Programs

Pennsylvania Community Development Bank Loan Program (PCD Bank)

Overview

Debt financing for Community Development Financial Institutions (CDFIs)

Uses

Community and economic development loans that support job creation

Eligibility

  • Debt financing for Community Development Financial Institutions (CDFIs) Public funds (25 percent) matched with private sector funds (75 percent) to create a loan pool for eligible CDFIs
  • State accredited community development financial institution
  • CDFI must meet state accreditation standards and program underwriting guidelines
  • Minimum two years lending experience
  • Focus on economic development and job creation

Funding

Loans from $250,000 to $5 million

Terms

  • Vary – up to 10 years
  • Principal and interest repaid quarterly
  • Interest rate is a blend between public rate of 50 basis points and private rate of U.S. Treasury rate plus 100 basis points
  • Collateral required
  • Monitoring covenants established for each borrower

How to Apply

DCED Center for Private Financing