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Middle Monongahela Industrial Development Association, Inc. |
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Middle Monongahela Industrial Development Association, Inc. |
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BOND FINANCING
Pennsylvania Economic Development Financing Authority (PEDFA) - Serves as an issuer of tax-exempt and taxable bonds, both in pooled transactions and stand-alone transitions. Bond funds are loaned to businesses and can be used to finance land, building, equipment, working capital and refinancing.
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PEDFA Bond Financing TAX-EXEMPT
Eligibility: Manufacturing, Nonprofit, Energy, Solid Waste Disposal, Transportation Facilities
Eligibility Uses:
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Land and building - acquisition, construction & renovation |
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Machinery & equipment - purchases/installation |
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Designated Infrastructure |
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Tax-exempt bond refunding |
Amounts:
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Loans no less than $400,000 and no more than $10,000,000 for manufacturers |
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No upper limit for other projects |
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Up to 100% of project cost |
Terms and Conditions:
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85% of prime interest rate |
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Weekly variable interest rate tied to market for tax-exempt bonds |
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Up to 30 year term |
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Borrower must secure letter of credit from bank |
PEDFA Bond Financing TAXABLE
Eligibility:
All types of businesses needing access to low-cost capital
Eligibility Uses:
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Land and building - acquisition, construction & renovation |
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Machinery & equipment - purchases/installation |
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Designated Infrastructure |
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Refinancing |
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Working Capital |
Amounts: Loans no less than $400,000, up to 100% project cost.
Terms and Conditions: 95% to 100% of prime interest rate - weekly variable interst rate tied to market.
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Term based on negotiated letter of credit |
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Borrower must secure letter of credit from bank |
