Lancaster County tech business acquired by GDC Solutions

Elizabethtown-based CSB Technology Partners has been acquired by GDC IT Solutions of Mechanicsburg, it was announced Monday. 

As CSB delivers IT services to medium and small-sized companies, the acquisition allows GDC to expand into Lancaster County and central Pennsylvania. 

“The addition of CSB Technology Partners strengthens GDC’s presence in Lancaster County, allowing us to foster growth with exceptional service and personalized solutions in the region,” GDC CEO Dan Logan said in a statement.

GDC will maintain an office in Elizabethtown to support CSB clients and expand its presence in the area.

CSB provided end-to-end managed IT services with a focus on network infrastructure, wireless (Wi-Fi), virtualization, PCI compliance, and network security. The company has maintained industry partnerships and affiliations with Barracuda, Cisco Systems, Fortinet, and Ruckus.

Mike Coons, GDC’s chief financial officer and executive vice president of Mergers and Acquisitions, said the strategic move bolsters the company’s portfolio and enhances its ability to provide IT solutions.

“CSB’s deep industry expertise in wireless, cyber security, LAN/WAN, voice/video, and virtualization aligns with our commitment to delivering quality outcomes and customer service excellence,” said Coons. “Together, we are well positioned to offer our customers an even more comprehensive and robust suite of solutions, reaffirming our dedication to innovation and excellence in the IT landscape.” 

Agriculture, forestry industry receives highest amount in business loans, study says

A new study reveals that the agriculture and forestry industry receive the highest amount in approved business loans, per employee and establishment.

Mining, quarrying, and oil/gas extraction rank second, while accommodation and food services place third according to the study conducted by Capital on Tap. A business credit card company, Capital on Tap studied the latest census data from January to December 2021 to find the industries receiving the highest amount of business loans.

Hugh Acland, director of Capital of Tap, highlighted the importance of financial support for businesses and in particular, small businesses.

“Many smaller businesses rely on different forms of financial aid: It’s not unusual for companies to draw on a mixture of small business loans, corporate credit cards, and grants in order to get their company off the ground, meet cash flow needs, or expand their operations,” Acland said in a release.

The agriculture and forestry industry heads the list with an average of $419,287 in approved loans per establishment. Together with an average of $64,520 per employee, agriculture and forestry are the primary beneficiary of small business loans, enabling them to significantly boost to the job market.

The mining, quarrying, and oil/gas extraction industry follows with $96,212 in approved loans per establishment and a total of $2,208,058,831.

The accommodation and food services industry ranks third, receiving an average approved loan amount of $51,242 per establishment for a total of $38,200,648,886. Finishing fourth is the education sector, which is averaging $42,840 per establishment, with a total of $4,741,996,532.

Completing the top five is the arts, entertainment, and recreation industry, with $42,580 in approved loans per establishment and an average of $4,207 per employee.

“Depending on the industry, the degree of financing required can vary considerably. The agricultural sector, for instance, needs significant upfront investments in land, equipment, machinery, and technology,” Acland said.

“In contrast, financial and insurance companies that drew on business loans required the lowest level of financing, as they are typically service-based consultancies with low capital requirements.”