The Pennsylvania Industrial Development Authority has approved a loan for a Carbon County company.

BTM, Inc., through the Northeastern Pennsylvania Alliance, was approved for a 10-year, $200,000 loan at a 5.00 percent fixed interest rate to purchase a computer-numerical-controlled metal lathe for its production facility at 1210 W. 12th St. in Jim Thorpe.

This lathe will replace an outdated machine and make it easier for the company to meet customers’ demand. As part of this project, BTM Inc. will retain 22 existing positions.

The total project cost is $450,000.

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs, as well as for the development of industrial parks and multi-tenant facilities. Loans can be used for: land and building acquisitions; construction and renovation costs; machinery and equipment purchases; working capital and accounts receivable lines of credits; multi-tenant facility projects; and industrial park projects.