Program

Machinery and Equipment Loan Fund (MELF)

Minimum/Maximum Amounts

Loans up to $500,000 or 50% of the total eligible project costs, whichever is less

Eligible Activities

Machinery and equipment acquisition, upgrading, related engineering and installation costs, manufacturing, industrial, agricultural processor, direct mining operations, hospitals.

Term & Amortization

Up to 7 year term depending upon useful life of machinery being financed

Rate

Rates from 4.75% .

Fees

Special Notes

Private sector match required; 10% equity required; $25,000 cost per job retained or created; project must be directly related to manufacturing process

Job Creation/Retention Requirements

$25,000 cost per job retained or created

Where to Apply

Lehigh Valley Economic Development Corporation
2158 Avenue C, Suite 200
Bethlehem, PA 18017

Contact Person

Lehigh Valley Economic Development Corporation
Phone: 610-266-6775
1-800-LV-1-7483

Web link

www.lehighvalley.org

Application Download Available

No