CryoConcepts is committed to the Lehigh Valley. It manufactures cryosurgery and cryotherapy products that once were outsourced, creating jobs locally.
When it needed more room and more equipment, the company secured a loan from the state with assistance from Lehigh Valley Economic Development Corp. (LVEDC) and Lehigh Valley Economic Investment Corp. (LVEIC).
Having experts at LVEDC to guide CryoConcepts through the process was appreciated on many levels, CEO Sam Niedbala said. LVEDC Director of Economic Development Finance Jennifer Weighknecht helped navigate potential obstacles and patiently steered the company to the finish line, he said. 
“Every dollar counts, but it is especially true when you're trying to quickly scale up and get your products to many parts of the world,” Niedbala said.
CryoConcepts is one of several Lehigh Valley companies that recently tapped LVEDC for assistance with financing as they looked to expand and grow.
LVEDC provides administrative support and staffing to LVEIC and the Industrial Development Authorities in Lehigh and Northampton counties. Through those organizations and the Lehigh Valley Lending Network, a unique partnership of local financing institutions, LVEDC helps to provide access to credit and financial incentives.
With assistance from LVEDC, CryoConcepts received a $396,078 loan from the Pennsylvania Industrial Development Authority (PIDA), which provides low-interest loans through certified economic development organizations. Lehigh Valley Economic Investment Corp. fulfills that role for the Lehigh Valley.
“Low interest rate PIDA loans and other financing tools have been instrumental in helping borrowers with their real estate and equipment needs. Below market interest rates can play a major factor in whether or not a project moves forward, and we are happy to assist businesses with their expansion and growth plans,” Weighknecht said.
CryoConcepts makes cryosurgery and cryotherapy products for health care, veterinary, and aesthetics markets in about 45 countries. Some products are for use by professionals while others can be purchased by consumers over the counter to self-treat warts or skin tags.
The once-tiny startup recently moved to a 23,000-square-foot facility in Forks Township. The loan allowed it to purchase critical manufacturing equipment, some of it custom designed, engineered, and made locally.
“Our philosophy is we put every dime, every dollar we can, into the people and the growth of the company,” Niedbala said.
In recent months the firm has hired about 30 people and continues to look to hire more.
“These are good paying jobs. And we're proud that we're able to do that here in the Valley,” Niedbala said. “We find the Lehigh Valley has a great pool of people, both at professional levels, whether that's engineers or scientists, and then people who will work on the production floor.”
Continental Cup, a maker of disposable cups and lids for movie theaters, convenience stores, and other food service establishments, received a $210,000 PIDA loan. The loan reimbursed the Bethlehem company for half the cost of purchasing new machinery and related equipment.
“It's a great low interest loan, especially in this high interest environment. And the terms are favorable,” said Rick Timone, President of Continental Cup.
He said LVEDC’s assistance was invaluable as Weighknecht guided Continental Cup through the process.
“If not for Jennifer, I would have given up,” Timone said.
Continental Cup opened its manufacturing facility in Bethlehem in 2019. It also had looked at locating in New Jersey, Timone said, but chose Pennsylvania. It got a grant from the state in addition to the PIDA loan.
Other Lehigh Valley businesses that have obtained financing recently with LVEDC’s assistance include:
Green Leaf Productions, an Emmy-winning studio that produces television shows, documentaries, commercials, reels, and movies for major networks and employers, received a $945,000 PIDA loan. The loan covered 45% of the purchase cost for a building in Hanover Township, Northampton County, to more than double the studio’s square footage.
Brewer Farms, an operation on about 422 acres in Lower Mount Bethel Township, received a $350,000 PIDA loan that provided about half the cost to purchase farmland for an expansion of its dairy operations. The expansion will support the growth of crops including corn, soybeans, wheat, barley, rye, and hay for the farm’s large dairy herd.
Lehigh Valley Apparel Creations and 151 Chestnut LLC was recently approved for a PIDA loan of $308,250 for the purchase and renovation of a manufacturing facility in Bath. The purchase will allow Lehigh Valley Apparel Creations, which does screen printing on shirts, hats, tote bags, and other branded merchandise, to expand.
More information about development incentives and financing can be found on LVEDC’s website.