Pennsylvania Economic Development Financing Authority (PEDFA) Taxable 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-Bond-Financing_guidelines-09.pdf

Uses

Land and building acquisition; Building renovation and new construction; Machinery and equipment acquisition and installation; Designated infrastructure; Refinancing; Working capital

Funding

Loans no less than $400,000; Up to 100% of project costs

Eligibility

All types of businesses needing access to low-cost capital

Terms

Since 1990, rates have averaged 61% of prime interest rate; Weekly variable interest rate tied to market for taxable bonds; Term is based upon negotiated letter of credit; 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