A South Scranton day care center is the first recipient of the Lackawanna County Small Business Administration (SBA) fee waiver funding, which was used for the purchase of a new building to expand its operation.
Freckles and Frills received a $12,054 SBA Guaranty Fee, paid by Lackawanna County, according to Commissioners Corey D. O’Brien, Jim Wansacz and Patrick M. O’Malley.
“This is great news,” said Commissioner Corey D. O’Brien. “We are very happy to help a small business expand and be able to deliver additional service. We hope this is the first of many more projects to come. This was the purpose of this initiative and we are looking forward to assisting more Lackawanna County companies with their growth plans.”
“This is what we want to accomplish through our economic development program – keep firms here, help our communities to grow, and provide employment opportunities for our residents,” explained Commissioner Jim Wansacz.
“Not only is this our first loan, but it is also helping to assist a growing section of our population, the Hispanic community,” noted Commissioner Patrick M. O’Malley. “This project has a dual purpose – it is helping a business to grow and serve more clients and also enabling families to go to work with peace-of-mind that their children are being taken care of in a safe atmosphere.”
Freckles & Frills is a daycare center and preschool that provides quality childcare to working families for children ages six weeks to 12 years old. It has been in business in South Scranton since 1977.
The center currently has a total enrollment of 120 children. The facility serves a significant number of Hispanic children, utilizing a bilingual staff.
The company recently purchased a new, larger facility at 515 Fig Street, which is 10 blocks from its present site, 100 Pittston Avenue. It will utilize the SBA loan to pay-off the new building purchase, complete renovations to the facility, market its services through a new website, upgrade its educational programs, and hire seven employees, which will increase its staff to 19 individuals.
The total project cost is $950,523.
The Fidelity Deposit & Discount Bank, an area leader in SBA lending, financed this venture.
Announced on November 28, the fee waiver program is designed to promote economic development, spur local growth, and encourage the private sector to create family-sustaining jobs in our community. The County is allocating funds through its economic development budget line item for the SBA program.
For a business to participate in the waiver program, it must: be approved by the SBA; be approved by a local lending institution; deploy 100% of the SBA loan proceedings in Lackawanna County; and meet the SBA 7(a) or 504 Loan Programs’ job requirements and all other SBA and lending institution stipulations. (Generally, a business must create or retain one job for every $65,000 guaranteed by the SBA. Small manufacturers must create or retain a ratio of one job for every $100,000.)
In order for a qualified business to participate in this program, the firm’s qualified lender must submit an application form at least (30) days prior to the loan closing along with a corporate resolution agreeing to the terms and conditions of the program, an approved business plan, and SBA loan documents.
For further information on the SBA Fee Waiver Program, contact Mary Liz Donato, Coordinator, at (570) 963-6830.
|Freckles & Frills Gets SBA Fee Waiver Check – Freckles & Frills Early Learning Center was the first recipient of the Lackawanna County SBA fee waiver program. The business received a $12,054 check from the Lackawanna County Commissioners for its project, which involved the purchase and renovation of a South Scranton building and the creation of five new jobs that were a combination of full-time and part-time positions. The four-star day care/learning center has 127 students and coordinates an after school program. L-r, Christopher J. Cawley, Managing Director of the Northeastern Economic Development Company of Pennsylvania-CDC, Inc.; Commissioner Corey D. O’Brien; Daniel Aguirre, Administrative Manager of Freckles and Frills; Elizabeth Keiper, Freckles and Frills owner; Commissioner Jim Wansacz; and George Kelly, Director of Economic Development for Lackawanna County.|