Making a good plan better … state and federal financing programs are designed to meet a variety of needs to support your growth and expansion plans. Low-interest financing programs are available provided you have a solid business plan and viable market.  Most programs require 20% equity and are tied to total number of jobs created or retained within three years. Eligibility is often determined by business type. Please allow 90 to 180 days from the time an application is complete to receipt of funds.

Generally, grant funds are not available for business start-up unless you are creating a significant number of jobs (at least 25) or work within specific high-growth industries, such as renewable energy.

WEDCO is not a lender; our staff will work with appropriate agencies and economic development professionals to determine the programs that fit your needs and your eligibility, and assist with the application process. Browse through the programs below, and contact WEDCO for more information.


Bond Financing
Grants
Loan
Loan Guarantee
Tax Credits & Abatements
Technical Assistance
Workforce Development


Case Studies

National Company Expands Facility

Based on increased product demand, a national distribution company headquartered in Wayne County expressed a need to expand its Pennyslvania facility.  WEDCO staff met with company representatives and discussed various low-cost financing programs available through PIDA and the Local Delivery District.  Working with state economic development agencies, WEDCO coordinated loans through PIDA, Small Business First, and the Appalachian Regional Commission.  An Opportunity Grant was also secured.  Public investment funds totaled $752,000; private investment was $309,200.  The desired expansion was completed and the company's workforce increased from 64 to 95.

Restaurant Funded through SBF Loan

Situated in one of the fastest-growing counties in the Commonwealth, a family-owned restaurant recognized the potential to expand.  Company representatives approached WEDCO about funding their $400,000 expansion because they had knowledge of DCED financing programs through the PA Business Retention and Expansion Program.  The restaurant was established in 1977 and employed 28.

The business secured a Small Business First loan of $200,000.  The 3,200 SF addition is complete. Six jobs have been created, and the workforce is expected to grow from the original 28 to a total of 40.