• Nov 02, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

Erie County Enterprise Zone Low interest loan financing for land and building acquisition, construction and renovation, machinery and equipment purchase and refurbishing, resulting in the creation or retention of jobs. Offered through the County of Erie Enterprise Zone Loan Program, the program can be used to finance industrial development projects for manufacturing , industrial enterprises , and technology forms within the boundaries of the Erie County Enterprise Zone (industrial zoned areas in the County’s townships, boroughs, and villages). ECEZ funding fills a gap between conventional financing and your organization’s equity. ECEZ can finance up to 30% of the total project cost to a maximum of $250,000. The interest rate is fixed at 4.5 % at the time of loan closing. A fee of 1% ($1000 minimum) of the loan amount (to cover loan origination and legal fees) is charged on closing. The terms of the loan generally are as follows: Used machinery and equipment up to 5 years New machinery and equipment up to 7 years Land and building up to 1 5 years The loan will take 1st or 2nd lien on specific assets and will typically require business and personal guarantees. Erie County Revolving Loan Fund (ECRLF) Low interest loan financing for land and building acquisition, construction and renovation, machinery and equipment purchase and refurbishing, resulting in the creation or retention of jobs. Offered through the County of Erie, the program can be used to finance industrial development projects for manufacturing , industrial enterprises , and certain service/commercial within the boundaries of the Erie County. ECRLF funding fills a gap between conventional financing and your organization’s equity. ECRLF can finance up to 50% of the total project cost to a maximum of $250,000. The interest rate is fixed at 4.5 % at the time of loan closing. A fee of 1% ($1000 minimum) of the loan amount (to cover loan origination and legal fees) is charged on closing. The terms of the loan generally are as follows: Used machinery and equipment up to 5 years New machinery and equipment up to 7 years Land and building up to 15 years The loan will take 1st or 2nd lien on specific assets and will typically require business and personal guarantees. Contact Information City of Corry, Pennsylvania Address: 520 Knowledge Parkway City: Erie State: Pennsylvania Website: https://www.corryidc.org/