The Financing Assistance Program provides clients with:
- information on bank and government lending programs;
- assistance in determining which loan programs or financing options are most appropriate; and
- help in the preparation of loan packages.
The Financing Assistance Program will also conduct research to determine specifics about various financing programs for businesses in the Lehigh Valley. The program can also serve as a liaison between businesses and loan funds, banks, economic development agencies, the U.S. Small Business Administration, and the Pennsylvania Department of Commerce.
Loan Programs Available Within Our Service Area
| Name | Program Details | Eligible Users | Contact Information |
|---|---|---|---|
| Bethlehem Small Business Loan Fund |
City of Bethlehem |
Property, construction, renovation, predevelopment costs, machinery & equipment, working capital | The Rising Tide Community Loan Fund Chris Hudock 484-893-1039 https://www.bethlehem-pa.gov/econdev |
| Allentown Economic Development Loan Fund | City of Allentown Loan Funds: $50,000 - $100,000 Job creation/retention required Owner investment required: 10% |
Contact for eligible uses | City of Allentown Business Development Bernadette DeBias 610-437-7739 http://www.allentownpa.gov/Work/Capital |
| Allentown Enterprise Zone Revolving Loan Fund | City of Allentown Enterprise Zones Loan Funds: $10,000 - $100,000 Up to 75% of eligible project costs |
Property, construction, renovation, machinery & equipment, equipment modernization, working capital | Allentown Economic Development Corporation David Dunn 610-435-8890 http://allentownedc.com/economic-development/financing-incentives |
| Allentown Development Company Loan Program (ADCO) | City of Allentown Loan Funds: $10,000 - $75,000 Job creation/retention required Owner investment required: 10% |
Property, construction, renovation, machinery & equipment, working capital | Lehigh Valley Economic Development Corporation Doug Warfel 610-266-0887 http://www.lehighvalley.org/get-financing/business-loans/ |
| Whitehall Township Industrial and Community Development Authority Loan Pool | Whitehall and Surrounding Areas | Property, construction, renovation, machinery & equipment, working capital | Whitehall Township Industrial & Community Development Authority Howard Lieberman 484-245-4098 http://www.wticda.com/wticda_community_loan_pool.html |
| Name | Program Details | Eligible Users | Contact Information |
|---|---|---|---|
| Lehigh and Northampton Counties Revolving Loan Fund |
Lehigh and Northampton Counties |
Property, construction, renovation, machinery & equipment, working capital | Lehigh and Northampton Counties Revolving Loan Fund Chris Hudock 484-893-1039 https://therisingtide.org/ |
| Northampton County Business Boost Revolving Loan Fund | Northampton County Loan Funds: $10,000 - $150,000 Up to 35% of eligible project costs |
Property, construction, renovation, machinery & equipment, working capital | Northampton County Department of Community and Economic Development Dave Hughes 610-559-3200 Ext 9 http://www.northamptoncounty.org |
| Northampton County Economic Reinvestment Loan Program | Northampton County Loan Funds: $10,000 - $250,000 Up to 30% of eligible project costs |
Property, construction, renovation, machinery & equipment, infrastructure improvements, development fees, and site preparation | Northampton County Department of Community and Economic Development Dave Hughes 610-559-3200 Ext 9 http://www.northamptoncounty.org |
| Lehigh Valley Loan Program | Cities of Easton, Bethlehem, and Allentown | Property, site preparation, machinery & equipment, working capital | Lehigh Valley Economic Development Corporation Doug Warfel 610-266-0887 http://www.lehighvalley.org/get-financing/business-loans/ |
| Bucks Rebuilt Loan Program | Bucks County Loan Funds: up to $500,000 Up to 40% of eligible project costs |
Property, improvements, development of underutilized industrial properties | Bucks County IDA Margaret McKevitt 215-345-3402 http://buckscountyida.com/ |
| Bucks Renewed Loan Program | Bucks County Loan Funds: up to $500,000 Up to 40% of eligible project costs |
Renovations to downtown building or downtown revitalization | Bucks County IDA Margaret McKevitt 215-345-3402 http://buckscountyida.com/ |
| Bucks Core Industry Loan | Bucks County Loan Funds: up to $400,000 1 FT job for each $35,000 borrowed |
Property, site preparation, machinery & equipment, working capital | Bucks County IDA Margaret McKevitt 215-345-3402 http://buckscountyida.com/ |
| Bucks Taste and Tour Loan | Bucks County Loan Funds: up to $35,000 Up to 80% of eligible project costs |
