PA Catalyst Loan Fund
PROGRAM INFORMATION:
- Financing for real estate, leasehold improvements, equipment and working capital
- The program accepts subordinate lien positions which accommodate other financing
- Below market, fixed rate business term loans
- Flexible underwriting standards focused on repayment ability and borrower history
- Requires private lenders such as banks to be part of the project funding (1:1 Match)
- Amortization periods based on use of proceeds with a three-to-five-year balloon payments
- Program focused on providing capital to disadvantaged borrowers and businesses in CDFI-designated areas (City of Reading) but available throughout Berks County.
PROGRAM REQUIREMENTS:
- Historic business financial data for existing businesses and/or business plans for new and expanding businesses
- Historic personal financial and credit data for owners
- Ownership required to personally guarantee the loans
- For each dollar funded by the program, at least one dollar must be lent from a non-governmental source
CONTACT US:
Contact Chris McHenry – VP, Development Finance at 610.321.8239 or Bob Glendenning – Development Finance Consultanta at 484.458-3318.
PA Industrial Development Authority (PIDA) Loan
PIDA provides low-interest loans for a variety of business purposes including land, building, and construction/renovation costs; machinery and equipment purchases; multi-tenant facility projects; and industrial park projects. Businesses from many different industries are eligible for PIDA financing. CCEDC is proud to be a state-certified Certified Economic Development Organization (CEDO) which partners with the Commonwealth to offer the PIDA program to local businesses.
PA Small Business Credit Initiative (PSBCI)
PSBCI is a Seedcopa revolving loan fund designed to help small businesses on projects that may not meet the requirements of other programs. Although business may not use funds to refinance existing debt, this flexible program can be used for most businesses expenses.
PSBCI was established through the Small Business Credit Initiative Act of 2010, the United States Department of the Treasury, and Pennsylvania’s Department of Community and Economic Development (DCED).
Learn MoreBuilding PA Loan Program
If you want to develop real estate in low-income communities, revitalize central business districts, or redevelop brownfields, then consider “Building PA” to fund what you need.
Building PA is a state loan program created to fund projects in underserved communities with the goal of improving the overall economy in these areas.
Learn MorePennsylvania Incentives and Tax Credits
Pennsylvania offers a variety of tax incentives, credits and programs to eligible Pennsylvania residents and businesses. These tax credits, economic development programs refund/rebate opportunities and incentive programs provide economic assistance and tax reductions to individual and business taxpayers.
Learn More