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Loan Amount

Eligible Businesses

Interest Rate

Term & Uses

Job Requirement

SBA 504 Loan

Maximum of
$1,500,000;
$2,000,000
for public policy goals;
$4,000,000
for manufacturers

-For profit businesses

-Net worth < $8.5 million

-Net income < $3.5 million

Trends
with US Treasury
Notes

Rate is
fixed for
the term

-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% - 50% of
eligible costs,
depending on
location & co.
size

Maximum of
$2,000,000

($2,250,000

for EZ, KOZ,
Brownfields)

-Manufacturing/Industrial

-Research & development

-Computer Op Centers

-National/Regional headquarters

3.75- 4.75%
fixed for
the term

-Construction

-Renovation

-15 year term

At least 1 job retained or created for every $35,000 borrowed

Small Business First

(SBF)

50% of
eligible costs

Maximum of
$200,000 for
fixed assets

Maximum of
$100,000 for
working capital

-Agricultural/Tourism

-Manufacturing/Industrial

-Hospitality

-Recycling

-Software & network development

-Child day care

-Construction enterprise

-Research & development

4.75%
fixed for
the term

-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

Enterprise Zone Loan

(EZLF)

30% of
eligible costs

Maximum of
$500,000

-Located in or moving to Tech Corridor or Perry County Enterprise Zones

-Manufacturing

-Industrial

-Technology

3.75%

to

4.75%

fixed
for
the term

-Up to 10 years for machinery & equipment

At least 1 job retained or created for every $30,000 borrowed

Machinery & Equipment Loan Fund

(MELF)

Up to 50% of
eligible project
costs

Maximum of
$5,000,000

-Manufacturing/Industrial

-Production Agriculture

-Information Technology

-Bio-Tech

4.25%
fixed for
the term

-Machinery & Equipment Acquisition

-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
eligible costs

Maximum of
$100,000

-Business-to-Public Service

-Mercantile

-Commercial

-Point of Sale Retail

2.00%
fixed for
the term

-Land/Building

-Machinery & Equipment

-Working Capital

-Terms vary

Must at least retain jobs in place at time of application, other requirements may apply

Minority Business Development Fund Loan

(MBDF)

Up to 75% of
eligible costs

-Almost any business owned 51% or more by a person in the ethnic or racial minority

-Excludes restaurants and some other types of businesses

Rate at the discretion of CREDC

-Land/Building

-Machinery & Equipment

-Working Capital

-Terms vary

PA Economic Development Finance Authority Loan

(PEDFA)

Between
$400,000 and
$10,000,000
depending on
business type

-All businesses qualified to do business in Pennsylvania may be eligible for taxable financing.

-Tax exempt available to certain businesses

**All Businesses seeking PEDFA bond financing, whether tax-exempt or taxable, must be supported by a Bank Letter of Credit. The Bank determines the collateral, terms and conditions of its Letter of Credit.

Rate
according
to bond sale
historically
have been
below market

-Land/Building

-Machinery & Equipment

-Working Capital (Taxable only)

-Refinancing (Taxable only)

According to discretion of PEDFA