Pennsylvania Industrial Development Authority (PIDA)
The Pennsylvania Industrial Development Authority (PIDA) provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of Certified Economic Development Organizations (CEDOs) that partner with PIDA to administer the program. SEDCO is a CEDO serving all of Schuylkill County.
Eligible Enterprise Types
Eligible Real Estate Costs
Land & Building: May include, but is not limited to acquisition, construction, renovation, site preparation, engineering, architectural, testing, utilities, site mapping, legal and other related costs
50% of the eligible total project costs up to $2,000,000 or $2,250,000 for special designated zones as defined in the PIDA Guidelines.
A loan made from the PIDA Fund must be matched by other eligible Real Estate costs.
Up to 15 years (straight amortization) or 10 year term with a 20 year amortization.
A loan made from the PIDA Fund must be secured by no less than a second or participating second mortgage on the project premises.
$75,000 per job created/retained.
The PIDA Fund is utilized for real estate projects where the loan amount is greater than $400,000 or the eligible operating entity has more than 100 full-time employees worldwide.
Multi-Tenant Facility Projects
Real estate acquisition, construction or renovation projects where the facility will house two or more eligible enterprise types as indicated above.
50% of the eligible total project costs up to $2,250,000 when the PIDA loan is secured by a first or participating first mortgage on the project premises.
40% of the eligible total project costs up to $2,250,000 when the PIDA loan is secured by a second or participating second mortgage on the project premises.
One tenant cannot occupy more than 80% of the building’s total square footage.
No more than 15% of the building’s total square footage can be occupied by an ineligible tenant.
Industrial Park Projects
Involving the acquisition and development of land for eventual sale to eligible enterprise types as indicated above.
75% of the eligible total project costs up to $2,250,000 and the loan must be secured by a first or participating first mortgage on the project premises.
Multi-Tenant and Industrial Park projects are exempt from job requirements.
Typically, a feasibility study is required when the project is speculative in nature. Please consult with PIDA if requesting a waiver of this policy.