MOUNT HOLLY — A Burlington County dance studio has become the latest business to receive an interest-free loan from Burlington County to help them recover from the pandemic.
Burlington County Commissioners approved a $28,000 interest-free loan to Dana Ampy and her Amped to Dance studio in Maple Shade. The loan is expected to help the studio continue operations and retain two full-time employees and four part-time instructors.
The loan comes from the Burlington County Health Emergency Loan Program, also known as HELP. The program was established by the commissioners in 2020 to help local businesses during the health crisis.
Located on North Forklanding Road, Amped to Dance specializes in dance training for children, teens and adults and includes classes in ballet, jazz, tap, hip-hop and African dance. The studio opened in March 2020 and has managed to continue operations despite the impacts of the pandemic.
“Since the start of the pandemic, our council has done everything possible to support both the residents of our county and our businesses, and we continue to do so,” Superintendent Dan O’Connell said. “This dance studio is exactly the kind of business we were looking to support when we launched the HELP Loans. By providing this capital, we allow it to stay in business, retain its employees, and purchase the equipment and supplies it needs to protect its students and staff.
Burlington County Commissioner Felicia Hopson said county loans have helped established businesses and new ones meet the challenges of the pandemic.
“Small businesses are incredibly important to our economy and our communities, and this particular loan will help a woman-owned business continue to operate and retain full-time and part-time employees,” Hopson said. “Providing this interest-free financing to local businesses has been a critical part of our county’s COVID-19 response and has helped keep businesses open that would otherwise have been forced to close or lay off workers.”
HELP loans are administered by the Burlington County Bridge Commission and the Office of Economic Development and Regional Planning, which secured the $660,000 in federal funding used for the loan program.
Up to $50,000 in interest-free financing is available to any business located in Burlington County for business-related purchases, expenses and improvements. To qualify for the loans, the borrowing company must maintain jobs for the duration of the loan and have sufficient collateral.
You can find more details about the loan program at www.bcbridges.org/covid19-resources/.
“Small businesses are essential for our department. They are our biggest providers of jobs and they provide goods and services to our residents and visitors,” O’Connell said. “We’ve made a lot of progress in helping businesses recover since the pandemic began, but we know some are still struggling, so we’re encouraging any local businesses that need help to apply immediately.”