LACKAWANNA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY LOAN PROGRAM

The loan eligibility requirements for this program are outlined as follows:

Type of Business. Eligible businesses include for-profit businesses (individual proprietorships, partnerships or corporations). These businesses may include manufacturers, retailers, wholesalers and service related companies.

Maximum Loan Amount. The maximum amount of funds from this program is $20,000 or 50% of a project (whichever is less).

Use of Loan Proceeds. Loan proceeds may be applied to land and building acquisition, machinery and equipment and working capital.

Loan Program Features.

Interest Rate - The interest rate on this loan program is below the market rate. The current interest rate is a fixed rate of 3.5% over the life of the loan.

Repayment Terms - The repayment duration for real estate is up to 5 years, machinery/equipment is up to 5 years, and working capital is up to 3 years.

Loan Program Requirements.

Location - The project must be located within Lackawanna County.

Program Contacts:

John Wozniak
jwozniak@nepa-alliance.org