Pennsylvania Community Development Bank Loan Program (PCD Bank)

Debt financing for Community Development Financial Institutions (CDFIs).

Guidelines:

• Pennsylvania Community Development Bank Guidelines (Adobe PDF)

Uses:

Economic development loans that support job creation; Community development loans that support job creation

Funding:

Loans from $250,000 to $5 million

Eligibility:

Debt financing for Community Development Financial Institutions (CDFIs) Public funds (25%) matched with private sector funds (75%) to create a loan pool for eligible CDFIs; State accredited community development financial institution; CDFI must meet state accreditation standards and program underwriting guidelines; Minimum two years lending experience; Focus on economic development and job creation

Terms:

3, 5, and 7-years loans; Principal and interest repaid quarterly; Interest rate is a blend between public rate of 50 basis points and private rate of U.S. Treasury rate plus 100 basis points; Collateral required; Monitoring covenants established for each borrower

Where to Apply:

DCED Center for Business Financing

Purpose of Funding:

• Community Development
• Retail & Commercial
• Workforce Development