Pennsylvania Economic Development Financing Authority (PEDFA) Tax Exempt Bond ProgramAugust 10, 2015
Tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancings.
- land and building acquisition
- building renovation and new construction
- machinery and equipment acquisition and installation
- designated infrastructure
- tax-exempt bond refinancing
Loans no less than $400,000 and no more than $10 million for manufacturers; No upper limit for other projects; Up to 100% of project costs
Since 1989, rates have averaged 46 percent of the prime interest rate. The weekly variable interest rate is tied to market for tax-exempt bonds. Bonds are available for up to 30-year term. Borrower generally must secure letter of credit from bank and pay a $500 fee due at time of application, to be credited against the issuance fee when project closes.
How to Apply
Industrial Development Authorities and Corporations