Columbia, MD (December 15, 2008) – The Howard County Economic Development Authority is pleased to announce that Susquehanna Bank has joined the Route 1 Revitalization Loan Program.

“Howard County welcomes Susquehanna Bank’s participation in the Route 1 Revitalization Loan Program,” said County Executive Ken Ulman. “Susquehanna Bank is the third bank to join the program this year, and its commitment will help greatly enhance U.S. Route 1 and make it a thriving business community.”

To revitalize and redevelop U.S. Route 1, the Howard County Economic Development Authority established a revitalization loan program to encourage businesses to improve building and site conditions along U.S. Route 1. The loan program offers at or below market rate financing through participating banks based upon their own lending criteria.

“Susquehanna Bank is excited to participate in Howard County’s Route 1 Revitalization Loan Program,” said Barry Luciani, Senior Vice President of Susquehanna Bank. “We look forward to the opportunity to assist Howard County business owners and improve the Route 1 community.”

Susquehanna Bank operates 28 branches in the Baltimore area, including three in Howard County. Under the Route 1 Revitalization Loan Program, Susquehanna Bank offers Route 1 businesses loans within the following guidelines:

• $20M for specified Howard County revitalization projects
• Loan limits from $50,000 to $5M
• Loans available for new construction, expansion, building and site improvements for owner occupied properties; maximum amortization up to 25 years with a 5 year term
• Preferred interest rates on fixed and variable loans
• Low loan fee of 0.5%
• Susquehanna Bank will work with SBA and j-ref (Jim Rouse Entrepreneurial Fund) program participants
• Participation to continue until the $20M has been allocated
• Full array of deposit services to manage daily cash flow at preferred pricing

To learn more about Susquehanna Bank’s Route 1 Revitalization Loan Program lending criteria, Route 1 businesses should contact the following Susquehanna Bank representatives:  Don Cutwright at 443-334-4536 or Jennifer Shaffer  at 410-740-9809.

Recently, the Howard County Economic Development Authority announced OBA Bank and Provident Bank’s participation in the Route 1 Revitalization Loan Program.  With Susquehanna Bank’s participation, the program now has eight banks committed to enhancing the community through assisting Route 1 businesses. Twenty-four projects, totaling over $25 million, have been approved for the Route 1 Revitalization Loan Program since its inception in 2002 through five participating banks: BB&T, Howard Bank, M&T Bank, PNC Bank, and The Columbia Bank.

Guidelines for revitalization loans include location and land use criteria, redevelopment criteria, and proposed building and site improvements that are encouraged as part of new development or redevelopment projects.

For more information about the Route 1 Revitalization Loan Program and the current Revitalization efforts, please contact the Howard County Economic Development Authority at 410-313-6500.

About Susquehanna Bank: Susquehanna Bank operates more than 235 branches in Pennsylvania, New Jersey, Maryland and West Virginia. It is part of Susquehanna Bancshares, Inc., a financial services holding company with assets of approximately $14 billion. Through Susquehanna Wealth Management, the company also offers investment, fiduciary, brokerage, insurance, retirement planning, and private banking services. Susquehanna also operates an insurance brokerage and employee benefits company, a commercial finance company and a vehicle leasing company. For more information, please visit www.susquehanna.net.

The Howard County Economic Development Authority is a public-private partnership that promotes growth and stability by supporting existing businesses, targeting new businesses, and attracting corporate/regional headquarters. The Authority also maintains several programs aimed at the special needs of small, minority-owned, and agricultural business communities. Additionally, the Authority strives to preserve the distinctive quality of life in Howard County. To learn more about the Howard County Economic Development Authority or The Center for Business and Technology Development, visit  www.hceda.org.

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