Category: Business Finance

SEDA-COG Assists Centre County Restaurant

SEDA-COG Assists Centre County Restaurant

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Lori and Jessica Sabatino, co-owners of Alloy Kitchen, LLC, are opening their restaurant’s doors on February 23, 2022, after a year of planning, construction, and patiently waiting for equipment to arrive. They are located in Titan Hollow, a place of enchantment nestled down in Victorian Bellefonte, Pennsylvania at 2042 Axemann Road.

Alloy Kitchen, LLC partnered with SEDA-COG and received a SEDA-COG EDA COVID-19 loan for the purchase of the kitchen equipment for the new restaurant.

“We are very happy to have played a part in this new start-up in the Bellefonte area of Centre County. The SEDA-COG EDA COVID-19 loan program was designed not only to assist existing businesses facing financial hardships due to COVID-19, but to assist individuals who were impacted by the pandemic as well. Lori had been displaced from her restaurant job and this endeavor with Jessica will allow her to continue her passion in the food service industry,” said John Reichard, SEDA-COG Business Relationship Manager.


Lori has been in the food and beverage industry for almost 30 years. Her creativity and passion are apparent in Alloy’s diverse menu which brings familiarity, while also forging something unique. Alloy Kitchen, LLC is a full-service restaurant with take-out sales available. They are partnering with Mad MacIntosh Cidery and Witches Hollow Winery, and Titan Events, who have a large event space and tasting room in Titan Hollow. This space will be available to host events such as weddings, baby showers, holiday parties, birthday parties, and retirement parties. The restaurant will be open Wednesday and Thursday from 11 a.m. to 9 p.m., Friday and Saturday from 11 a.m. to 10 p.m., and Sunday from 11 a.m. to 7 p.m. You can check them out on their website (https://titanhollow.com/), Facebook (https://www.facebook.com/Alloy-Kitchen-112767994227295/about/), or Instagram (https://www.instagram.com/alloy_kitchen/)


For more information about SEDA-COG’s loans, please contact John Reichard at jreichard@seda-cog.org.

As a community and economic development agency, SEDA-COG enhances the quality of life and economic advantage for residents and businesses in 11 central Pennsylvania counties through its vital partnerships and initiatives. SEDA-COG also is an advocate for the interests of its communities at the state and federal levels. For more information, visit www.seda-cog.org.

For more information, please contact Elaine Stauder, communications coordinator, SEDA-Council of Governments, at 570-522-7429 or estauder@seda-cog.org.

Snyder County Market Opens with SEDA-COG and Mifflinburg Bank & Trust Partnership

Snyder County Market Opens with SEDA-COG and Mifflinburg Bank & Trust Partnership

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SEDA-COG Local Development Corporation recently assisted Beaver Valley Country Store, LLC with an SBA 504 loan for the purchase of Saylor’s Market on Route 522 in Beaver Springs, Snyder County. The proud new owners of the store are Steve Witmer, Aaron Witmer, Rick Maloyed, and John Anthony.


SEDA-COG Local Development Corporation partnered with Mifflinburg Bank & Trust Company on this project. The SBA 504 loan program offered the borrower a 25-year low interest fixed rate loan for 35% of the total financing need.
John Reichard, SEDA-COG Business Relationship Manager and Tina Showers, SEDA-COG Principal Program Analyst worked with the four partners and Amber Gabrielson, Commercial Lender at the Selinsgrove Branch of Mifflinburg Bank and Trust Company, to bring this financing package to fruition.


Rick Maloyed said they couldn’t have done this without Mifflinburg Bank & Trust and SEDA-COG. “We felt like we had a great team going into the project and both Mifflinburg Bank & Trust and SEDA-COG were very helpful in guiding us through this process.”


Beaver Valley Country Store will be offering new products in the future. They now have a bakery, which offers donuts, pies, full, half, and quarter sheet cakes as well as round cakes and cupcakes that can be custom made for any occasion. They also offer fresh produce, meats, frozen foods, a deli, and other various items. You can like and check out their Facebook page: https://www.facebook.com/beavervalleycountrystore for weekly flyers and events at the store.
For more information about SEDA-COG’s loans, please contact John Reichard at jreichard@seda-cog.org or Mike Morrison at mmorrison@seda-cog.org.


As a community and economic development agency, SEDA-COG enhances the quality of life and economic advantage for residents and businesses in 11 central Pennsylvania counties through its vital partnerships and initiatives. SEDA-COG also is an advocate for the interests of its communities at the state and federal levels. For more information, visit www.seda-cog.org.


Mifflinburg Bank & Trust Company is a full-service commercial bank servicing customers from eight locations in Mifflinburg, New Berlin, Lewisburg, Selinsgrove, Shamokin Dam, Millheim and Milton. The bank has 15 ATMs in Union, Snyder, Northumberland and Centre counties, and, as a member of Moneypass®, customers have access to over 37,000 ATMs nationwide. For more information on Mifflinburg Bank & Trust, visit mbtc.com.

