Southern Alleghenies Planning & Development Commission offers a variety of funding options to both start-up and existing businesses within Blair, Bedford, Cambria, Fulton, Huntingdon, & Somerset Counties.

Maximum Loan:

• $200,000 or 50% of the total eligible project cost, whichever is less
• Working capital loans limited to $100,000 or 50% of total project cost, whichever is less
• SAP&DC serves as a Certified Economic Development Organization (CEDO) for the Pennsylvania Industrial Development Authority (PIDA) PIDA loans (must meet PIDA eligiblility) $400,000 or 50% of the total project cost, whichever is less

Minimum Loan:

• Minimum Loan: $25,000

Eligible Use of Funds:

• Land acquisition and related costs
• Building acquisition, construction, or rehabilitation
• Machinery  and equipment  (new or used)
• Working Capital

Terms:

• Land and Buildings – 10 to 15 years
• Machinery and Equipment – 5 to 7 years
• Working Capital – 3 to 5 years

Interest Rate:

• Below market and fixed for the term of the loan

Fees:

• 1% of the loan amount (minimum $250) plus all applicable legal, filing, and credit reporting fees

Eligible Applicants:

•  Manufacturing
•  Wholesale Distribution
•  Agricultural Enterprise
•  Child Day-Care
•  Hospitality
•  Commercial & Service
•  Tourism

For additional information or to speak with a loan officer about your project please call Tina Taylor at (814) 949-6517 or Lisa Harten at (814) 949-6546.