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Enhanced Capital Announces the First Deal of Its Pennsylvania Rural Fund

October 6, 2021

Enhanced Capital is proud to participate in an innovative state program to provide rural small businesses in Pennsylvania, such as Sharpsville Container Corporation (SCC), with access to capital. Since its opening in 1860, SCC has remained a valuable business within the Sharpsville, PA, community. The Company is a process equipment manufacturer that offers integrated engineering solutions primarily focused on fluid and gas handling containment.

SCC is the first company to receive a debt investment through Enhanced Capital's participation in Pennsylvania's Rural Jobs and Investment Tax Credit program, which was established by the Commonwealth of Pennsylvania to stimulate investment into rural communities. Enhanced Capital’s Pennsylvania Rural Fund has been approved as a participant to provide up to $12.5 million in loans to eligible small businesses in Pennsylvania.

SCC serves customers throughout the world in the food, dairy, industrial, chemical, pharmaceutical, high pressured gas, renewable fuels, and beverage industries. The Company offers a full range of stainless steel storage tanks, UN/DOT (United Nations and U.S. Department of Transportation) transport vessels, gas cylinders, fermenters and reactors. Proceeds of the financing were used by SCC for a new roof on its facility, equipment upgrades, and working capital.

"With this investment, we look forward to completing the new projects we've identified to provide not only stability to the company but job growth for the community," said Michael P. Lewis, President and CEO at SCC.

For more than 20 years, Enhanced Capital has worked with public policymakers and private sector investors to invest capital in the places that are most in need. Our partnership with Pennsylvania and SCC is another meaningful step in our effort to achieve this mission.

More information about Enahnced Capital's Pennsylvania Rural Fund program.

More information about Sharpsville Container Corporation.