LOW INTEREST LOANS CURRENT RATE 3.49%
The Pottsville Area Development Corporation provides loans to encourage development, retention and expansion of businesses within the Enterprise Zone of Pottsville and the Borough Limits of Schuylkill Haven. Low interest loans for business creation and expansion, equipment, start-up costs, inventory, job retention and creation, and other business needs that meet applicable guidelines are available. Current rate is 3.49%
Businesses applying for funding must have commercial, retail or manufacturing base. The business must positively impact the overall community.
- Comprehensive Business Plan.
- Applicant must meet PADCO’s credit requirements and provide proof that all taxes are current.
- Applicant must have in place all appropriate business licenses and permits as required by the State of Pennsylvania and the City of Pottsville.
Rates and Terms
PADCO will lend monies to approved borrowers for a maximum term of five (5) years. The maximum amount that can be borrowed is $100,000. Appropriate collateral must be provided.