Pennsylvania Community Development Bank Program (PCD Bank)
Overview
Financing for Community Development Financial Institutions (CDFIs)
Uses
Community and economic development grants and loans that support job creation
Eligibility
- Loans and grants for Community Development Financial Institutions (CDFIs) for capacity building and making loans to their customers
- Only State accredited CDFIs may receive funding
- CDFIs must meet state accreditation standards and program underwriting guidelines
- Minimum two years lending experience
- Focus on economic development and job creation
Funding
Loans from $100,000 to $2 million
Terms
- Vary – up to 10 years
- Collateral required
- Monitoring covenants established for each borrower