Agency: Pennsylvania Community & Economic Development

A variety of different industry sectors are eligible for PIDA financing including manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, and computer-related service enterprises.<br /><br />Land and building acquisitions; Construction and renovation costs; Machinery and equipment purchases; Working capital and accounts receivable lines of credit, Multi-tenant facility projects; Industrial park projects. The PIDA program finances a portion of total eligible project costs. The maximum participation amount is determined by a variety of factors such as the proposed use of the PIDA funds, the business enterprise type applying for financing, the amount of matching financing from sources outside of PIDA, and the number of full-time jobs to be retained or created.<br /><br />Loan approval is contingent upon meeting the program underwriting and collateral requirements. 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. Commitment Fee of 1% of the approved loan amount for PIDA loan approvals exceeding $400,000. Loan applications are packaged by a CEDO that services the county your business is or will be located in. The CEDO will work with you to determine whether or not the PIDA loan program can assist with financing the needs of your business and will discuss with you in detail how the application process works.

Application Opens: January 1, 2024

Application Deadline: December 31, 2035