Eligible Applicants Forpro31t agricultural processors agricultural p - PDF document

1 Eligible Applicants For-prot agric
Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan AmountLand and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( except for service enterprises which is $200,000 or 50% of eligible project costs, whichever is less).Working Capital (line of credit) - Up to $100,000 (50% match required for service enterprises). Up to $350,000 for exporting activities.Pollution Prevention and Energy Efciency Costs - Up to $100,000 or 75% of eligible project costs, whichever is less. Interest RateFor any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a. For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. b. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200 basis point increase/decrease. c. For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing).Pennsylvania Industrial Development Authority (PIDA)Business Finance: Your Lending Partner     :  •  • \r • \f •  •  •  • \r\n •  • \n •         \r  \n-   201  \n, \r,  17837570•524•4491570•524•9190 @\n-. .\n-./ .\n\n. Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan AmountLand and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( except for service enterprises which is $200,000 or 50% of eligible project costs, whichever is less).Working Capital (line of credit) - Up to $100,000 (50% match required for service enterprises). Up to $350,000 for exporting activities.Pollution Prevention and Energy Efciency Costs - Up to $100,000 or 75% of eligible project costs, whichever is less. Interest RateFor any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a. For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. b. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200 basis point increase/decrease. c. For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( PrEnergy E$100,75is less. Interest Rate For any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a.For term loans with a regular amortization, a xed interest rate for the full term of the loyear U.S. Treasury rate, rounded to the closest quarter point, plus 100 ba.For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loerm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yerate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded tosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full toan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 ba d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan AmountLand and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( except for service enterprises which is $200,000 or 50% of eligible project costs, whichever is less).Working Capital (line of credit) - Up to $100,000 (50% match required for service enterprises). Up to $350,000 for exporting activities.Pollution Prevention and Energy Efciency Costs - Up to $100,000 or 75% of eligible project costs, whichever is less. Interest RateFor any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a. For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. b. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200 basis point increase/decrease. c. For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A fixed interest rate for the 12-month of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A fixed interest rate of 2.00% for full term of the loan. Term Real estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply:•For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (dueafter approval of the loan request by the SEDA-COG Local Loan Review Committee).•For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on theloan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.)•For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1%commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local LoanReview Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500legal fee (due at the time of closing).Pennsylvania Industrial Development Authority (PIDA)Business Finance: Your Lending Partner     :  •  • \r • \f •  •  •  • \r\n •  • \n •         \r  \n-   201  \n, \r,  17837570•524•4491570•524•9190 @\n-. .\n-./ .\n\n. Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, PrEnergy E$100,75is less. Interest Rate nterest rates set quarterly on January 1, April 1, July 1, and October 1 of each year using the current For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loanterm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yearperiod, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to theclosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of theloan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and health care facilities, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and

2 Keystone Innovation Zone (KIZ) Land an
Keystone Innovation Zone (KIZ) Land and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, PrEnergy E$100,75is less. Interest Rate nterest rates set quarterly on January 1, April 1, July 1, and October 1 of each year using the current For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loanterm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yearperiod, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to theclosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of theloan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and health care facilities, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) Land and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, nterest rates set quarterly on January 1, April 1, July 1, and October 1 of each year using the current For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loanterm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yearperiod, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to theclosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of theloan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan AmountLand and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( except for service enterprises which is $200,000 or 50% of eligible project costs, whichever is less).Working Capital (line of credit) - Up to $100,000 (50% match required for service enterprises). Up to $350,000 for exporting activities.Pollution Prevention and Energy Efciency Costs - Up to $100,000 or 75% of eligible project costs, whichever is less. Interest RateFor any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a. For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. b. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200 basis point increase/decrease. c. For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A fixed interest rate for the 12-month of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A fixed interest rate of 2.00% for full term of the loan. Term Real estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity Requirement Equity (cash type of business and use of funds. However, the typical One full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply:•For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (dueafter approval of the loan request by the SEDA-COG Local Loan Review Committee).•For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on theloan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.)•For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1%commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local LoanReview Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500legal fee (due at the time of closing).Pennsylvania Industrial Development Authority (PIDA)Business Finance: Your Lending Partner     :  •  • \r • \f •  •  •  • \r\n •  • \n •         \r  \n-   201  \n, \r,  17837570•524•4491570•524•9190 @\n-. .\n-./ .\n\n. Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and development, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) enterprises having 100 or fewer full-time employees.Eligible UseLand and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan AmountLand and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, construction, or day-care enterprises - $400,000 or 50% of eligible project costs, whichever is less.Machinery and Equipment Costs - Up to $1,500,000 or 50% of eligible project costs, whichever is less ( except for service enterprises which is $200,000 or 50% of eligible project costs, whichever is less).Working Capital (line of credit) - Up to $100,000 (50% match required for service enterprises). Up to $350,000 for exporting activities.Pollution Prevention and Energy Efciency Costs - Up to $100,000 or 75% of eligible project costs, whichever is less. Interest RateFor any PIDA loan application that is received on or before December 31, 2017, a 2% interest rate xed for the full term of the loan will be awarded to the PIDA borrower. Beginning on January 1, 2018 or in the event that prior to December 31, 2017, PIDA issues $60,000,000 in loan approvals from the traditional PIDA Fund, $30,000,000 in loan approvals from the MELF Fund, or $15,000,000 in loan approvals from the SBF Fund, the interest rate policy for the respective fund where the threshold has been met will automatically be changed to the interest-rate policy as follows: Beginning on January 1, 2018 (unless a threshold as described above has been met earlier), interest rates will be set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth below: REAL ESTATE LOANS. The borrowers will have 4 options: a. For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. b. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200 basis point increase/decrease. c. For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A fixed interest rate for the 12-month of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A fixed interest rate of 2.00% for full term of the loan. Term Real estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity Requirement Equity (cash type of business and use of funds. However, the typical One full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: •For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due•For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the•For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% Pennsylvania Industrial Development Authority (PIDA)Business Finance: Your Lending Partner     :  •  • \r • \f •  •  •  • \r\n •  • \n •         \r  \n-   201  \n, \r,  17837570•524•4491570•524•9190 @\n-. .\n-./ .\n\n. Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research and health care facilities, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) Land and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research opment enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, nterest rates set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth belowREAL ESTATE LOANS. The borrowers will have 4 options: a.For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loanterm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yearperiod, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to theclosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of theloan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ... Pennsylvania Industrial Development Authority (PIDA) Business Finance: Your Lending Partner Eligible Applicants For-prot agricultural processors, agricultural producers, industrial, manufacturing, research andhealth care facilities, hospitality, defense conversion, recycling, computer-related service, construction, child day-care (including non-prot), mining, service, and Keystone Innovation Zone (KIZ) Land and building acquisition, building construction (including expansion of existing building), machinery and equipment, and working capital.Loan Amount Land and Building Costs - For agricultural processors, manufacturers, industrial enterprises, and research and development enterprises - Up to $2,000,000 or 50%, whichever is less (up to $2,250,000 in some cases). For agricultural producers, hospitality, defense conversion, recycling, computer related services, nterest rates set quarterly on January 1, April 1, July 1, and October 1 of each year using the current 10-year U.S. Treasury rate as an index benchmark, as set forth belowREAL ESTATE LOANS. The borrowers will have 4 options: a.For term loans with a regular amortization, a xed interest rate for the full term of the loan, set at the10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. For term loans with a regular amortization, a xed interest rate for the rst seven (7) years of the loanterm, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 7-yearperiod, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to theclosest quarter point. The reset rate is limited to a 200 basis point increase/decrease.For 10-year term loans with a 20-year amortization period, a xed interest rate for the full term of theloan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. d. For 10-year term loans with a 20-year amortization period, a xed interest rate for the rst ve (5) years of the loan term, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point. After the initial 5-year period, the rate will automatically reset to the then-current 10-year U.S. Treasury rate, rounded to the closest quarter point. The reset rate is limited to a 200-basis point increase/decrease. EQUIPMENT LOANS. A xed interest rate for the full term of the loan, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis points. WORKING CAPITAL AND ACCOUNTS RECEIVABLE LINES OF CREDIT. A xed interest rate for the 12-month term of the credit line, set at the 10-year U.S. Treasury rate, rounded to the closest quarter point, plus 100 basis POLLUTION PREVENTION ASSISTANCE AND ENERGY EFFICIENCY LOANS. A xed interest rate of 2.00% for the full term of the loan. TermReal estate up to 15 years; machinery and equipment up to 10 years; and working capital lines of credit 12 months with up to 6 annual renewals. Pollution prevention of energy efciency loans are up to 10 years.Equity RequirementEquity (cash injection) amount varies based on type of business and use of funds. However, the typical equity amount is 10% of the eligible project costs. In some cases equity in real estate can’t be used.Job CriteriaOne full-time job to be retained for every $35,000 of PIDA funds in the project or one full-time job to be created for every $50,000 of PIDA funds in the project within three years of disbursement. Service enterprises are only required to retain the number of full-time jobs employed by the business at the time of the application to DCED. Agricultural producers, pollution prevention projects, and export related business projects do not need to create or retain employees.FeesDCED charges a 1% commitment fee on the loan amount on loans greater than $400,000. For SEDA-COG the following fees apply: • For loan amounts greater than $400,000 - a non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee). • For loan amounts up to $200,000 to service enterprises - A non-refundable 1% application fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee.) • For loan amounts up to and including $400,000 to all other eligible applicants - A non-refundable 1% commitment fee on the loan amount (due after approval of the loan request by the SEDA-COG Local Loan Review Committee), 1% closing fee on the loan amount (due at the time of closing), and a minimum $500 legal fee (due at the time of closing). ..