The Montgomery County Commissioners Thursday authorized the County Development Corporation to issue commitment letters for two small business loans. One of the loans totals 125,000 and will be used for equipment by the vendors at the Flourtown Farmers Market as they relocate into new quarters at 1800 Bethlehem Pike in Springfield Township. Commerce Department Director Carolina Digiorgio says the other loan is for 175,000 and will be used by an entrepreneurial group that is remodeling the space adjacent the Keswick Theatre in Glenside into a restaurant and cabaret.
“The purpose of the loan would be to purchase equipment, working capital and for façade renovations for the new restaurant and cabaret. This loan would secured by the personal guarantee of one of the members and a security interest in the equipment.”
These are the first two small business loans issued by the Montgomery County Development Corporation since the commerce department was streamlined more than a year ago.