Machinery & Equipment Programs
LVEDC administers many different federal, state, and local financing programs, part of what we do is identify the appropriate business 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:
- John Kingsley at 610-266-0887 – gro.yellavhgihelnull@yelsgnikj
- Judy Yanega at 610-266-6622 – gro.yellavhgihelnull@agenayj
- Mary Edwards at 610-266-6851 – gro.yellavhgihelnull@sdrawdem
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.
Interest Rate:
As low as 3 percent via Pennsylvania programs. SBA is 4.25 percent
Some programs are at Market Rate.
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.