Port Trevorton restaurant opens using COVID-19 and local bank loans

Port Trevorton restaurant opens using COVID-19 and local bank loans

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Shaffer Restaurant and Soft Serve in Port Trevorton was purchased in December 2020 and the restaurant’s new name is Lauver’s Family Traditions Restaurant. Charlene Lauver is the new owner and operator of the business. Lauver’s Family Traditions Restaurant opened on January 5, 2021. Charlene partnered with Northumberland National Bank and SEDA-COG for the purchase of Shaffer Restaurant and Soft Serve. The restaurant industry has been hit very hard by the COVID-19 pandemic. In December 2020, restaurants were forced to operate at 50% capacity which qualified the SEDA-COG loan to fall under the federal Economic Development Administration’s (EDA)-COVID-19 eligibility.

Tom Rall of Northumberland National Bank was able to connect Charlene with local resources and made the introduction to SEDA-COG for funding. “We were pleased to partner with SEDA-COG and support a new local business while reducing the overall cost on interest for the life of the loan. We’re thrilled that everyone worked hard to help Charlene’s restaurant meet the timeline for the Sales Agreement.” The Northumberland National Bank carried the SEDA-COG portion of the project until the EDA –COVID funds could be disbursed.

Ms. Lauver was very happy with the SEDA-COG EDA COVID-19 loan’s low interest rate that is fixed for the life of the loan. “The savings on interest is a great help to my business,” Lauver said.

Ms. Lauver has over 12 years of experience as an owner and operator of a restaurant. She previously owned another restaurant until 2018, when she sold the business. When asked why she wanted to get back in the restaurant business, Ms. Lauver said “After taking a two-year break and working for other people, you miss the feeling of contentment and all of the customers.”

Lauver’s Family Traditions Restaurant is a full-service restaurant and ice cream stand. For people who would rather eat at home or have a nice picnic, they also offer take out service. They can cater your event as well. Currently the restaurant is only open Thursday – Sunday serving breakfast, lunch, and dinner. They also offer daily specials. The Sunday lunch special is a home cooked style meal. You can check them out on facebook or at https://lauvers-family-traditions-restaurant-llc.business.site/. For take-out, call the restaurant at (570) 374-2840.

For more information about SEDA-COG’s loans, please contact John Reichard at jreichard@seda-cog.org or Mike Morrison at mmorrison@seda-cog.org. To learn more about The Northumberland National Bank’s business lending, visit https://norrybank.com/business/loans/

As a community and economic development agency, SEDA-COG enhances the quality of life and economic advantage for residents and businesses in 11 central Pennsylvania counties through its vital partnerships and initiatives. SEDA-COG also is an advocate for the interests of its communities at the state and federal levels. For more information, visit www.seda-cog.org.

Small business loans through SEDA-COG to waive fees, first several payments

Small business loans through SEDA-COG to waive fees, first several payments

Posted on by DNS Admin

A loan program that helps small businesses is providing further relief by waiving fees and the first several months of payments on certain loans.

SEDA-Council of Governments (SEDA-COG) offers the U.S. Small Business Administration (SBA) 504 loan program throughout Pennsylvania which features fixed rates, long terms, and low down payments. Now, certain fees associated with the loan are being waived because of the CARES Act passed late last year. The fee elimination lowers the out-of-pocket cost to the borrower and the effective rate of the 504 loan from the rates that are quoted.

The SBA also will pay the first three months of payments on behalf of the borrower for loans approved by the SBA by Sept. 30, depending on availability of funds.

Doug Wilburn, director of SEDA-COG’s Business Finance program, said this is welcome news for many small businesses that are struggling through the pandemic.

“Small businesses are the backbone of the economy, and we hear from so many clients how the SBA 504 loan program gives their business the boost it needs to grow by freeing up working capital. Now, this new fee and payment waiver gives businesses breathing room, especially during these difficult times,” Wilburn said.

The SBA 504 loan program can meet many growing businesses’ needs, including purchase of an existing building, new construction, or a building renovation. It also can be used to buy equipment and refinance existing real estate or equipment debt.

Businesses can finance up to 40% of a project at a long-term fixed rate. Lower down payment for as little as 10% helps businesses preserve working capital. Real estate purchases get a 20- or 25-year term and amortization with no balloon payment. Equipment purchases can also be financed through the 504 program with a 10-year term and amortization.

Eligible applicants include for-profit businesses that occupy a majority of their space with a net worth of less than $15 million and less than $5 million in profit after taxes.

For more information about SBA 504 loans through SEDA-COG, contact John Reichard at jreichard@seda-cog.org or 570-850-0195.

SBA 504 10-year effective rate:

  • Standard: 2.45%
  • Refinance: 2.48%

SBA 504 20-year effective rate:

  • Standard: 2.72%
  • Refinance: 2.76%

SBA 504 25-year effective rate:

  • Standard: 2.76%
  • Refinance: 2.80%

As a community and economic development agency, SEDA-COG enhances the quality of life and economic advantage for residents and businesses in 11 central Pennsylvania counties through its vital partnerships and initiatives. SEDA-COG also is an advocate for the interests of its communities at the state and federal levels. For more information, visit www.seda-cog.org.