Two more Burlington County businesses have been approved to receive interest-free HELP loans to assist with their pandemic recovery.
The Burlington County Commissioners voted last month to approve the two zero-interest, $50,000 loans for Del Val Designs, a Mount Holly printing and engraving business, and The Supreme Dessert Shop, a Willingboro dessert and sandwich shop.
The loans come from the County’s Health Emergency Loan Program, also known as HELP. The program was established by the Commissioners last fall in response to the health crisis and resulting economic fallout.
So far, seven Burlington County businesses have received interest-free loans through the program, and the Commissioners want businesses to know that there is still money available for additional loans.
“From the start of the pandemic our Board has done everything possible to support both our county’s residents and our small businesses, and we continue to do so,” said Commissioner Director Felicia Hopson. “Our HELP loans have provided vital financing to local businesses who either fell through the cracks and failed to qualify for federal or state help or because they needed additional funds during this challenging time.”
Del Val Designs is a small, family-owned printing and engraving business that has operated in downtown Mount Holly for the last 11 years. Their $50,000 loan is expected to finance repairs and modifications to the business’ Mill Street building to comply with COVID-19 restrictions and guidelines and support expanding business opportunities. The loan will also finance the purchase of updated equipment.
The Supreme Dessert Shop is a new dessert and sandwich place planned to open in the East Ridge Plaza Shopping Center in Willingboro. The opening was delayed due to the pandemic, which both slowed down construction at the site but also increased the costs.
The restaurant’s loan will be used to install a commercial kitchen and acquire other equipment needed for the restaurant, including COVID-19 safety measures.
“Del Val Designs is an established business that’s trying to recover and adjust to the ‘new normal’ and the Supreme Dessert Shop is a new business that is trying to get off the ground,” said Hopson, who is the Commissioners liaison to Economic Development. “Both have been negatively impacted by the pandemic and are looking to our county for assistance. We’re pleased to give them some support with these HELP loans.”
Funding for the loans was secured by the Burlington County Bridge Commission’s Economic Development Office, which is also administering the loan program.
“Burlington County is a fantastic place to live and raise a family and also grow a business, and the Bridge Commission is proud to partner with the County Commissioners to provide these interest-free loans to small businesses impacted by the pandemic,” said Matt Riggins, chairman of the Burlington County Bridge Commission. “We’ve seen how these loans can be a lifeline and how they have helped owners retain employees and purchase equipment required for their businesses to grow again. By making this assistance available, we’re sending a message to our county’s business owners that they’re not facing this crisis alone.”
There is still money remaining for businesses in need. Up to $50,000 in zero-interest financing is available for business-related purchases, payroll and other expenses.
For more information or to apply, go to www.bcbridges.org/covid19-resources/ .