SUPRA-EMSCO Headquarters
About the project
SUPRA-EMSCO is a minority-owned supplier of office, laboratory, and medical supplies and equipment. SUPRA-EMSCO is an alumni of the Goldman Sachs 10,000 Small Businesses program and has also been recognized by a number of local programs, including the Philadelphia Circle of Excellence Awards and Philadelphia 100 Awards.
SUPRA-EMSCO is based in West Philadelphia, PA.
LISC provided $2.51 million in financing to SUPRA-EMSCO ($510,000 in refinancing debt and a $2.00 million construction loan) to assist them in building a new headquarters and warehouse to grow their operations to fulfill newly secured business contracts. SUPRA-EMSCO had outgrown its current facility and sought to expand in the West Parkside neighborhood of West Philadelphia. The new facility will allow SUPRA-EMSCO to add new services, including cell center services, cold storage, secure biological storage services, cryopreservation, biological transport services, DNA sequencing, and molecular profiling. This project supports rehabilitation of a vacant and blighted lot and furthers the growth of a minority-owned business enterprise. It aims to create at least 65 jobs and retain 20 jobs, focusing on making new jobs available to area residents. As part of their hiring practices, SUPRA-EMSCO offers apprenticeship programs for employees and prioritizes hiring low-to-moderate income residents from the surrounding neighborhoods.
Partner:
Supra Office Solutions Inc.
Location:
Philadelphia, PA
Total Investment:
$2.51 million
Results:
70,000 sq. ft. commercial space
85 jobs created or preserved
Project Category:
Employment Generation
Sub-Category:
SME Financing
Product:
Refinancing Debt & Construction loan
Website:
UN SDGs:
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