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MVEDP approves loan for ambulance

by on February 08, 2018 10:14 AM

PHILIPSBURG — Officials of the Moshannon Valley Economic Development Partnership has announced that a $58,000 loan recently was made to Moshannon Valley Emergency Medical Services for the purchase of a new ambulance. 

“We are very pleased to assist Moshannon Valley Emergency Medical Services in their efforts to provide the right number of emergency vehicles to serve the region,” said Tom Scott, chairman of the MVEDP's Revolving Loan Fund Committee. “We have now made nine loans to MVEMS, and eight of those loans were for the purchase of new ambulances.”

“Over the past 14 years, our MVEMS board of directors has been very diligent in its work to ensure that the vehicles are keeping up with the emergency services needs in the area,” said Shelly Tormey, co-corporate manager at MVEMS. “It is essential that MVEMS have the right capacity to address emergency needs, especially since we do not have a local hospital anymore.

“Our ambulances are being driven much longer distances and our crews are involved in emergency situations for longer periods of time. The new ambulance will significantly increase our emergency response capacity.”

“The partnership made its first loan from the revolving loan fund program in 1991,” said Stan LaFuria, executive director of the MVEDP. “We like to work with area businesses and their banks on projects that will enable them to either create or retain jobs.

"Since the inception of the program in 1991, a total of 66 loans have been approved totaling $3.5 million. That $3.5 million was leveraged with $10.7 million of bank financing or private funds, and the projects that were funded resulted in the creation or retention of 361 jobs.”

The partnership’s revolving loan fund program is available to businesses located throughout the Moshannon Valley region. Funds can be used for land and building projects, working capital or for machinery and equipment purchases.

Businesses involved in projects should have either bank financing or their own equity to contribute to their projects, as the loan program only provides up to 50 percent of the financing. The minimum loan is $15,000, and the maximum loan is $100,000.

For more information, call MVEDP at (814) 342-2260. 

 

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