Business Financing
Enterprise Zone Loan
CREDC provides Enterprise Zone Loans to eligible projects located in eligible zones in Cumberland, Dauphin and Perry Counties. THE ENTERPRISE ZONE LOAN FUND is designed to stimulate the expansion of businesses based in or relocating to the Harrisburg Regional Technology Corridor Enterprise Zone or the Perry County Enterprise Zone. The Enterprise Zone Loan Fund provides low-interest rate financing for a portion of the costs of construction, land, building, building improvements, machinery and equipment, or working capital. In most cases, a 10% equity contribution by the borrower will be required.Applications for eligible Enterprise Zone loan projects in this three county area may be submitted through CREDC. For assistance with Enterprise Zone Loans for projects located elsewhere in Pennsylvania, contact the PA Department of Community and Economic Development at (866) 466-3972.
Eligible Businesses
- Located in or moving to the designated Enterprise Zones:
- Harrisburg Regional Technology Corridor Enterprise Zone
- Perry County Enterprise Zone
- Technology related
- Manufacturing
- Industrial
- Wage levels must be substantially above minimum wage
Eligible Uses
- Land acquisition and related costs
- Building acquisition, construction, rehabilitation, and related costs
- Machinery and equipment
Amount
- $500,000 or 30% of total project cost, whichever is less
Terms
- 3.00% - 4.00% interest rate
- Up to 15 years for real estate
- Up to 7 years for machinery & equipment
- One job created or retained for every $30,000 borrowed
Fees
- $250 application fee
- 1.75% commitment fee
- $900 document preparation fees
If you have any questions on the loan process or the loan program contact Melissa McLaughlin at 717.213.5042 or This e-mail address is being protected from spambots, you need JavaScript enabled to view it
