Customers Bank and BCEDC presented a Tax Exempt Financing workshop to manufacturers, bankers and real estate brokers on June 4, 2013 held at Sweet Spot Restaurant in Doylestown. Sam Macrina, Senior Vice President, Tax Exempt Lending for Manufacturing, presented the workshop.
Sam educated the attendees on how to qualify for tax exempt financing as well as how to include tax exempt financing with other financing programs such as Pennsylvania Industrial Development Authority (PIDA) and Machinery & Equipment Loan Fund (MELF). His 39 years as a lender provided insight to tax free lending and ways to make it an effective tool for the manufacturing base and banking community. He stressed that banks do not pay taxes on the interest revenues they receive from the loan, so they can offer lower rates to the borrower.
The presentation showed numerous projects and how they were structured using tax free financing. A few of the projects also included other state programs that supported tax free financing.Attendees were also informed of eligible uses as well as ineligible uses for tax free financing.
For more information, please contact Bob or Jim at BCEDC, 215.348.9031.