A New Loan Program for CREDC’s Tool Box
On: July 12, 2016 Filed Under: Chamber News
GOOD NEWS – with the introduction of the Small Diverse Business Capital Access Program, more business types and more projects will be eligible for low interest financing! This program, as well as all other loans administered by the Pennsylvania Industrial Development Authority (PIDA), requires packaging assistance from Certified Economic Development Organizations (CEDOs). As the CEDO for Cumberland, Dauphin and Perry Counties, small businesses use CREDC to access low interest capital to fund their startup and to grow. Rates are as low as 2% and can be used towards pollution prevention and energy efficiency projects, real estate purchases, renovations and construction, machinery equipment purchases and working capital lines of credit. Each loan pool has its own set of eligibility criteria making some projects and some business types more suitable than others. With the introduction of the new Small Diverse Business Capital Access Program (SDBCA), CREDC can assist even more businesses with their financing needs. To learn more about this new capital access tool, click here.