ARC Loan Program

ELIGIBILITY Type of BusinessEligible businesses include most operating-for-profit businesses (individual proprietorships, partnerships or corporations). Emphasis is placed on manufacturing and industrial businesses. Maximum Loan Amount$200,000 or 50% of a project, whichever is less. Working capital loans are limited to $100,000. Use of Loan ProceedsLand and building acquisitionBuilding construction or renovationMachinery and equipmentWorking capital LOAN PROGRAM...

ELIGIBILITY

Type of Business
Eligible businesses include most operating-for-profit businesses (individual proprietorships, partnerships or corporations). Emphasis is placed on manufacturing and industrial businesses.
Maximum Loan Amount
$200,000 or 50% of a project, whichever is less. Working capital loans are limited to $100,000.
Use of Loan Proceeds
Land and building acquisition
Building construction or renovation
Machinery and equipment
Working capital

LOAN PROGRAM FEATURES

Interest Rate
The current interest rate is fixed at 1% for the term of the loan.
Repayment Terms
Real estate-up to 15 years
Machinery and equipment-up to 7 years
Working capital up to 3 years

LOAN PROGRAM REQUIREMENTS

Job Requirements
One permanent job must be created or retained per $50,000 NEPA dollars loaned within 3 years from the loan closing date.
Location
The business must be located within the seven Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne.