Areas Served: Leigh & Northampton County
The Leigh and Northampton County Revolving Loan Fund was created to provide below-prime-rate fixed financing for Pennsylvania small businesses in the Lehigh Valley who have been turned down by other lending institutions.
The money can be used for land, buildings, renovations, equipment, machinery and working capital.
Loan amounts range from $10,000 to $50,000 or 30 percent of the total project cost, whichever is less.
The interest rate is half of Wall Street Journal prime plus 1.5% .
Once the RLF funding is approved, other financing services must be found that will fund the remainder of the project coSt. On most projects, 10 percent equity is required.
Contact InformationLehigh Valley Economic Development Group
Address: 2158 Avenue C
City: Bethlehem
State: Pennsylvania
Website:
http://lehighvalley.org/Home/GetFinancing/AboutFinancingPrograms/BusinessLoans
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