Area businesses get more than $600,000 in funding

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The Ben Franklin Technology Partners of Northeastern Pennsylvania's board of directors approved the investment of $621,804 and will award nine companies in the region with a mixture of loans and matching funds.

"It is actually a larger funding round, but the size of our rounds varies according to the client needs and the amount of funds we have available to invest," said Laura Eppler, director of marketing for Ben Franklin Technology Partners. "We try to be as flexible as possible to meet the needs of the clients."

The nonprofit agency supports regional economic development by growing early-stage technology-oriented companies, helping established manufacturers apply new technology and business practices to achieve industry leadership and promoting a community-wide infrastructure.

The agency typically offers funding rounds five to six times per year, Eppler said today.

Ben Franklin will award the following companies with early-stage investments in the form of loans:

• $35,000 to Colymer Industries, at Ben Franklin TechVentures, Bethlehem.

• $75,000 to Pivitec LLC, at Ben Franklin TechVentures, Bethlehem.

• $100,000 to TSG Software, at Ben Franklin TechVentures, Bethlehem.

Ben Franklin provides at least one-to-one matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers. The agency will award the following with an established manufacturer investment:

• $50,000 to Applied Separations Inc., Allentown. University partner: Philadelphia University.

• $27,650 to Cambridge-Lee Industries LLC, Reading. College partner: Northampton Community College's Emerging Technologies Applications Center.

• $50,000 to Custom Processing Services Inc. College partner: Northampton Community College's Emerging Technologies Applications Center.

• $25,000 to EcoTech Marine LLC, Allentown. University partner: Lehigh University's Enterprise Systems Center.

• $50,000 to Georg Fischer Harvel, Easton, (formerly Harvel Plastics Inc.). University partner: Lehigh University's Enterprise Systems Center.

• $25,000 to KME Kovatch, Nesquehoning. University partner: Lehigh University's Enterprise Systems Center.

Brian Pedersen

Brian Pedersen

Reporter Brian Pedersen covers construction, development, warehousing and real estate and keeps you up to date on the changing landscape of our community. He can be reached at brianp@lvb.com or 610-807-9619, ext. 108. Follow him on Twitter @BrianLehigh and read his blog, “Can You Dig It,” at http://www.lvb.com/section/can-you-dig-it.

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