Looking for a Business Loan?
Catch these limited-time low rates.
While the low temperatures have been keeping everyone inside, Pennsylvania’s new low rate loans will have you running down to our offices! The Pennsylvania Industrial Development Authority (PIDA) provides low-interest loans and lines of credit through certified economic development organizations (CEDOs) for eligible businesses that commit to creating and/or retaining jobs, as well as for the development of industrial parks and multi-tenant facilities. These loans help small businesses expand and grow with interest rates below market rate.
Now is a great time to consider that expansion you’ve been thinking baout. The economy continues to be strong. The job market is hot. Business owners on average are saving $100,000 in interest through the PIDA loan program. Whether you’re a small business, farm, or any other type of company, our loan officer, Chris Witmer, will work with you.
What kind of project is eligible for this loan?
- Land and building acquisitions
- Construction and renovation costs
- Machinery and equipment acquisitions
- Working capital costs
Is my business eligible?
The variety of enterprise type includes:
- Manufacturing enterprises
- Industrial enterprises
- Agricultural processors and producers
- Research and development enterprises
- Hospitality enterprises
- Computer-related service enterprises
- Construction enterprises
- Child daycare enterprises
- Retail and service enterprises
Up to 15 years for land and building acquisitions and construction / renovation projects; Up to 10 years for machinery and equipment purchases; Working capital and accounts receivable lines of credit have a term of 1 year and can be renewed.
Interest rates for the program are based on current market conditions.
Do I really need to act now?
Yes! These rates only last until March 31. The current rates of 2.75% – 3.75% will increase in April. You need to act now, but you don’t need to do it alone.