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Business - Contact us in Reading, Pennsylvania, for assistance with small business development and business funding supported by the public sector and private sector. Business - Contact us in Reading, Pennsylvania, for assistance with small business development and business funding supported by the public sector and private sector.
 

Program

Real

Estate

Equipment

Working Capital

 Accts. ReceivableC

Pollution

Prevention/

Energy Efficiency

SBA 504

Rate

 3%/2.25%*

             3%

       3%

          2%

    Market (or slightly below) 

Term

   15 yrs. 10 yrs./ Useful Life    12 months        10 yrs. 10 yrs. equipment
20 yrs. land/buildings

$ MAX

$2,000,000**  $400,000/$200,000 $100,000/$350,000      $100,000     $5,000,00**

% Total

     50%  

           50%

         50%

          75%

        40%


* Set for 7 yrs. then reset to a MAX of 4.25% for 8 yrs. 
**Exceptions

Pennsylvania Industrial Development Authority (PIDA) 

The PIDA program provides low-interest loans and lines of credit through the Greater Berks Development Fund (GBDF) for eligible businesses in Berks County that commit to creating and/or retaining jobs.  All loan applications for PIDA financing in Berks County must be submitted through the GBDF.  The above link provides more details on Eligible: Businesses, Costs, and Projects.    

 

Small Business Administration 504 Program (SBA 504)  For small businesses (less than 500 employees); for fixed asset financing (land, buildings, machinery, equipment). Must create one new full-time job for each $65,000 lent.  We access this program through a cooperative relationship with a regional economic development organization.

Information about these financing programs is current as of 4/1/2015. Please check with us for program changes when considering financing.

For further information about these programs, please contact:
Christopher S. Witmer

Contact us in Reading, Pennsylvania, for assistance with small business
development and business funding supported by the public sector and private sector.