The time to finance your business expansion is right now. Currently our business loan programs start at low interest for 15 years FIXED.
Financing fuels business growth. Whether you’re relocating to Lehigh Valley or already here, LVEDC administers more than one dozen financing programs that fund construction, land, equipment, working capital, workforce training and sustainable development projects.
The Pennsylvania Department of Community and Economic Development (DCED) have reduced their interest rates, some to the lowest points in history. These loan programs, that finance everything from Land and Building Acquisition, Building Construction & Renovation for Manufacturing, Real Estate & Machinery & Equipment to Working Capital, are lowering their effective interest rates.
To make things even better the State is waiving their fees associated with the programs (certain fess will still apply) making the cost of financing available through the Pennsylvania Department of Community Economic Development the lowest it’s ever been.
This is an opportunity you can’t pass up.
We are offering loan programs with a FIXED interest rate for:
Pennsylvania recently reset prevailing interest rates to the second lowest points in their history. The Pennsylvania Industrial Development Authority (PIDA) program, which finances real estate acquisition, construction and renovation for manufacturers and industrial companies (the program can also be used for warehouse distribution and large- office real estate projects) is now priced at 1.5 percent for 15 years and can finance up to 60 percent of a total project cost to a maximum loan amount of $2 million or more in selected areas.
The Small Business Administration’s 504 program can finance up to 40 percent of your fixed-asset project costs up to $5 million. Our FIXED RATE FOR THE DURATION OF THE LOAN is 3.5 percent for 10 years and 4.2 percent for 20 years.
Our premier Commonwealth-based small business financing vehicle, the Small Business First (SBF) program rate as of August 2012 is 1.5 percent. This program can finance up to 50 percent of a total project cost to a maximum of $200,000 for real estate, machinery and equipment and working-capital related projects. Terms on the SBF program can be up to 15 years.
The tax exempt financing, available to manufacturers through a local Industrial Development Authority can lower conventional bank financing rates to below 3 percent.
Whether your business is just starting up or an established multi-million dollar corporation, LVEDC will find a financing program to help you expand your business. Our financing experts work closely with you to find a program that matches your business’ strategic goals.