Rural Development Loan Program

Funding Details: Type of Business Eligible businesses include most operating-for-profit businesses except hotels, motels, tourist homes, convention centers or any other tourist or recreation center. Loan Amount Up to 50% of the eligible project cost, not to exceed $250,000, depending on availability of funds. Repayment Terms Real estate-up to 15 years Machinery and equipment-up to...

Funding Details:

Type of Business	Eligible businesses include most operating-for-profit businesses except hotels, motels, tourist homes, convention centers or any other tourist or recreation center.
Loan Amount	Up to 50% of the eligible project cost, not to exceed $250,000, depending on availability of funds.
Repayment Terms	Real estate-up to 15 years Machinery and equipment-up to 7 years
Use of Loan Proceeds	Land and building acquisition Building construction or renovation Machinery and equipment Working capital
Jobs	One permanent job must be created per $50,000 NEPA dollars loaned within 3 years from the loan closing date.
*Additional Info	The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne.