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Loan Program Matrix
| Program |
Loan Amount |
Eligible Businesses |
Interest Rate |
Term & Uses |
Job Requirement |
| Up to 40% of eligible costs
Maximum of |
-For profit businesses
-Net worth < $8.5 million
-Net income < $3.5 million
|
Trends
Rate is |
-Real estate -Other fixed assets
-20 years or 10 years
|
At least 1 job retained or created for every $50,000 borrowed ($100,000 for manufacturers) |
|
|
Pennsylvania Industrial Development Authority
(PIDA) |
30% - 70% of
Maximum of ($2,250,000
|
-Manufacturing/Industrial
-Research & development
-Computer Op Centers
-National/Regional headquarters -Some multi-tenant projects
|
3%- 4% |
-Land/building acquisition -Construction
-Renovation
-15 year term |
At least 1 job retained or created for every $35,000 borrowed |
|
(SBF)
|
Up to 50% of
Maximum of
Maximum of |
-Agricultural/Tourism
-Manufacturing/Industrial
-Hospitality -Recycling -Software & network development
-Child day care
-Construction enterprise
-Research & development
|
SBF- 4%
SBF First Industries 5%
|
-Up to 15 years for real estate -Up to 10 years for machinery & equipment -Up to 3 years for working capital
|
At least 1 job retained or created for every $25,000 borrowed |
|
(EZLF) |
Up to 30% of
Maximum of
|
-Located in or moving to Tech Corridor or Perry County Enterprise Zones
-Manufacturing
-Industrial
-Technology
|
3.75% to 4.75% fixed |
-Up to 15 years for real estate -Up to 10 years for machinery & equipment |
At least 1 job retained or created for every $30,000 borrowed |
|
Minority Business Development Fund Loan (MBDF) |
Up to 75% of
Mimimum of 10% equity injection required |
-Businesses owned by socially or economically disadvantaged residents of PA such as African Americans, Hispanic Americans, Asian Americans, or Native Americans |
Determined by CREDC |
-Up to 15 years for real estate
-Up to 10 years for machinery & equipment
-Up to 3 years for working capital
|
At least 1 job retained or created for every $15,000 borrowed |
|
Machinery & Equipment Loan Fund (MELF)
|
Up to 50% of
Maximum of |
-Manufacturing/Industrial -Production Agriculture -Information Technology -Bio-Tech
|
MELF- 4%
MELF First Industries 5% |
-Machinery & Equipment Acquisition -Installation -Delivery
-Up to 10 years
|
At least 1 job retained or created for every $25,000 borrowed |
|
Community Economic Development Loan
(CED) |
Up to 50% of
Maximum of |
-Business-to-Public Service
-Mercantile
-Commercial
-Point of Sale Retail
-Must be located in eligible municipality |
2.00% |
-Land/Building
-Machinery & Equipment
-Working Capital
-Terms vary |
Must at least retain jobs in place at time of application, other requirements may apply |
|
Loan Program Matrix as of 7/23/2010 |
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