Financing Business Growth

The Capital Region Economic Development Corporation (CREDC) is your gateway to beneficial loan programs designed to support your growing company.  As the Certified Economic Development Organization for Cumberland, Dauphin & Perry Counties, CREDC has achieved the Commonwealth’s recognition as a superior and experienced lending organization, approved as your access point to Commonwealth programs.  By partnering with a highly regarded Certified Development Corporation, CREDC also facilitates your access to the U.S. Small Business Administration’s 504 Direct Loan Program .   CREDC’s staff will work directly loan applicants to guide them through the application process, while working hand-in-hand with the applicant’s financial institution to ensure a successful project. 

Benefits for businesses

Increase financial growth for your business through programs that help you…

Save money by taking advantage of lower interest rates

Keep more cash in-hand through reduced equity requirements

Gain financial stability through longer fixed interest rate periods

Increase your ‘bankability’ by spreading the risk between your financial institution and a CREDC loan

Benefits for financial institutions

Create value for your customers and create a stronger borrower for you that…

  • Saves money using lower than market interest rates on part of the financing

  • Retains liquidity and cushion by putting less cash in each deal

  • Finds stability in fixed interest rates up to 20 years

  • Provides you with less exposure and better loan to value ratios

Finance Programs

PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs.

  • Up to 50% of eligible project costs

  • 2.75%-3.75% fixed interest rates (5 – 15 years)

  • Up to 100% financing in conjunction with a willing financial institution and satisfactory credit criteria

  • Eligible costs include real estate acquisitions, construction and renovation, machinery and equipment, also including many related application, underwriting, and closing costs

More about the Pennsylvania Industrial Development Authority program

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. 

  • Up to 40% of eligible costs

  • Fixed interest rates for 20 years

  • Up to 90% financing in conjunction with a willing financial institution

  • Eligible costs include real estate and other fixed assets, including many related application, underwriting, and closing costs

More about the SBA 504 program

CREDC maintains an Enterprise Zone revolving loan fund that resulted from administration of the former Harrisburg Technology Corridor Enterprise Zone.

  • Up to 50% of eligible project costs

  • Fixed interest rates up to 15 years trending at or near PIDA rates

  • Eligible costs include real estate acquisitions, construction and renovation, machinery and equipment, and many related application, underwriting and closing costs

  • Lending is dependent upon the availability of funds in the revolving loan fund

  • Contact CREDC for more information

EXAMPLES OF ECONOMIC DEVELOPMENT LENDING SUCCESSES

K&W Engineers Move into New Headquarters: CREDC worked in concert with Orrstown Bank on Project

After buying the iconic King Mansion last spring, Kurowski & Wilson Engineers, LLC (K&W) recently moved into their newly renovated …
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POWERFUL RESULTS: CREDC Financing Supports Improvements to King Mansion in the City of Harrisburg

HARRISBURG, PA (June 13, 2017) – The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) announced today that 2201 NFS LLC, …
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CREDC Provides $2.6 Million in Financing for Two Local Projects This Week

The Harrisburg Regional Chamber & Capital Region Economic Development Corporation (Chamber & CREDC) received approval and closed on projects totaling …
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