Welcome to Philipsburg, PA

Revolving Loan Fund

Types of Loans Land & Building New Machinery/
Equipment
Working Capital Used Machinery & Equipment
Term 7 Years 5 Years 3 Years
Rate As low as 3%
As low as 3%
As low as 3%
Eligible Applicants
Manufacturing, Assembly, Wholesale, Warehouse/Distribution, Service, Retail, Commercial, Professional
Maximum RLF Participation
33% of total project cost
Loan Size
Loans shall be minimum of $15,000 and will not exceed $100,000
Equity Requirement
10% of the total project cost
Security/Collateral
Will subordinate to first position, private lender
Job Creation Requirement
1 new, full-time permanent job should be created for every $25,000 loaned over a three-year period
Loan Fee
$100 non-refundable fee required at application, credited toward a minimum loan fee of 1.5% of loan amount (not to exceed $1,000)
Funds Distribution
Checks provided directly to vendors
Processing Time
Application forms and loan closing documents are kept to a minimum. A well-planned project can apply, receive approval and close a loan within 4-6 weeks