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Financing Assistance
- Match public sources of low cost financing with cost effective private sources to provide comprehensive financing inclusive of all project costs.
- The CDC builds relationships with your bank to develop a financing structure tailored to the business model of the client.
- We work with clients who need as little as $10,000 in entrepreneurial start-up money or those projects tagged in millions of dollars of total project costs.
- Since 2005, the CDC actively participated in financing projects in excess of $235,000,000.
PRODUCTS
- Pennsylvania’s financing opportunities are as diverse as the business community they are designed to support. Our experienced staff can quickly match program to need, saving clients time and frustration. If you want to review financing available in Pennsylvania before you talk to the CDC staff, visit www.newpa.com.
- In addition to full spectrum knowledge of the application of Pennsylvania’s financing programs; the CDC manages a portfolio of funds that support the staged growth of any business. Approval to closing of a complete application generally takes 60 days.
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Growth Initiative Loan Fund (pdf) is designed to accelerate an entrepreneur to the next level of success.
- Maximum $25,000 or 100% of project costs
- Loan term and interest rate based on collateral – maximum term is 60 months, maximum rate is prime plus 3%
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CDC Revolving Loan Fund (pdf) is a participating, microloan for companies with less than 50 employees.
- Maximum $50,000 or 50% of project costs
- Loan term and interest rate based on collateral – maximum term is 84 months, maximum rate is prime plus 2%
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USDA IRP Loan Fund (pdf) is designed to alleviate poverty by job creation/retention in rural areas.
- Maximum $150,000 or 40% of project costs
- Loan term and interest rate based on collateral and use of proceeds – maximum term is 120 months, maximum rate is prime plus 1%
- Real estate secured loans considered at prime minus 1%
For more information, contact Carol Howryla
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