribution firms. The loans, which range from $15,000 to $100,000, can be used for land and building projects, machinery and equipment and working capital.
According to Stan LaFuria, the partnership’s executive director, the loans can be approved and the funds distributed within a 30-day period. More information can be found at the partnership’s website or by calling LaFuria’s office at 342-2260.