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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

PIDA

SBF

MELF

PEDFA

SBA 504

     2.25%              1.75%    1.75%     Below
    Market
    Market (or

slightly below) 

Term

15 yrs. 10 yrs. equipment
15 yrs. land/buildings
10 yrs. Up to
30 yrs.
10 yrs. equipment
20 yrs. land/buildings

$

$2,000,000* $200,000 $500,000* $10,000,000** $2,000,000*

%

50% to 70%  50% 50% 100% 40%


* Exceptions for larger amount
**TAXABLE-TAX EXEMPT BONDS

Pennsylvania Industrial Development Authority (PIDA)  For manufacturing or industrial enterprises. Use funds to acquire land, new construction, or renovation. Must create or retain one new job for each $35,000 lent. Not for commercial, retail or speculative investments.

Small Business First Fund (SBF)  For small businesses (less than 100 employees); manufacturing, industrial, high tech. Hotels and restaurants may qualify. Use funds for hard assets and working capital. Not for commercial or not-for-profit entities. Must create or retain one new job for every $25,000 lent.

Machinery and Equipment Loan Fund (MELF)  For larger manufacturing, industrial and agriculture processing. Use funds for machinery and equipment or upgrade existing. Not for service, retail or commercial operations. Must create or retain one new job for each $25,000 lent.

Pennsylvania Economic Development Financing Authority (PEDFA)  For financing strong companies. 100% financing available. Use funds for hard assets, working capital, or refinancing. Must create one new job for every $50,000 lent.

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 $50,000 lent.  We access this program through a cooperative relationship with a regional economic development organization.

Information about these financing programs is current as of 3/1/2014. 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.