Small Business Lending Insider

April 2019
Farewell From the Director's Desk
My career at SEDA-COG began as a program analyst in September of 2010.  Throughout my tenure, I transitioned to senior program analyst, portfolio manager and most recently, director of  the Business Finance Department. I have had the privilege to work not only for a wonderful organization but with a dynamic and innovative team that cares about the businesses we serve. As I transition out of SEDA-COG and begin the next chapter of my career, I wish each and every one of you continued success and much happiness in all that you endeavor.
Latest Rates


SBA 504 10-yr 2.92% 4.63% 4.69% April 2019
SBA 504 20-yr 2.98% 4.37% 4.40% April 2019
SBA 504 25-yr 3.21% 4.53% 4.56% April 2019
SEDA-COG PIDA 3.50% N/A N/A Through Jun. 2019
SEDA-COG RLF 4.25% N/A N/A Through Jun. 2019
Success Story
Dattam Hospitality, LLC (Glass House Inn)

Nigam Bhavsar formed Dattam Hospitality, LLC for the purpose of owning and operating a family-owned motel located at 3202 West 26th Street in Erie, PA.  SEDA-COG Local Development Corporation assisted Dattam Hospitality, LLC with a $281,700 SBA 504 loan and a $60,000 SEDA-COG TEAM loan for the acquisition of land, building, and FF&E of the Glass House Inn.  The motel is a 30-room exterior door property with an outdoor pool.  The current owners were ready to retire after owning the property for 31 years.  Nigam and his family moved from Connecticut to Pennsylvania to embark on this new endeavor.

The SEDA-COG TEAM loan was used toward the FF&E acquisition, while the SBA 504 loan was utilized for real estate acquisition.  Mr. Bhavsar realized the benefits that SEDA-COG had to offer and partnered with Northwest Bank for the project.

The SBA 504 loan program offered a 20-year fixed rate low interest loan.  The SEDA-COG TEAM loan also had a low fixed rate and was available for the partial equity injection into the project.  The additional equity injection came from borrower cash.

John Reichard, SEDA-COG Senior Relationship Manager, worked closely with Mr. Bhavsar to bring this financing package to fruition with the assistance of Paul Kruszewski, Business Banker at Northwest Bank, Erie, PA.

The motel has had several updates in the past couple of years including new carpeting, new mattresses, upgrading to 32-inch TVs in each room, and free Wi-fi.  The Glass House Inn also has a well-maintained outdoor pool.

The hotel expects to create 2 full-time jobs as a result of the project.

When asking Nigam about his  experience with SEDA-COG he said, "Everyone at SEDA-COG was very responsive and professional when answering all of my questions.  John Reichard was very knowledgeable with the SBA 504 program and was able to walk me through the details of the program and all of the finance staff was very helpful."

For more information or to reserve a room, visit
Northwest Bank partnered with SEDA-COG  on the project for Dattam Hospitality, LLC. 

Northwest Bank is a full-service financial institution that offers a complete line of personal and business banking products, loans, investment management, trust and insurance services and employee benefits from 172 full-service locations across Pennsylvania, New York, and Ohio.  Northwest Bancshares, Inc. is the holding company of Northwest Bank and is listed on the NASDAQ Global Select Market as NWBI.  You can find more information about Northwest at

According to Paul Kruszewski, Business Banker at Northwest Bank
, "SEDA-COG was instrumental in providing a financing solution for Dattam Hospitality, LLC.  By offering an attractive rate and borrower friendly terms, Northwest and SEDA-COG were able to provide a winning solution to our borrower.  The staff at SEDA-COG was very timely and informative allowing for an easy loan approval process.  I look forward to partnering with John Reichard and SEDA-COG on future opportunities."

About Us

SEDA-COG's Business Finance Department serves the entire state of Pennsylvania and  rural counties in Maryland  for the   SBA 504 Program .
For PIDA and SEDA-COG loans, we cover  an 11-county area in central Pennsylvania including Centre, Clinton, Columbia, Juniata, Lycoming, Mifflin, Montour, Northumberland, Perry, Snyder, and Union counties.

For more information - or

Senior Relationship Manager II
P: 570-524-4491
C: 570-850-0195
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