On December 3, 2012, the Department of Community and Economic Development (DCED) announced that they will be lowering interest rates for the Machinery and Equipment Loan Fund (MELF), Pennsylvania Industrial Development Authority (PIDA), the Small Business First Program (SBF), the Pollution Prevention Assistance Program (PPAP), and the Export Financing Program (EFP) from 2.75% to 1.5%.
In addition, DCED is waiving fees charged by the Department Secretary of DCED, C. Alan Walker, mentioned that “by reducing interest rates and the cost of borrowing, we hope to encourage new capital investment, provide critical access to capital, and free up operating cash to support new hiring.”
For more information on these new lowered rates and all of our other economic development funding programs, contact Paul Cooney at 814-944-6113 or paulc@blairalliance.org
