PA Catalyst Loan Fund and Diverse Business Financing Initiative
Have you heard? BCEDC has two loan programs that may assist your small business in Bucks County.
PA Catalyst Loan Fund
Borrowers must be for-profit businesses or farms with less than 500 employees at the time of application. The maximum amount to borrow – up to $500,000.
Funding Uses & Purposes:
- Land acquisition
- Building construction expansion or renovation
- Acquisition of machinery & equipment
- Soft costs related to above items
- Commercial mortgage refinancing
- Working Capital
Diverse Business Financing Initiative
Borrowers:
To qualify for loan financing through the DBFI, a business must be PA-based and for-profit with fewer than 100 employees worldwide and be minorities, women, veterans, service-disabled veterans and LGBT individuals. Many business sectors are eligible, including manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, and computer-related service enterprises.
Maximum Amount to Borrow: The DBFI will provide a maximum loan of $100,000 to finance a portion of total eligible project costs.
Funding Uses & Purposes:
- Land & Building acquisitions
- Building construction and renovation costs
- Machinery and Equipment
- Working Capital
For more information: https://bcedc.com/funding-sources/loan-programs/other or contact Jim P., 484.352.4175 or info@bcecd.com.
