The Erie County Redevelopment Authority (ECRDA) offers a variety of financing options for commercial real estate and business development and redevelopment. Our products provide gap financing that work in conjunction with private equity and private debt to help your business grow and prosper.
No matter what your business needs, we are here to help. To allow for maximum low-interest financing for your project, The ECRDA operates and manages the following business loan programs:
ECRDA Business Loan Fund
ECRDA operates a $30M+ loan program for business development in Erie County, with financing up to $1 million for manufacturing, Industrial, commercial, and service businesses. Funding can be used for land and building acquisition, construction and renovation, machinery and equipment purchase and refurbishing.
PIDA Loans (Pennsylvania Industrial Development Authority)
PIDA distributes loans to The Erie County Redevelopment Authority which, in turn, lends funds to local companies for projects. The purpose of PIDA is to stimulate the construction of industrial building and/or development projects to increase employment in Pennsylvania with the focus on job creation or job retention. PIDA provides long-term, low-interest second mortgage financing for new construction, acquisition, or expansion.
USDA Loan Program
Much like PIDA loans, the USDA loan program utilizes low-interest financing for businesses located in certain rural areas. USDA makes funds available through ECRDA for business development.
The Erie County Redevelopment Authority offers financing to local municipalities located within Erie County. We offer affordable financing which can be used for infrastructure expansion or improvement, real estate purchase or renovation, and equipment or vehicles. We work closely with the municipality helping to spur growth and create jobs.
Minority-Owned Loan Fund
The Erie County Redevelopment Authority Minority-Owned Loan Program is a micro-loan program designed to provide access to funds to businesses to stimulate growth. The loan program is for both new and established companies. Eligible businesses include but are not limited to retail businesses, service businesses, manufacturing, and technology concerns.
Tax Credits, Grants and Technical Assistance
ECRDA, in partnership with local, state and federal officials will work to ensure your project is eligible for the maximum financial incentives necessary to deliver your project on time and within budget.
For more information about any of our Capital options, please contact:
Chris Groner, Vice President of Capital Finance & Lending
814.480.0337 x 103
Betsy Bort, Senior Loan Officer
814.480.0337 x 303