Program

Manufacturers Resource Center (MRC) Loan Guarantee Fund

Minimum/Maximum Amounts

MRC Collateral Pledge of up to $50,000 per loan

Eligible Activities

Equipment purchases and most working capital needs; cannot be used to repay other debt, taxes or fund advances

Term & Amortization

Equipment with 5 year usable life - 5 year term; working capital & other shorter-term needs 2-3 years based on bank discretion.

Rate

Bank rate no greater than 2.25%    

Fees

Bank origination fee no greater than 1% of principal loan amount

Loan Processing Considerations

Complete bank's loan application and comply with bank's requirements

Special Notes

MRC Collateral pledge is a  CD.  Principal loan amount cannot be greater than 80% of fair market value of borrower's collateral. Eligibility is limited to established manufacturers with fewer than 500 employees located in Berks, Upper Bucks, Carbon, Lehigh, Northampton and Schulykill counties.

Where to Apply

Manufacturer's Resource Center
125 Goodman Drive
Bethlehem, PA 18015

Contact Person

Nancee Noderer  
Phone: 610-758-4568 or 800-343-6732

Web link

www.mrcpa.org

Application Download Available

No