Financing of new business start-ups, as well as the expansion of existing businesses, is a critical element to successfully creating new jobs for the regional economy. To this end, the SAP&DC offers low interest business financing through a number of Commonwealth and Federal programs. Experienced and professional Business Lending staff are able to package loan applications and partners with local economic development agencies to address virtually every business expansion opportunity.

SAP&DC’s Business Lending Program stimulates business expansions that lead to the creation and retention of jobs by providing low-interest financing to eligible businesses. SAP&DC works with eligible businesses to package loans to support expansion projects, and often works with other public funding sources and commercial lenders.

The Commission’s Loan Program is designed to help businesses maintain and increase their markets. Eligible businesses can apply for low interest financing if they are unable to fully finance projects through conventional loans. Specific terms and conditions vary according to funding source.

Eligible businesses include agricultural enterprises, agricultural producers, industrial enterprises, manufacturing enterprises, research and development enterprises, hospitality enterprises (including lodging facilities and restaurants), defense conversion enterprises, recycling enterprises, computer-related services enterprises, construction enterprises (not private homes), child day-care enterprises, tourism, wholesale/distribution and service related businesses.

Eligible activities include purchase and development of land, building acquisition, construction and/or rehabilitation, machinery and equipment acquisition, including delivery and installation and working capital (limited to inventory and new personnel costs). Special programs are also available for businesses engaged in international trade.