The United States offers direct programs to businesses and developers through various departments such as the U.S. Department of Agriculture, the Economic Development Administration, the U.S. Department of Transportation and the Environmental Protection Agency. Erie Redevelopment has the network and knowledge to assist in identifying, applying and successfully obtaining funding through these programs.
There are many state programs available and can be found online. The commonwealth are continually updating rates and program details. Visit Commonwealth of Pennsylvania Department of Community and Economic Development to find current information about these programs.
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).
- 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 or mortgages on specific assets and will typically require business and personal guarantees