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The Pennsylvania Economic Development Financing Authority (PEDFA) was created in 1987 to be the state-wide issuer of Tax-Exempt and Taxable Bonds. PEDFA provides cost-effective financing to businesses by issuing bonds, selling bonds to private investors, and lending the proceeds to eligible businesses. Advantages of PEDFA financing include: competitive interest rates, affordable issuance costs, flexible repayment, and versatile financing.
Program information is provided by the PA Department of Community and Economic Development (DCED). Contact WEDCO to learn how and where to apply, or visit DCED’s website for specific program guidelines.
For a summary of our most commonly used financing programs, download WEDCO’s Financial Guide.
Pennsylvania Economic Development Financing Authority (PEDFA) Tax-Exempt Bond Program
Tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancings.
Pennsylvania Economic Development Financing Authority (PEDFA) Taxable Bond Program
Tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancings.
Pennsylvania Economic Development Financing Authority (PEDFA) Tax-Exempt Bond Program
Eligibility
• Manufacturing
• Nonprofit
• Energy
• Solid waste disposal
• Wastewater Treatment
• Transportation facilities
• Assisted Living/Housing
Eligible Uses
• Land and building acquisition
• Building renovation and new construction
• Machinery and equipment acquisition and installation
• Designated infrastructure
• Tax-exempt bond refinancing
Amounts
• 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
• 85% of prime interest rate
• Weekly variable interest rate tied to market for tax-exempt bonds
• Up to 30-year term
• Borrower generally must secure letter of credit from bank
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Pennsylvania Economic Development Financing Authority (PEDFA) Taxable Bond Program
Eligibility
• All types of businesses needing access to low-cost capital
Eligible Uses
• Land and building acquisition
• Building renovation and new construction
• Machinery and equipment acquisition and installation
• Designated infrastructure
• Refinancing
• Working capital
Amounts
• Loans no less than $400,000
• Up to 100% of project costs
Terms
• 95% to 100% of prime interest rate
• Weekly variable interest rate tied to market for taxable bonds
• Term is based upon negotiated letter of credit
• Borrower generally must secure letter of credit from bank
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