Machinery & equipment, working capital, livestock, feed and seed, renovations | Bucks County IDA Margaret McKevitt 215-345-3402 http://buckscountyida.com/ |
| Montco Opportunity Loan Program- | Montgomery County Loan Funds: up to $250,000 1 FT job for each $50,000 borrowed |
Property, machinery & equipment, working capital | Montgomery County http://www.montcopa.org/index.aspx?NID=1713 |
| Name | Program Details | Eligible Users | Contact Information |
|---|---|---|---|
| The Rising Tide Community Loan Fund |
Lehigh, Northampton, Bucks, and Montgomery Counties |
Property, machinery & equipment, inventory working capital | The Rising Tide Community Loan Fund Chris Hudock 484-893-1039 https://www.bethlehem-pa.gov/econdev |
| Community First Fund | Lehigh, Northampton, and Montgomery Counties Loan Funds: $50,000 - $500,000 |
Property, construction, renovation, machinery & equipment, working capital | Community First Fund Jim Buerger 484-577-4824 http://www.commfirstfund.org/loans-training/loan-products |
| Name | Program Details | Eligible Users | Contact Information |
|---|---|---|---|
| SBA 504 Loan Program |
Lehigh and Northampton Counties |
Property, construction, renovation, major machinery & equipment |
Lehigh and Northampton Counties: Bucks County: |
| PA Industrial Development Authority (PIDA) | Lehigh and Northampton Counties Bucks County Loan Funds: up to $2 million 1 FT job for each $35,000 borrowed Up to 60%-70% of eligible project costs |
Property, construction, renovation |
Lehigh and Northampton Counties: Bucks County: |
| Small Business First Fund | Lehigh and Northampton Counties Bucks County Montgomery County Loan Funds: up to $200,000 1 FT job for each $25,000 borrowed Up to 50% of eligible project costs |
Property, construction, machinery & equipment, working capital |
Lehigh and Northampton Counties: Bucks County: Montgomery County: |
| PA Minority Business Devleopment Authority (PMBDA) | Lehigh and Northampton Counties Bucks County Loan Funds: up to $750,000 1 FT job for each $15,000 borrowed Up to 75% of eligible project costs |
Property, construction, renovation, machinery & equipment, working capital | Lehigh Valley Economic Development Corporation Doug Warfel 610-266-0887 http://www.lehighvalley.org/get-financing/business-loans/ |
| PA Economic Development Financing Authority (PEDFA) | Lehigh and Northampton Counties Bucks County Loan Funds: no less than $400,000 Up to 100% of total project costs |
Property, construction, renovation, machinery & equipment, designated infrastructure, refunding of tax-exempt debt |
Lehigh and Northampton Counties: Bucks County: |
Please NOTE: "The U.S. Small Business Administration DOES NOT offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. While the SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments." The SBDC Financing Assistance Program does not offer services to identify grant funding.
See https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs for more information.
Consulting
A major activity of the Financing Assistance Program is informing clients of financing options. Information on bank and government loan programs is readily available. Once a client determines the amount of funds needed, appropriate funding sources can be identified. With the assistance of the program director, clients are enabled to structure a financial package, possibly utilizing various federal, state, and local programs to obtain the lowest possible blended interest rate. Clients are also helped with the development of an appropriate loan proposal with ratio analysis and cash flow projections.
Networking
The program director works closely with administrators of various alternate bank lending programs. Because of these contacts, clients are able to receive information about the newest developments in loan programs and to structure their loan package to obtain the most favorable interest rates. Through an extensive network of contacts, the program stays abreast of changes in financing program requirements, as well as legislative changes affecting these programs.
Resources and Assistance
In order to receive assistance from the SBDC Financing Assistance Program, clients must first complete a Request for Service Form. The program director will then call to get background information and set the next steps. The consulting engagement may include several interviews and an on-site visit. After a review and evaluation the client's financial situation, a course of action is recommended.
Consulting services are completely confidential and no-cost.