ELIGIBILTY
- Type of business
Eligible businesses include for-profit businesses (individual proprietorships, partnerships or corporations). Emphasis is placed on manufacturing and industrial business. - Maximum Loan Amount
$200,000 or 50% of a project, whichever is less. - Use of Loan Proceeds
Land and building acquisition
Building construction and renovation
Machinery and equipment
Working capital
LOAN PROGRAM FEATURES
- Interest Rate
The current interest rate is fixed at 3.5% for the term of the loan. - Repayment Schedule
Real estate up to 15 years
Machinery and equipment up to 7 years
Working Capital up to 3 years
LOAN PROGRAM REQUIREMENTS
- Job Creation
One permanent job must be created or retained per $50,000 NEPA dollars loaned within 3 years from the loan closing date. - Location
The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne.