Getting involved in the LVEDCgives you an involvement in our business community. LVEDC investors work with us to build a strong regional economy by marketing the Lehigh Valley to attract more companies and promote the companies already here. As an LVEDC investor, you’ll make valuable connections with other companies while raising your visibility throughout the community. Contact us to learn more.
Brewing the American Dream Program from Samuel Adams Brewing for small business owners in the food and beverage industry.
Contact us to find out more about the programs below.
Small Business First provides low-interest loans to small businesses of 100 employees or less for land and building acquisition, construction, and machinery and equipment purchases. It also provides working capital for a for-profit project or venture by any small business enterprise, unless the project or venture relates to mercantile, commercial, retail operations or personal professional services. The program also provides financing for (1) small businesses that need to come into compliance with environmental regulations or that are involved in municipal or commercial recycling; (2) small businesses that are impacted by defense conversion; and (3) certain small businesses such as restaurants, hotels and motels. Maximum loan amount is $200,000. Interest rate is 3 percent. Companies must agree to create or preserve jobs as a condition of financing.
This program is to be used to assist Pennsylvania’s agricultural production enterprises to expand and modernize. This program is designed to assist a person or a for-profit business entity that has no more than 100 employees and is involved in the management and use of a normal agricultural operation for the production of a farm commodity. Projects must involve agricultural operations of at least 10 contiguous acres in size or with an anticipated yearly gross income of at least $10,000. The low-interest (3 percent) loan can be used for land, building, machinery, equipment and working capital. Maximum loan amount is $200,000 and there is no job requirement.
The Small Business First Community Economic Development Loans (CED), authorized by Act 100 of 1998, are intended to enhance the Project for Community Building by authorizing loans for small businesses (100 or fewer employees) in areas that are eligible for Community Development Financial Institution (CDFI) coverage. These loan funds are available for eligible small businesses at a low interest rate of 2 percent with flexible repayment terms. Area loan organizations, CDFIs and other locally based organizations designated by the Secretary will be able to access funds within this loan pool on behalf of their clients. Maximum loan amount is $200,000 or 50 percent of the total eligible projects cost, whichever is less. CED loans will be fixed at an annual interest rate of 2 percent.
The Pollution Prevention Assistance Account is a loan program administered by the Pennsylvania Department of Environmental Protection (DEP) and the Pennsylvania Department of Community and Economic Development (DCED) that helps Pennsylvania small businesses implement pollution prevention and energy-efficiency projects. DEP and DCED will award up to $2 million annually to businesses implementing pollution prevention and energy-efficient technologies. Businesses may borrow up to $50,000, but not more than 75 percent of the total eligible project costs. Loan terms will not exceed seven years, and annual interest rates will remain at 2 percent..
|SBA 504||5.07% (20 years)||7/3/14|