LVEDC offers loan programs with a fixed interest rate for various business needs, including:
- Land and building acquisition
- Building construction and renovation for manufacturing, industrial and other eligible companies.
- Acquisition, construction and/or renovation of real estate
- Acquisition of new or used machinery and equipment
- Small business pollution prevention enhancements
A Sampling of LVEDC’s Low Interest Loan Programs
The Pennsylvania Industrial Development Authority Program (PIDA) – Up to 15 years, FIXED.
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 (SBA 504) – Up to 10/20 years.
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.
The Small Business First Program (SBF) – Up to 15 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.
Tax Exempt Financing
The tax exempt financing, available to manufacturers through a local Industrial Development Authority can lower conventional bank financing rates to below 3 percent.
The best place to obtain your business financing is LVEDC.
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.