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Pennsylvania Minority Business Development Authority- Revolving Loan Fund Capitalization P
PMBDA-RLFCP program provides a source of funds with extended payment terms to successful Community Development Financial Institutions (CDFIs) and Community-based Revolving Loan Funds (RLFs) to make low-interest loans to businesses owned and operated by ethnic minorities.
Funding Source
Agency: Pennsylvania Community & Economic Development
Awards & funding
Award Ceiling: $400,000
Eligibility
Funds to CDFIs and RLFs organizations are to be used to make smaller loans to benefit minority business enterprises for land and building acquisitions; building construction and renovations; machinery and equipment costs including acquisition and installation; working capital costs. PMBDA-RLFCP’s maximum loan amount is $400,000 per applicant, and interest rate is 1.5% for a period of 5 years.
Funds to CDFIs and RLFs organizations are to be used to make smaller loans to benefit minority business enterprises for land and building acquisitions; building construction and renovations; machinery and equipment costs including acquisition and installation; working capital costs. PMBDA-RLFCP’…
Dates
Application Opens: January 1, 2024
Application Deadline: December 31, 2035
Supporting links
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