Bucks County Economic Development Corp. recognizes Penn Community Bank’s contribution to local economy
The financial organization was recognized for its commercial lending project that helped Sherwood Steel create jobs in Lower Bucks
Penn Community Bank recently announced that it has been honored by the Bucks County Economic Development Corporation (BCEDC) for its role in expanding Bucks County’s economic base. The award was presented at the organization’s annual dinner on April 25 at Spring Mill Manor.
The BCEDC, which marks its 60th anniversary this year, recognized Penn Community Bank specifically for a commercial lending project to assist Sherwood Steel, a family-owned business that sells galvanized sheet metal and accessories. With the assistance of Penn Community Bank, Sherwood Steel was able to purchase a new facility in Bensalem, creating high-quality jobs.
“We are proud to partner with local companies like Sherwood Steel to increase economic opportunity for everyone in Bucks County,” said Derek P.B. Warden, executive vice president, chief lending officer at Penn Community Bank. “Our experienced commercial lenders are dedicated to supporting economic growth and job retention and creation across the region, and we thank Bucks County Economic Development Corporation for this recognition.”
Penn Community Bank helped secure a low-interest, Pennsylvania Industrial Development Authority-approved loan for Sherwood Steel, providing the purchasing power the company needed to acquire the 30,000-square-foot facility. The new building purchase will enable the company to have more inventory readily available, allowing them to tackle larger projects.
For more information on Bucks County Economic Development Corporation, visit bcedc.com