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Economic Development > Expand > Loan Program Matrix > First Industries Fund

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Business Financing

First Industries Fund

CREDC provides funding through the First Industries Fund to eligible projects located in Cumberland , Dauphin and Perry Counties. FIRST INDUSTRIES FUND is the program for Pennsylvania's two largest industry segments, agriculture and tourism. This program provides low interest rate financing for farms and owners of tourism-related businesses to help them with the purchase of assets or capitalization needs. Agriculture and tourism are responsible for the livelihood of thousands of Pennsylvania families. Pennsylvania's new economic development initiatives recognize that these two segments are critical contributors to the Commonwealth's economy and to the regional economy.

Applications for funding through the First Industries Fund for eligible projects in this three county area may be submitted through CREDC. For assistance with First Industry Funding for projects located elsewhere in Pennsylvania, contact the PA Department of Community and Economic Development at (866) 466-3972.

Eligible Businesses

Agriculture

  • Agricultural production
  • Agribusiness
  • Wholesale of farm commodities
  • Farmers' markets
  • Rural & urban supermarkets
  • Energy related activities
  • Best management practices for waste, fertilizer, etc.

Tourism

  • Destination sites: historic, heritage, cultural, sporting, amusement, nature, and outdoor recreational
  • Establishments
  • Hospitality establishmens in close proximity to a destination site
  • Businesses that develop and market travel packages
  • Tourism related activities or events that promote overnight visits in Pennsylvania

Eligible Uses

  • Land acquisition and related costs
  • Building acquisition, construction, rehabilitation, and related
    costs.
  • Machinery and Equipment
  • Working capital

Amounts

  • $200,000 or 50% of total project cost, whichever is less
  • $100,000 or 50% for working capital, whichever is less

Terms

  • 4.25% interest rate
  • Up to 15 year term for real estate
  • Up to 10 year term for machinery & equipment
  • Up to 3 years for working capital
  • For tourism projects, one job created or retained for every $25,000 borrowed

Fees

  • $500 application fee
  • 1.50% 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

PA