City Line was approved by the NEPA Loan Review Committee for an Economic Development Administration (EDA) and Appalachian Regional Commission (ARC) loan to purchase furniture, fixtures and equipment for their dollar store location. Other sources of financing included an equity injection from the borrower.
City Line is a start-up dollar store in Carbondale, PA. The borrowers have reopened the store as an independent dollar store with the support of “Dollar Store Services” that offers support and competitive purchasing for independently operated dollar stores. The location has been owned for decades by the borrowers. Initially the location was a one-stop-shop hardware store that had items including toys and basic home goods. The borrowers have replicated the operations with the re-opening of the dollar store style business enterprise, as well as incorporating a local vendor market area that allows locally grown and produced goods being offered to their customers.
City Line is utilizing loan proceeds to furnish their new dollar store with furniture, fixtures and equipment. Through the undertaking of this project, the borrowers will create 4 full time equivalent positions.
NEPA Alliance is a full-service economic development lender offering 12 low interest loan programs for job creation and job retention in our region.
Pictured from left: Phil Condron, Condron Media; Jack McNulty, NEPA Board; Jeffrey Box, NEPA Alliance; Nicole Curtis, City Line; Jack Curtis, City Line; Steve Oliveri, Mermelsteins Market Place; Fern Oliveri, Mermelsteins Market Place; Steve Ursich, NEPA Alliance and Donovan Klem, NEPA Alliance.
