215-348-9031  |  115 West Court Street  |  Second Floor  |  Doylestown, PA 18901

Small Business First Fund (SBFF)

General Information  

This program is designed to enhance overall economic development and job creation within the Commonwealth. The loan funds will be used to assist in the start-up and expansion of small industries in Pennsylvania. Preference will be given to those projects that increase exports from the state, decrease imports and/or create new jobs. One full-time equivalent job must be demonstrated to be created or preserved for each $25,000.00 loaned from SBFF.  

SBFF provides low-interest financing for a portion of the costs of land, building, machinery and equipment and working capital to businesses unable to fully finance these projects with equity, bank financing or other private and public sector sources. An applicant must have 100 or less employees, including parent, affiliates and subsidiaries located within Pennsylvania at the time of application.  

Eligible Projects 

General - For profit projects or ventures by a small business enterprise other than a project or venture related to mercantile, commercial/retail operations or personal/professional services. 

Defense Conversion, Environmental Compliance, Recycling, Export Related, Advanced Technology, Computer-related services, and Agricultural Production (working farms), or Contracting (construction) businesses. 

Loan Limits 

Maximum SBFF participation in a project is 50% of the total project cost, or $200,000.00, whichever is less. Working capital loans (limited to new inventory, new personnel and new training) may not exceed $100,000.00 or 50% of the project cost, whichever is less. Private sector funds complete the financing.  

Interest Rates and Term of Loan 

The interest rate for SBFF projects is fixed for the life of the loan at 3.75%. The term of the loan matches the life of the asset: 15 years - Land & Building; 10 years - Machinery & Equipment, 3 Years for Working Capital. 

Fees 

Fees charged by the Bucks County Economic Development Corporation include a non-refundable $1000.00 application fee, a 1% loan-packaging fee, as well as legal fees charged by BCEDC's counsel at the time of closing. For more information, contact BCEDC at 215-348-9031 or email: .