HARRISBURG –Jake Corman (R-34th, Bellefonte), the top GOP leader in the state senator, is out with local information for small businesses. He says Pennsylvania Industrial Development Authority loans are going to be part of the state’s recovery and more of those loans will be available.
The so called ‘PIDA loans’ will have more available funding because the state senate approved an additional $61 million. Loans of up to $100, 000 will be available through Commonwealth Financing Agency from small businesses with 100 or fewer full-time employees to use a as working capital.
There will also be no application fees, and the terms will include no payment or interests during the first year of the loan. Sen. Corman said stay tuned for the eligibility information and contact your local state senator for more details now.