Program

Allentown Development Company (ADCO) Loan Program

Minimum/Maximum Amounts

Minimum $10,000

Eligible Activities

Land/building acquisition, building construction/renovation, machinery & equipment, inventory, working capital

Term & Amortization

Personal guarantees required. 12 months to 10 years depending upon loan type

Rate

Established by ADCO Board

Fees

$300 application; 1% commitment fee plus legal and closing costs; fees can be financed within the loan

Loan Processing Considerations

Special Notes

Target is low-moderate income wage earners and neighborhoods: start-up or expanding entrepreneurs that provide goods/services to target group; non-profit organization providing community based services to target group; and housing developers who develop in target census tracts.

Job Creation/Retention Requirements

Business must create or retain jobs where 51% of jobs are held by target group

Where to Apply

Lehigh Valley Economic Development Corporation
2158 Avenue C
Bethlehem, PA

Contact Person

Robert Curzi, Senior Finance Director
Phone: 610-266-6775
Fax: 610-266-7623
Email: rcurzi@lehighvalley.org

Web link

www.lehighvalley.org

Application Download Available