Pennsylvania Industrial Development Authority (PIDA) Loans
For a limited time only, the Pennsylvania Industrial Development Authority (PIDA) is offering qualifying businesses loans at a 2% interest rate, fixed for the full term of the loan. Three months ago PIDA also announced the lending cap for machinery and equipment loans funded by its Machinery Equipment Loan Fund (MELF) program and has increased the lending cap from $400K to $1.5M. Industrial, biotechnology, and computer-related service enterprises are also eligible. The new interest rate will last until January 1, 2018 or until certain lending thresholds are met. View additional information HERE.
Small Business Advantage Grant Program
Applications are being accepted for the Small Business Advantage Grant Program, which helps small businesses purchase energy efficient or pollution prevention equipment or adopt waste reduction processes. Pennsylvania-based small businesses with less than 100 employees are eligible. Businesses are able to receive a 50% reimbursement match on new equipment or processes which save a minimum of $500 and reduce their energy or waste by 25% per year. Expires June 30, 2018 or until funds are exhausted. View details HERE.