Through a combination of Central PA PREP Partners, including the SEDA-COG Export Development Program and the Bucknell Small Business Development Center, and in consultation with The Strategic Early Warning Network (SEWN), the SEDA-COG Business Finance Program was able to assist Greg Patterson, President and CEO of Spices, Inc., with two Revolving Loan Funds for his family-run business. The loans were approved by the SEDA-COG Board of Directors on August 7, 2018.
Spices, Inc., located in Elysburg, Northumberland County, is a manufacturer and distributor of various spices for retail sale through their website as well as for food service businesses and food manufacturers. The company was running out of room at their current location without the ability to occupy additional production space. To solve this problem, the company was looking to invest in a vertical racking system and lift to store their raw material.
With the two $18,000 loans from SEDA-COG and a company match, the company was able to afford the equipment, allowing it to continue to grow. Spices, Inc., currently has 20 full-time employees and will create 2 new full-time positions as a result of this project.