August 13, 2014
Philadelphia is home to thousands of businesses that contribute to the success of its economy. Family owned businesses are a big part of that story and PIDC is an avid supporter at keeping them growing strong for generations to come. We are proud to have recently provided resources to the following family-owned and operated businesses.
Dietz & Watson a 75 year old family business, now in its fourth generation is a supplier of premium deli meats and artisan cheeses headquartered in Philadelphia. The company recently announced it was expanding and reinvesting in Philadelphia creating 158 new jobs and constructing its new distribution facility in the Tacony section of Philadelphia. The Governor’s Action Team, Philadelphia Mayor Michael Nutter, Philadelphia City Councilman Bobby Henon and PIDC partnered to make this expansion possible.
With more than 80 years serving the Philadelphia area, Collision Care Auto Body Centers, a family owned business, meets the highest standards in customer satisfaction and are members of the Certified First Network of collision repair shops. Collision Care has locations in South and Northeast Philadelphia. PIDC provided Collision Care with a Capital Project Loan to purchase and renovate its Fishtown location.
Samuel Rhoads started a Philadelphia sheet metal shop in 1938 and operated the company for over 30 years before passing it on to his sons. In 1991, the company was again passed down, this time to Samuel’s grandsons. Currently located at The Navy Yard and continuing with its family tradition, Rhoads Industries has had contracts with the Department of Defense and other government contractors such as Northrop Grumman, Lockheed Martin, and Rolls Royce. PIDC provided Rhoads Industries with a Capital Project Loan and facilitated a Welcome Fund (EB-5) loan to support their contracts and acquisition and renovation of its facilities.
As one of PIDC’s newest clients, WebLinc was founded in 1994 and is headquartered within three separate buildings in the Old City section of Philadelphia. They specialize in the development of e-commerce web-sites for retailers, and other corporate clients. In addition to its traditional e-commerce development services, WebLinc provides mobile development, managed hosting, search engine optimization, and maintenance services.
Throughout their 20 years in business, WebLinc has been growing steadily and developed a need for permanent working capital financing to support personnel growth and internal marketing efforts to support the growth of its e-commerce business. Through PIDC’s new Working Capital and Equipment loan program, we were able to provide WebLinc with the capital they needed to continue to grow here in Philadelphia.