Pennsylvania Economic Development Financing Authority (PEDFA) Taxable 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
- working capital
- Loans no less than $400,000
- Up to 100 percent of project costs
All types of businesses needing access to low-cost capital
Since 1990, rates have averaged 61 percent of the prime interest rate. The weekly variable interest rate is tied to the market for taxable bonds. The bond term is based upon a negotiated letter of credit- the borrower generally must secure a letter of credit from the bank. A $500 fee due at time of application to be credited against the issuance fee when the project closes.
How to Apply
Industrial Development Authorities and Corporations