Pennsylvania Infrastructure Bank (PIB)
Overview
Low-interest loans for the design, engineering, right-of-way and repair, reconstruction and construction of public highways, bridges, public and private airports and railroads and public transportation systems.
Uses
Roadway and bridge construction and repair, traffic signals, roadway drainage improvements, airport runways, hangars and equipment, railroad track, equipment and signals, and public transportation capital facilities and purchases.
Funding
There is no set minimum or maximum loan amount. Construction receives the highest priority. Up to 100% of eligible costs.
Eligibility
All public highways and bridges as well as airports, rail freight and public transportation facilities are eligible to apply.
Terms
The interest rate is a fixed rate at one half prime and is set upon receipt of the loan application. The maximum loan term is 10 years.