Pennsylvania Minority Business Development Authority-Revolving Loan Fund Capitalization Program (PMBDA-RLFCP)

Overview

PMBDA-RLFCP program provides a source of funds with extended payment terms to successful Community Development Financial Institutions (CDFIs) and Community-based Revolving Loan Funds (RLFs) to make low-interest loans to businesses owned and operated by ethnic minorities.

Uses

Funds to CDFIs and RLFs organizations are to be used to make smaller loans to benefit minority business enterprises for land and building acquisitions; building construction and renovations; machinery and equipment costs including acquisition and installation; working capital costs.

Eligibility

  • Community Development Financial Institutions (CDFIS)
  • Community-based Revolving Loan Funds (RLFS)
  • Any businesses owned and operated by ethnic minorities, except non-franchised restaurants

Terms

PMBDA-RLFCP’s maximum loan amount is $400,000 per applicant, and interest rate is 1.5% for a period of 5 years.

How to Apply

Complete the loan application found in the guidelines and submit directly to PMBDA.

Additional Information

Questions about the program can be directed to the PMBDA Office at 717.214.5321