5 Pa. State Business Loan Programs Lower Costs
HARRISBURG, Pa. (AP) â¿¿ Gov. Tom Corbett's administration says applicants to five Pennsylvania state business loan programs can temporarily bypass an up-front fee and get a lower interest rate.
The state Department of Community and Economic Development said Tuesday that interest rates will be 1.5 percent and a 1 percent administrative fee will be dropped for applicants through March 31.
Rates were 2.75 percent previously.
Department spokesman Steve Kratz says the administration hopes to spark economic growth and more private-sector investment. He says the reductions could be extended if the revolving loan funds can keep operating at that cost structure.The loans are available through the Machinery and Equipment Loan Fund, the Small Business First Program, the Pollution Prevention Assistance Program, the Export Financing Program and the Pennsylvania Industrial Development Authority.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV