MCIDC Business Financing Programs

PENNSYLVANIA INFRASTRUCTURE INVESTMENT AUTHORITY (PENNVEST)

Description: Low-interest loans for design, engineering, and construction of publicly and privately owned drinking water, distribution, and treatment facilities, storm water conveyance and wastewater treatment systems.

Eligibility:

Communities or private firms needing:

• clean drinking water distribution and treatment facilities
• safe sewage and storm water conveyance and treatment facilities

Eligible Uses:

Design, engineering and construction of publicly and privately owned drinking water distribution and treatment facilities, storm water conveyance and wastewater treatment systems

Where to Apply: MCIDC office or Single Application

Amounts:

• Loans up to $11 million per project for one municipality
• Up to $20 million for more than one municipality
• Up to $2 million for upfront (5 year loan) design and engineering
• Up to 100% of the total project costs

Terms/Conditions:

Interest rates range from 1% to 5%, depending upon the county/area to be served by the project and the resulting residential user rate

Terms depend upon the useful life of the asset being financed

Disbursement based upon reimbursable expenses