Greater Hazleton CAN DO, Inc. has a regional development partnership through NEPA to provide additional financing option. The Northeastern Pennsylvania Alliance (NEPA) is a private, non-profit, regional community and economic development agency, which serves the seven counties of Northeastern Pennsylvania including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne. NEPA provides low-interest loan financing for a portion of the costs of land, building, machinery and equipment to businesses unable to fully finance these projects with equity, bank financing, or other private and public sources.
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SBA 504 Loan
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ARC Loan
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Rural Development Loan
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NEPA Loan
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Tri-District Loan
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NEPA Rural Development Micro Loan
Funding Details:
| Key Benefits |
- 10, 20 or 25 year fixed rate options
- Equity injection as low as 10%
- Subordinate financing to primary lender
- Funding Uses and Purposes
|
| Land Acquisition |
- Building / construction / expansion / renovation
- Long-term machinery and equipment
- Soft costs related to above items
- Commercial mortgage refinancing
|
| Eligibility |
- Borrowers must be for-profit businesses or farms with a tangible net worth < $15 million and 2-year average net income < $5 million
|
| Loan Structure |
- A commercial bank will provide senior financing for 50% of project costs
- CAN DO Finance will provide an SBA 504 loan in a subordiante position for up to 40% of project costs
- Borrower will provide a minimum of 10% equity injection into the project
|
| Amounts |
- $5 million maximum loan amount for most borrowers up to 40% of project costs
- $5.5 million maximum loan amount for manufacturers and certain energy efficient projects up to 40% of project costs
|
| *Additional Info |
Special purpose properties and new company loans reduce the maximum loan amount to no more than 30-35% of project costs |
Funding Details:
| Type of Business |
Eligible businesses include most operating-for-profit businesses (individual proprietorships, partnerships or corporations). Emphasis is placed on manufacturing and industrial businesses. |
| Loan Amount |
$200,000 or 50% of a project, whichever is less. Working capital loans are limited to $100,000. |
| Repayment Terms |
- Real estate-up to 15 years
- Machinery and equipment-up to 7 years
- Working capital up to 3 years
|
| Use of Loan Proceeds |
- Land and building acquisition
- Building construction or renovation
- Machinery and equipment
- Working capital
|
| Jobs |
One permanent job must be created or retained per $50,000 NEPA dollars loaned within 3 years from the loan closing date. |
| *Additional Info |
The business must be located within the seven Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne. |
Funding Details:
| Type of Business |
Eligible businesses include most operating-for-profit businesses except hotels, motels, tourist homes, convention centers or any other tourist or recreation center. |
| Loan Amount |
Up to 50% of the eligible project cost, not to exceed $250,000, depending on availability of funds. |
| Repayment Terms |
- Real estate-up to 15 years
- Machinery and equipment-up to 7 years
|
| Use of Loan Proceeds |
- Land and building acquisition
- Building construction or renovation
- Machinery and equipment
- Working capital
|
| Jobs |
One permanent job must be created per $50,000 NEPA dollars loaned within 3 years from the loan closing date. |
| *Additional Info |
The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne. |
Funding Details:
| Type of Business |
Eligible businesses include for-profit businesses with emphasis placed on manufacturing and industrial business. |
| Loan Amount |
$200,000 or 50% of a project, whichever is less. |
| Repayment Terms |
- Real estate up to 15 years
- Machinery and equipment up to 7 years
- Working Capital up to 3 years
|
| Use of Loan Proceeds |
- Land and building acquisition
- Building construction and renovation
- Machinery and equipment
- Working capital
|
| Jobs |
One permanent job must be created or retained per $50,000 NEPA dollars loaned within 3 years from the loan closing date. |
| *Additional Info |
The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne. |
Funding Details:
| Type of Business |
Eligible businesses include for-profit businesses with emphasis placed on manufacturing and industrial business. |
| Loan Amount |
$200,000 or 50% of a project, whichever is less. |
| Repayment Terms |
- Real estate up to 15 years
- Machinery and equipment up to 7 years
- Working Capital up to 3 years
|
| Use of Loan Proceeds |
- Land and building acquisition
- Building construction and renovation
- Machinery and equipment
- Working capital
|
| Jobs |
One permanent job must be created or retained per $50,000 NEPA dollars loaned within 3 years from the loan closing date. |
| *Additional Info |
The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne. |
Funding Details:
| Type of Business |
Entrepreneurs, business start-ups and existing small businesses with less than 25 employees in areas with a population of less than 5,000. |
| Loan Amount |
The maximum amount of funds from this program is $35,000 or 80% of a project, whichever is less, depending on availability of funds. |
| Repayment Terms |
- Machinery and equipment 3-5 years
- Working capital 2-3 years
- Construction/renovation/acquisition 5 years
|
| Use of Loan Proceeds |
- Purchase of machinery and equipment as well as associated delivery and installation costs
- Working capital
- Construction/renovation/acquistion of real property
|
| Jobs |
Borrowers are required to establish/retain one new job for every $35,000 in loan assistance in business start-up situations; self-employment is included with this job requirement. |
| *Additional Info |
The project must be located within the six Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Schuylkill and Wayne. |
