SMALL BUSINESS FIRST LOAN PROGRAM

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

Type of Business. Eligible businesses include For-Profit Manufacturing, Industrial, Agricultural Enterprise, Agricultural Producer, Child-Day Enterprise, Computer-Related Services, Construction Enterprises, Defense Conversion, Hospitality Enterprises, Industrial, Manufacturing, Recycling, Research & Development.

Businesses must have less than 100 employees worldwide at the time of application to be eligible.

The hospitality and construction industry sectors may need to posess or provide additional pre-qualifying criteria required for loan application.

Maximum Loan Amount. The maximum amount of funds from this program is 40% of a project or $200,000 (whichever is less). Working Capital Loans are capped at $100,000 or 40% of the total project costs.

Use of Loan Proceeds. Loan proceeds may be applied to land and building, 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 10 years and working capital is up to 3 years.

Matching Funds - Allows land and building as well as machinery and equipment purchases made within a 12 month period prior to the filing of an application to be eligible as the private match towards an SBF loan.

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 seven Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne.

Program Contacts

John Wozniak
jwozniak@nepa-alliance.org

David Nat
dnat@nepa-alliance.org