Programs are available to help secure low interest loans for the purpose of land and building acquisition, expansion or renovation of present property or facility, new construction and infrastructure.

Pennsylvania Industrial Development Authority (PIDA)

  • Funds are to be used for acquisition, renovation, expansion or new construction of building and land costs.
  • One full time job is to be created or retained at project site over three-year period for each $25,000 borrowed.
  • Job creation for industrial and agribusiness operations must total 25 jobs at project site within three years.
  • National/regional headquarters and computer/clerical operations centers must total 125 jobs at site within three-year period.
  • Maximum term for loan is 15 years. PIDA may consider a second lien position provided adequate collateral and good company equity is present.
  • Current interest rate is 4 1/4%.
    • PIDA loans are available for multi-occupancy loans and industrial parks. These are made directly to the industrial development corporation.

    Small Business First(SBF)

  • Low interest financing is provided for land and building acquisition and construction.
  • Maximum loan amount is $200,000 or 50% of total project cost whichever is less.
  • Any project except mercantile, commercial or retail operations and personal /professional services is eligible (EGC can best answer eligibility).
  • One full time job must be created or retained within three years from completion of project for each $25,000 borrowed.
  • Real estate term is 10 years.
  • Current interest rate is 5%.
    • Pennsylvania Economic Development Financing Authority (PEDFA)

    PEDFA is a statewide conduit issuer of taxable and tax-exempt Revenue Bonds. Land and building acquisition, building renovation and new construction are eligible uses. Rate of interest is based on percentage of prime interest rate. Job criteria and limitations of loan amount are different for taxable and tax-exempt projects. Fees are assessed and a Bank letter of Credit will be required. These bonds are issued in pooled and stand- alone transactions.