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Lehigh Valley Economic Development Corporation

Financings

Machinery & Equipment Programs

LVEDC administers several federal and state financing programs and we help your business identify the appropriate loan programs for your project. We are experts in connecting these resources for your benefit. Our staff will provide detailed information on business loan programs and will work directly with you to develop the most favorable beneficial incentive package.

For more information please contact:
Available Programs:
  • Small Business First (SBF)
  • Machinery & Equipment Loan Fund (MELF)
  • Pennsylvania Minority Business Development Authority (PMBDA)
  • Small Business First Community Economic Development Loans (CED)
  • Small Business Administration 504 Loan Program (SBA)
  • Pennsylvania Economic Development Financing Authority (PEDFA)
  • Allentown Development Company Loan Program (ADCO)
  • Lehigh Valley Loan Program (LVLP)
Type of Business:

Manufacturing, agricultural, industrial, commercial or retail businesses and most minority-owned and operated businesses.

Eligible Projects:

Acquisition of New / Used Equipment that is directly related to core business operations.
Support equipment (computers, IT equip., telecommunications, office furniture etc.) generally not eligible.

Loan Limit:

35 to 50 percent of eligible project costs.
Minimum = $50,000. Maximum =  $5.5 million or more.

Term:

Seven to 10 years will not exceed useful life of the asset.

Job Requirement:

Create/retain one job per $15,000 to $65,000.

Other:

Subordinate lien position is possible: 10 percent equity is usually required.

LVEDC Loans & Interest Rates

Details Here

Type Rate Date
PIDA 2.5% 7/3/14
SBA 504 5.07% (20 years) 7/3/14
SBFF 3.5% 7/3/14
MELF 3.5% 7/3/14