Working Capital Programs
LVEDC administers many federal, state, and local financing programs to assist your business. Our role is to help businesses find the best program and then assist them through the process as quickly and expertly as possible. We are experts in bringing these resources together to maximize the benefit to you. Our staff will provide you with detailed information on the business loan programs that are applicable and will work directly with you to develop the most beneficial incentive package available.
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)
- Pennsylvania Minority Business Development Authority (PMBDA)
Type of Business:
Manufacturing, industrial, agricultural, research and development, hospitality, recycling, computer-related service, new-construction contractors, child day-care and most minority-owned and operated businesses.
Eligible Projects:
Capital needs of small business for operations, including personnel and training costs.
Loan Limit:
50 to 75 percent of eligible project costs. Maximum = $100,000.
Interest Rate:
Between 3 and 5.5 percent via Commonwealth programs.
Term:
Three years.
Job Requirement:
Create/retain one job per $15,000 to $25,000.
Other:
Subordinate lien position is possible, 25 to 50 percent private match.
