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The RDFC plans to utilize the various loan programs of other lenders directly as project financing partners and indirectly as part of our referral or “clearinghouse” service for guiding potentially eligible candidates to the appropriate public/private assistance resources available in the region. Provided below are examples of such resources in our targeted area:
Governor’s Action Team
• The Commonwealth of Pennsylvania offers many financial assistance programs that are designed to assist existing businesses as they expand in Pennsylvania, and also to facilitate new business growth and development.
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Pennsylvania Capital Access Program (PennCap)
• Loan guarantee through participating banks to be used to support a wide variety of business purposes.
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Pennsylvania Industrial Development Authority (PIDA)
• Low interest financing through Industrial Development Corporations for land and building acquisition, construction and renovation, resulting in the creation or retention of jobs.
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Machinery and Equipment Loan Fund (MELF)
• Low interest loan financing to acquire and install new or used machinery and equipment or to upgrade existing machinery.
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Small Business First (SBF)
• Funding for small business, including low interest loan financing for land and building acquisition and construction; machinery and equipment purchases and working capital.
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Export Finance Program (EFP)
• Working Capital and Accounts Receivable financing in amounts of up to $350,000 for beginning or expanding small business.
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Pennsylvania Minority Business Development Authority (PMBDA
• Low interest loan financing to businesses owned and operated by ethnic minorities.
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