Financing
There is one thing all businesses in all stages of business need. That thing is funding. Whether you are starting a business, growing a business, acquiring a new facility, or any other business activity; BCDA has you covered. We work with a wide variety of both private and public programs and lenders to ensure that your business has the capital it needs to succeed.
Low interest Loan Programs
Who Qualifies
New and Small Businesses
Uses
Initial start-up costs, inventory/equipment, building
acquisition, renovation, lease space, working capital, etc.
Amount
$50,000
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Who Qualifies
Manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, computer-related service enterprise
Uses
Land and building acquisitions; Construction and renovation costs; Machinery and equipment purchases; Working capital and accounts receivable lines of credit, Multi-tenant facility projects; Industrial park project
Amount
Max loan Ranges from $0 to $2.25 million dependent on project and industry
Who Qualifies
Any businesses owned and operated by ethnic minorities, except non-franchised restaurants
Uses
Land and building acquisitions; Building construction and renovations; Machinery and equipment costs including acquisition and installation; Working capital Costs.
Amount
up to 90% of the eligible total project costs, or $250,000, whichever is less. Funds from other sources must equal at least 10% of PMBDA eligible project costs.
Who Qualifies
Manufacturers with operations in Allegheny, Armstrong, Beaver, Bedford, Butler, Cambria, Fayette, Greene, Indiana, Lawrence, Somerset, Washington, or Westmoreland Counties
Uses
At loan advisers discretion
Amount
Maximum $400,000
Who Qualifies
People who are starting, expanding or buying a small business
Uses
Can be used to purchase property, restore and rehabilitate buildings, purchase inventory or equipment, buy the assets of an existing business, and for working capital.
Amount
From $20,000 to over $1 million
Who Qualifies
Beginning and first-time farmers
Uses
Agricultural land, improvements, depreciable property, succession
Amount
$552,000 per person
Who Qualifies
Minority owned, women owned, veteran owned, service disabled veteran owned, disabled owned, LGBT owned, and small diverse business
Uses
Initial start-up costs, inventory/equipment, building
acquisition, renovation, lease space, working capital, etc.
Amount
$35,000
Bonds
Who Qualifies
All types of businesses and projects needing access to low-cost capital
Uses
land and building acquisition, building renovation and new construction, machinery and equipment acquisition and installation, designated infrastructure, refinancing, working capital
Amount
no less than $400,000. Up to 100 percent of project costs
Who Qualifies
All types of businesses and projects needing access to low-cost capital: Manufacturing, Nonprofit 501(c) (3), Solid waste disposal, Wastewater treatment, Transportation facilities, Assisted living/housing
Uses
land and building acquisition, building renovation and new construction, machinery and equipment acquisition and installation, designated infrastructure, refinancing (of bonds that were also tax-exempt initially), working capital
Amount
no less than $400,000. Up to 100% of project costs
Mission
To improve the quality of life in Bedford County through economic development while preserving our heritage and natural resources.
Values
- Integrity
- Partnership
- Results