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.
| PROGRAM | USES | AMOUNTS | TERMS | JOB | INTEREST RATE |
|---|---|---|---|---|---|
| Small Business Administration (SBA) 504 Program | Land, buildings, machinery and equipment | In most cases 40% of the project or up to $5.5 million | Fixed rate up to 20 years | One job created per $65,000 | Rates set monthly based on current bond pricing |
| USIDA IRPLoan Program | Business acquisition, Purchase machinery and equipment, start-up costs | Maximum of $150,000 or 40% of eligible project cost | Maximum term not to exceed 10 years | One full-time equivalent job retained or created for every $50,000 borrowed | Real Estate: Prime minus 1%. Machinery/Equipment: Prime Inventory/Accts. Receivable: Prime plus 1% |
| Growth Initiative Loan Program | Building conversion, machinery and equipment, start-up cost, working capital | Maximum of $25,000 or 100% of total project cost, whichever is less | Fixed rate, 60 months for Real estate secured loan; 36 months for Machinery/equipment Secured loan; 12 months for Inventory/accounts receivable secured | N/A | Real 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 Program | Working capital, accounts receivable | Maximum of $350,000 | Fixed rate, for a 12 month period | N/A | Based on market conditions |
| Revolving Loan Fund | Land acquisition, building construction, purchase of machinery and equipment, working capital | Maximum of $50,000 or 50% of total eligible project cost, whichever is less | Fixed rate, Real estate secured – 84 months, Machinery/equipment secured – 60 months, Inventory/Accounts Receivable secured – 36 months | Create or retain on full-time equivalent job for every $25,000 borrowed | Real 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 capital | 50% of eligible cost up to $200,000 | Fixed rate, Term set by DCED | Need to be located in a distressed community | Set by DCED |
| Pennsylvania Industrial Development Authority (PIDA) | Land and buildings | $2.25 million or 50% of total eligible project costs | Fixed rate, up to 15 years | One job retained per $35,000 or for projects creating jobs one job must be created per $50,000 | Real 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 costs | Maximum of $100,000 or 75% of total eligible project cost | Fixed rate, up to 10 years | One job retained per $35,000 or for projects creating jobs one job must be created per $50,000 | 2% |
| Pennsylvania Industrial Development Authority (PIDA) | Machinery and equipment acquisition or upgrade | Maximum of $400,000 or 50% whichever is less | Fixed rate, up to 10 years | One job retained per $35,000 or for projects creating jobs one job must be created per $50,000 | 4.00% |
| Pennsylvania Industrial Development Authority (PIDA) | Working Capital and accounts receivable costs | Maximum of $100,000 for companies with 100 or fewer full-time employees worldwide | Fixed rate, up to 12 month term | One job retained per $35,000 or for projects creating jobs one job must be created per $50,000 | 4.00% |