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 Available Financial Assistance for Local Businesses
.

From Titusville Industrial Fund Inc. (TIFI)

- Competitive Enterprise Zone Loans
- For Businesses in the Titusville Enterprise Zone (map)
- Enterprise Zone Revolving Loans - Loans from TRA EZ Revolving Loan Pool; For Businesses in the Titusville Enterprise Zone (map)
- USDA Intermediate Revolving Loans - For Businesses in the Titusville School District Footprint
- Titusville Industrial Fund Revolving Loans - For Businesses in the Titusville School District Footprint

 
 State Programs
- Pennsylvania Industrial Development Authority (PIDA)

- Pennsylvania Building PA (BPA)
- Job Creation Tax Credits
- Guaranteed Free Training Program (WEDnetPA)
- Industrial Sites Reuse Program (ISRP)
- Pennsylvania Capital Access Program (PennCAP)
- Pennsylvania Economic Development Financing Authority (PEDFA)
- Pennsylvania Minority Business Development Authority (PMBDA)
- Business in Our Sites Grants/Loans (BOS)
- High Performance Building Program (HPB)
- Next Generation Farmer Loan
 

 Building PA

  • Capital for developers for real estate
  • For Professional Investment Fund Managers
  • Contact DCED
 

 Competitive Enterprise Zone Loans

  • For Businesses in the Titusville Enterprise Zone (map)
  • To help in business projects
  • Contact jbecker@tcda.org at the Redevelopment Authority

Enterprise Zone Revolving Loan

  • Loans from TRA EZ Revolving Loan Pool
  • For Businesses in the Titusville Enterprise Zone (map)
  • Contact jbecker@tcda.org at the Redevelopment Authority
 

 USDA Intermediate Revolving Loan Program

  • For businesses in the Titusville School District Footprint
  • To help with business projects
  • Contact jbecker@tcda.org at the Redevelopment Authority
     

Building PA
Provides mezzanine capital for developers for real estate assets in small to mid-sized
Pennsylvania communities
Eligibility: Professional Investment Fund Managers through a Request for Qualification
(RFQ)
Uses: Real estate development in small to mid-sized PA communities
Amounts: Variable
Terms: Program guidelines to be approved and issued by Commonwealth Financing
Authority. Visit newpa.com to confirm issuance. Upon approval, RFQ criteria:
Demonstrated capacity, for serving the PA marketplace, including specific geographic
areas and/or market segments; Expertise in the proposed real estate sector; Expertise in
range of investments demonstrated by experience and success with previous
investments; Demonstrated capacity to attract additional investment for projects.

 

     Enterprise Zone Competitive Loan
The Redevelopment Authority applies for a loans to PA DCED on behalf of
businesses within the Enterprise Zone. The repayment of these loans go into
the local revolving loan pool to be relent to other businesses.  

Eligibility: Businesses must be located within the Titusville Enterprise Zone
Uses: To acquire machinery and equipment; for building improvements; building

and/or equipment modernization; new building construction; site improvements; 
infrastructure; cost of prepared business lease space; the cost of a Phase I
environmental assessment for projects that involve the acquisition of real property;
the cost of hazardous
waste testing if financing is not available from conventional sources
Requirements: One full-time job must be created or retained within three years
for each $35,000 increment of the EZ Loan request;
Jobs created/retained must be
full-time, substantially above federal minimum wage levels (family sustaining),
with some fringe benefits. Funds of 20% or more must be provided by business.

Enterprise Zone Revolving Loan
Funds from the revolving Enterprise Zone Loan Pool will be lent to businesses within
the Titusville Enterprise Zone. 
Eligibility: Businesses must be located within the Titusville Enterprise Zone.
May be manufacturing, industrial or commercial.
Uses: To acquire machinery and equipment; for building improvements; building
and/or equipment modernization; new building construction; site improvements; 
infrastructure; cost of prepared business lease space; to provide missing piece of
funding package.
Requirements: Based on point system for number of jobs, private to public fund %,
managerial skill & industry knowledge, community benefit, starting wage and credit
history

 

  Industrial Sites Reuse Program (ISRP)
Supplies grant and low-interest loan financing to perform environmental site
assessment and remediation work at former industrial sites.
Uses: Phase I, II and III environmental assessments; Remediation of hazardous 
substances
Funding: Grants and loans up to $200,000 for environmental assessments;
Grants and loans up to $1 million for remediation
Eligibility:Public entities, private nonprofit economic development entities, and
companies involved in reuse of former industrial land; Entities that did not cause
or contribute to environmental contamination.
Terms: Interest rates of 2%; Terms up to 5 years for assessments and 15 years
for remediation projects; A 25% match is required for grant and loan projects
 Job Creation Tax Credits (JCTC)
A $1,000-per-job tax credit to create new jobs in the state within three years.
Uses: Tax credits used to offset various business tax liabilities.
Funding: $1,000-per-job tax credit to approved businesses that agree to create jobs within
three years. Twenty-five percent of the tax credits allocated each year must go to
businesses with less than 100 employees.
Eligibility:
Approved businesses
Terms: Tax credits may not be utilized by a business until the jobs are actually created.
Must create at least 25 new jobs or expand the existing workforce by at least 20 percent.
  Pennsylvania Economic Development Financing Authority
Program (PEDFA) 

T
ax-exempt and taxable bonds, both in pooled transactions and stand-alone
transactions, to be used to finance land, building, equipment, working capital
and refinancing
Uses: land and building acquisition, building renovation and new construction,
machinery and equipment acquisition and installation, designated infrastructure and
tax-exempt bond refinancing
Funding: Loans no less than $400,000 and no more than $10 million for manufacturers;
No upper limit for other projects; Up to 100% of project costs
Terms: Since 1989, rates have averaged 46 percent of the prime interest rate. The
weekly variable interest rate is tied to market for tax-exempt bonds. Bonds are
available for up to 30-year term. Borrower generally must secure letter
of credit from bank and pay a $500 fee due at time of application, to be
credited against the issuance fee when project closes.
USDA Intermediate Revolving Loan
The Titusville Redevelopment Authority is dedicated to the advancement and vitality
of area industries and businesses and stand ready to assist in the procurement of the
necessary funding or technical expertise required to ensure a successful business climate.
Eligibility: Any small business or industry within the Titusville Area School District may
apply for assistance. (A small business is one with less than 100 employees and $1M
in gross revenue per year)
Loan Evaluation: Application will be reviewed based on Business Evaluation, Project
Viability and Public Benefit
Application Process: Interested businesses will first submit a letter of intent
to the Authority outlining a general description of their project and its anticipated
public benefits. If approved, the business will be notified to submit a complete application.
 

State Programs
- Pennsylvania Industrial Development Authority (PIDA)

- Pennsylvania Building PA (BPA)
- Job Creation Tax Credits
- Guaranteed Free Training Program (WEDnetPA)
- Industrial Sites Reuse Program (ISRP)
- Pennsylvania Capital Access Program (PennCAP)
- Pennsylvania Economic Development Financing Authority (PEDFA)
- Pennsylvania Minority Business Development Authority (PMBDA)
- Business in Our Sites Grants/Loans (BOS)
- High Performance Building Program (HPB)
- Next Generation Farmer Loan

     


 701 E. Spring St., Bldg #4, PO Box 425, Titusville, PA 16354                                                814-827-3668

 


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