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Alle-Kiski Industries Expands with Help of SBA 504 Loan

 
3/2/09 - Alle-Kiski Industries Expands with Help of SBA 504 Loan

The following article appeared in the National Association of Development Companies newsletter:

NADCO Certified News: Entrepreneurs Kevin Hartford and Ed Newell, both natives of Leechburg, PA, had watched their town decline over the past 15 years as manufacturing facilities continued to close down. They were well aware of the economic situation, however, they had their hearts set on reviving a struggling manufacturing company scheduled for shutdown by its retiring owner after 34 years.

The two purchased the assets and Alle-Kiski Industries was born with plans to expand. Under dedicated management, Alle-Kiski Industries took flight almost immediately. Starting with six employees working a job-by-job schedule, Kevin and Ed immediately hired 12 more skilled workers, and leveraged their financing into 24 jobs in four months. To meet rapidly increasing demand, Alle-Kiski added a second shift of workers within three months.

In 2006, Alle-Kiski Industries received an SBA 504 loan through Bridgeway Capital Certified Development Company and Enterprise Bank to purchased their building. It was transformed into a two-sided shop with 27,000 square feet of manufacturing space, machining on one side and welding and fabricating on the other. After purchasing the facility, the company hired 26 people in less than two years, mostly into skilled positions receiving higher living-wage jobs, benefits, and a flexible atmosphere.

Today, Alle-Kiski is a thriving, multi-faceted machining company that grew to $5.5 million in sales – a 300 percent increase in growth – in three years. The company now employs 50 people in a full-service machining and fabricating facility with a scope of services, including fabricating and welding, heat treating, assembly and quality assurance, tool and die services, and much more.

By purchasing a permanent facility with the SBA 504 loan, Alle-Kiski Industries has brought new life and hope to a lagging local economy. The company continues to grow, and has become vital to both the Leechburg community and the manufacturing industry.

 
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