EDA COVID-19 Loan Program

Eligible Applicants
For-profit businesses located within Centre, Clinton, Columbia, Juniata, Lycoming, Mifflin, Montour, Northumberland, Perry, Snyder, or Union Counties that are involved in manufacturing, industrial enterprises, or advanced technology. Professional services and business-to-business related enterprises also qualify. Businesses with more than 100 employees may qualify.

Eligible Use
Funds may be used for the following:

  • Building Acquisition
  • Production machinery and equipment (M&E)
  • Furniture, fixtures, and equipment (FF&E)
  • Working capital
  • Professional fees
  • Closing costs/loan fees related to the project
  • Interest payments during bridge financing

Loan Amount
Up to $250,000 or 50% of the eligible project costs, whichever is less.

The interest rate is based on the 10-year Treasury Rate rounded to the nearest quarter percent at the beginning of each quarter + 1.50%. The rate will be good for loans approved by the SEDA-COG Board of Directors Local Loan Review Committee during that quarter. The interest rate will be set at the time of loan approval and fixed for the term of the loan. Please call for current rates.


  • Loans made for working capital, including Furniture, Fixtures & Equipment (FF&E) will have a term of up to three (3) years.
  • Loans made for production Machinery & Equipment will have a term of up to ten (10) years.
  • Loans made for real estate will have a term of up to fifteen (15) years.

Equity Requirement
For existing businesses (more than two years of operations), the borrower must provide a minimum of 10% of the project cost. For start-ups or changes in ownership, the borrower may be required to provide 15% of the project cost.

JOB Criteria
One job must be created and/or retained for every $50,000 of COVID-19 funds in a project within three years of disbursement.


SEDA-COG will charge a one percent (1%) commitment fee on the amount of the COVID-19 loan (due at the time the commitment letter is issued), a one percent (1%) closing fee on the amount of the COVID-19 loan (due at the time of loan closing), and a minimum $500 legal documentation fee (due at the time of closing).

All costs associated with the closing and ongoing servicing of the loan shall be paid for by the borrower.