Pennsylvania

Expand - Create - Attract

Join Now

PPL Electric
Economic Development > Expand > Loan Program Matrix > PIDA

Attention, open in a new window. PDFPrintE-mail

Business Financing

PIDA

CREDC provides PIDA loans to eligible projects located in Cumberland, Dauphin and Perry Counties.  PIDA loans provide low-interest financing for a percentage of eligible commercial real estate projects.  Applications for PIDA eligible projects in this three county area must be submitted through CREDC.

For assistance with PIDA financing for projects located elsewhere in Pennsylvania, contact the PA Department of Community and Economic Development at (866) 466-3972 .

Eligible Projects

  • Manufacturing
  • Industrial
  • Agri-business
  • Research and development facilities
  • Office buildings used as national or regional headquarters
  • Computer/clerical operation centers
  • Multi-tenant projects

Eligible Uses

  • Land acquisition and related costs
  • Building acquisition, construction, rehabilitation, and related costs

Amounts

  • $2,000,000 or 30% - 40% of total project cost, dependent upon firm
    size and unemployment rate of area where located
  • $2,250,000 or 30% - 40% for projects located in Enterprise Zones,
    ACT 47 municipalities, Brownfield Sites, and Keystone Opportunity Zones

Terms

  • 3- 4% interest rate fixed for the term
  • Up to 15 year term
  • No less than a 2nd mortgage on the property financed
  • One job retained/created for every $35,000 borrowed

Fees

  • $500 application fee
  • 1.50% closing fee to CREDC
  • 1.00% commitment fee to PIDA
  • Borrower is responsible for document preparation fees

If you have any questions on the loan process or the loan program contact Eric Fischer at 717.213.5042 or This e-mail address is being protected from spambots, you need JavaScript enabled to view it PA