Pennsylvania Economic Development Financing Authority (PEDFA) Tax Exempt Bond Program

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.

Guidelines:

• PEDFA Guidelines July 2009 (Adobe PDF)

Uses:

Land and building acquisition; Building renovation and new construction; Machinery and equipment acquisition and installation; Designated infrastructure; Tax-exempt bond refinancing

Funding:

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

Eligibility:

Manufacturing; Nonprofit 501(c) (3); Energy; Solid Waste disposal; Wastewater treatment; Transportation facilities; Assisted living/housing

Terms:

Since 1989, rates have averaged 46% of prime interest rate; Weekly variable interest rate tied to market for tax-exempt bonds; Up to 30-year term; Borrower generally must secure letter of credit from bank; $500 fee due at time of application, to be credited against the issuance fee when project closes

Where to Apply:

Industrial Development Authorities and Corporations

Purpose of Funding:

• Environmental Projects
• Infrastructure
• Land & Building
• Machinery & Equipment - Business
• Retail & Commercial
• Entrepreneurial Assistance
• Site Development - Business
• Working Capital