The Pennsylvania Industrial Development Authority (PIDA) announced interest rates for economic development loans to businesses. The PIDA program offers low-interest loans to eligible businesses that commit to creating and retaining full-time jobs.
Right now, PIDA's interest rates are 3.00% for real estate and 3.00% for equipment financing for any PIDA borrower whose loan application is received on or before September 30 2019. Lowest rates this year! Depending on the project, rates and terms can be fixed up to 15 years.
PIDA LOANS-Real Estate-3.00%, Equipment-3.00%
Why choose a PIDA loan?
Many businesses are eligible for this type of loan. PIDA is not a substitute for conventional bank lending but works in conjunction with banks or other lenders to provide as much as 50% of the project cost to a maximum of $2,000,000. PIDA's below market interest rate is a major benefit for cash flow savings. Likewise, often PIDA can be valuable in structuring a project with subordinated lien positions and relaxed loan-to-value requirements. PIDA Fact Sheet.
Companies in Bucks County completing PIDA projects with BCEDC.
IMAGEWORX
TULLYTOWN TOWNSHIP
Imageworx is a quality and service oriented supplier of prepress services to the printing, packaging, cosmetic, medical, and advertising industries. Imageworx specializes in the production of artwork, plates, film, prototypes, and proofs.
CARDOLITE CORPORATION
WARRINGTON TOWNSHIP
Cardolite is developer and manufacturer of the world's largest
variety of products derived from cashew nutshell liquid (CNSL), a
renewable natural resource.
EARTHBORNE, INC.
WARRINGTON TOWNSHIP
​Earthborne provides service for all truck and equipment needs, including Preventive Maintenance Programs, Welding / Fabrication, and Tire Service.