NORTHEASTERN PENNSYLVANIA ALLIANCE 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). Emphasis is placed on manufacturing and industrial business.

Businesses NOT eligible for this loan program include nonprofit businesses, passive income or developer/landlord institutions, lending and investment institutions, media (newspapers, magazines, etc.), medical facilities, farming and agricultural projects

Maximum Loan Amount. The maximum amount that can be applied for is $150,000 or 50% of project costs (whichever is less).

Use of Loan Proceeds. Loan proceeds may be applied to land and building acquisition, machinery and equipment, or 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 4% over the life of the loan.

Repayment Terms - The repayment duration for real estate is up to 15 years, machinery and equipment is up to 7 years, and working capital is up to 3 years.

Loan Program Requirements

Job Creation - One permanent job must be created per $25,000 NEPA dollars loaned.

Location - The project must be located within the six Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill, and Wayne.

Bank Financing - The project financing plan must include bank funds.

Program Contacts

John Wozniak
jwozniak@nepa-alliance.org

David Nat
dnat@nepa-alliance.org