Pennsylvania Industrial Development Authority (PIDA) - Offers low interest loan financing through Industrial Development Corporations for land and building acquisition, construction and renovation resulting in the creation or retention of jobs.

Eligibility:

JOB CREATION - Manufacturing, Industrial, Research & Development, Agricultural Processors, Firms establishing a National or Regional headquarters.

JOB RETENTION - Manufacturing firms that meet certain quality standards and wage thresholds in county of site location.

Eligible Uses: Land and Building - acquisition, construction & renovation.

Interest Rates:  3.75% to 6.75%, depending on the site location.

Amounts: $1,250,000 to $1,750,000 in targeted zones(enterprise zones, Act 47 Communities, brownfield sites, Keystone opportunity zones.)

Machinery and Equipment Loan Fund (MELF) - Provides low-interest rate loan financing to acquire and install new or used machinery and equipment or to upgrade existing machinery and equipment.

Eligibility: Manufacturing, industrial, agricultural enterprise, mining enterprise.

Eligible Uses: Machinery and Equipment, new or used equipment purchases, upgrading and related engineering and installation cost.

Interest Rates: 3.75% to 6.75%, depending on the site location.

Amounts: Maximum of $500,000.00 or 1/2 of the total eligible project cost.

Small Business First - Provides funding for small businesses. 

Eligibility:  Small businesses (100 employees or less) which are: Agricultural, industrial, manufacturing, export service enterprise, mining enterprises, certain hotels, motels and restaurants.

Eligible Uses: Land and building acquisition and construction, machinery and equipment, working capital, financing to comply with environmental regulation, compliance with municipal or commercial recycling and finance for defense conversion.

Interest Rates: 5%

Amounts: $200,000 or 50% of total eligible project cost.

Mon Valley Loan Fund - MIDA administers a loan fund for use by manufacturing and industrial companies located in the Mon Valley region.

Eligibility: Land, building, machinery and equipment, and working capital.

How to Apply: Contact Lue Ann Pawlick, Executive Director of MIDA at (724)379-5600 or print attached APPLICATION and mail to:

MIDA
P.O.
Box 491
Donora, PA 15033

Terms and Conditions: Maximum loan of $40,000 or 1/2 of total eligible project cost loaned at 1/2 of Prime Rate. Loans are repaid in 66 months (first 6 months are interest only payments).