MCSBGL is funded by a $250,000 Local Share Account (LSA) Grant that makes up to $50,000 available to small businesses in Monroe County who are looking to expand and create/retain jobs. The funds can be used for acquisition, construction, infrastructure/site preparation, machinery/equipment, working capital and related costs including but not limited to professional services, engineering, inspections, fees, insurance, environmental assessment, legal costs and closing costs. Click here for the MCSBGL Program Guidelines and Click here for the MCSBGL Program Application
The PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA to administer the program. PMEDC is the CEDO in Monroe County and interested applicants should contact us directly at (570) 839-1992.
Building PA provides funding for the development of real estate assets within the Commonwealth. Funds will be loaned to experienced private sector real estate funds that will raise matching funds and invest in projects throughout the Commonwealth. PMEDC has been approved as a fund manager for the Building PA program. Contact Dennis Noonan at PMEDC for more information.
Agriculture and tourism are two of Pennsylvania’s largest industry segments. Historically, the Commonwealth has provided little in the way of financial incentives to owners of tourism-related businesses or assisted farmers with their capitalization or working capital needs. First Industries provides low-interest loans for these important industry sectors.
Keystone Innovation Zones (KIZs) are designated zones that may be established in communities that host institutions of higher education. These zones are designed to foster innovation and create entrepreneurial opportunities. By bringing together education, community and economic development initiatives, local municipalities and businesses can focus on creating an environment to support company growth and formation.
Click here to find information on the Pocono Mountains KIZ
Research and new product development are cornerstones to broader economic growth. From manufacturing to drug discovery, the Commonwealth can be an active agent in stimulating both academic and private research as well as moving the fruits of that research into the marketplace. The increase of the R&D tax credit to $30 million from $15 million and allowing credits to be traded will help.
Monroe County has created an industrial/business revolving loan fund administered through PMEDC and the Redevelopment Authority of the County of Monroe to provide low-interest, partial financing for eligible businesses and industries in designated portions of the county. The program can fund machinery or equipment, working capital, product development and pollution control equipment. Other uses can be considered on a case by case basis. The maximum loan amount is $100,000. Contact PMEDC directly for details on this program.
Click here for the MCRLF Program Guidelines
For a complete listing of business financing programs or to access the Single Application for Assistance, please visit the Department of Community and Economic Development website at www.newPA.com, or call 1-866-GO-NEWPA (1-866-466-3972).