For a limited-time only, qualifying businesses can get a PIDA loan at a 2 percent interest rate, fixed for the full term of the loan. As part of the Department of Community and Economic Development’s (DCED) mission to grow and sustain business development across the commonwealth, it offers various funding programs. One such program, the Pennsylvania Industrial Development Authority (PIDA), provides low-interest loans and lines of credit to businesses that commit to creating and retaining full-time jobs, and for the development of industrial parks and multi-tenant facilities. In 2017, PIDA has approved $27 million in low-interest loans, leading to $140 million in private investment and supporting 1,316 created and retained full-time jobs.
An inside look at everything Pennsylvania