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Finance

Laboratory, Analytical & Biological Services of New Oxford relied on a federally-funded SBA 504 loan through Adams Economic Alliance to move from East Berlin and ren-ovate a larger facility, shown above, near Cross Keys in eastern Adams County. PHOTO/SUBMITTED

SBA loan fuels growth of Adams lab (access required)

When Fred Richstien II sought financing last fall to expand his business in Adams County, he heard about a federal loan program that might help him achieve his vision.. By summer, he had a financing package totaling $845,000 in hand for his company, Laboratory, Analytical & Biological Services, or LABS, of New Oxford, part of which included a Small Business Administration 504 loan facilitated by the Adams Economic Alliance.

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Rite Aid announces new CEO (access required)

Rite Aid Corp. announced Monday morning that a new leader has been found to run the embattled company, taking over management immediately. Heyward Donigan, a longtime executive in the health care industry, will serve as Rite Aid’s CEO and join the board of directors.

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Central Pa. projects receive millions in state grants (access required)

More than two dozen projects in Central Pennsylvania were awarded millions of dollars in matching grants from the Redevelopment Assistance Capital Program (RACP), supporting both public and private construction and renovation projects across the state. The local grants are part of a broader package of grant awards $275 million for 214 projects statewide.

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