Named #1 small economic development agency in Pennsylvania

Named #1 small economic development agency in Pennsylvania

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Financing Programs

Are you expanding or starting a business? Could you use financing to bridge the gap between private investment and total project costs? We may have found it for you as the Community Development Corporation of Butler County is dedicated to advancing and promoting business growth in Butler County as well as providing you the financing you need. We specialize in the financing of real estate acquisitions and construction, working capital and equipment purchases. We will customize a program to fit your project, offering low-interest rates, fixed terms and low down payments.

PROGRAMUSESAMOUNTSTERMSJOBINTEREST RATE
Small Business Administration (SBA) 504 ProgramLand, buildings, machinery and equipmentIn most cases 40% of the project or up to $5.5 millionFixed rate up to 20 yearsOne job created per $65,000Rates set monthly based on current bond pricing
USIDA IRPLoan ProgramBusiness acquisition, Purchase machinery and equipment, start-up costsMaximum of $150,000 or 40% of eligible project costMaximum term not to exceed 10 yearsOne full-time equivalent job retained or created for every $50,000 borrowedReal Estate: Prime minus 1%. Machinery/Equipment: Prime Inventory/Accts. Receivable: Prime plus 1%
Growth Initiative Loan ProgramBuilding conversion, machinery and equipment, start-up cost, working capitalMaximum of $25,000 or 100% of total project cost, whichever is lessFixed rate, 60 months for Real estate secured loan; 36 months for Machinery/equipment Secured loan; 12 months for Inventory/accounts receivable securedN/AReal estate secured – index rate plus 1% Machinery/equipment secured – index rate plus 2% Inventory/accounts receivable secured – Index rate plus 3% (Current Index Rate is 4.00%)
Pennsylvania Export Finance ProgramWorking capital, accounts receivableMaximum of $350,000Fixed rate, for a 12 month periodN/ABased on market conditions
Revolving Loan FundLand acquisition, building construction, purchase of machinery and equipment, working capitalMaximum of $50,000 or 50% of total eligible project cost, whichever is lessFixed rate, Real estate secured – 84 months, Machinery/equipment secured – 60 months, Inventory/Accounts Receivable secured – 36 monthsCreate or retain on full-time equivalent job for every $25,000 borrowedReal estate secured – index rate, Machinery/equipment secured – index rate plus 1% Inventory/accounts receivable secured – Index rate plus 2% (Current Index Rate is 4.00%)
Community Economic Development (CED)Real estate, machinery and equipment and working capital50% of eligible cost up to $200,000Fixed rate, Term set by DCEDNeed to be located in a distressed communitySet by DCED
Pennsylvania Industrial Development Authority (PIDA)Land and buildings$2.25 million or 50% of total eligible project costsFixed rate, up to 15 yearsOne job retained per $35,000 or for projects creating jobs one job must be created per $50,000Real Estate:
3.00% for 7 years,
4.00% for 15 years 
or
4.00% for 10 year term
(20 year amortization)
or
3.00%
with 5 year reset
Pennsylvania Industrial Development Authority (PIDA)Pollution prevention and energy efficiency for machinery and equipment and building costsMaximum of $100,000 or 75% of total eligible project costFixed rate, up to 10 yearsOne job retained per $35,000 or for projects creating jobs one job must be created per $50,0002%
Pennsylvania Industrial Development Authority (PIDA)Machinery and equipment acquisition or upgradeMaximum of $400,000 or 50% whichever is lessFixed rate, up to 10 yearsOne job retained per $35,000 or for projects creating jobs one job must be created per $50,0004.00%
Pennsylvania Industrial Development Authority (PIDA)Working Capital and accounts receivable costsMaximum of $100,000 for companies with 100 or fewer full-time employees worldwideFixed rate, up to 12 month termOne job retained per $35,000 or for projects creating jobs one job must be created per $50,0004.00%