Program

 Day Care Loan- Non-Profit or
 For Profit

Minimum/Maximum Amounts

Maximum loan amount is $100,000 or 50% of the total eligible project cost, whichever is less.

Eligible Activities

Funding is available for building costs which include acquisition, rehabilitation, engineering, and other related costs; machinery and equipment costs such as acquisition, delivery, and installation of play ground equipment, bookshelves, books, etc., and working capital.

Term & Amortization

Loan repayment terms will be tailored to meet the needs of the business.

Rate

2.75% annual interest rate.

Fees

DCED will charge no fees to loan recipients.  Reasonable loan processing fees my be charged to the borrower by the Area Loan Organization.

Loan Processing Considerations

Special Notes

This loan is part of the Small Business First Program.

Job Creation/Retention Requirements

N/A

Where to Apply

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

Complete pages 1-6 of Single Application Form with a narrative attached

Contact Person

1-866-466-3972

Web link

www.newpa.com

Application Download Available