Fox Meadows Creamery, Inc. – Robert and Ruth Fox (2nd generation dairy farmers), along with their sons Chad and Corey and their spouses constructed a creamery on land adjacent to their farm. This is a farm to table ice cream shop with indoor/outdoor seating and the ability to view production. Photo – Corey, Bob, and Chad.


Fox Family photo – Krista, Corey, Ruth, Bob, Andrea (with baby), and Chad.

Small Business Fund loans are provided through EDC Finance Corporation in conjunction with the Pennsylvania Industrial Development Authority (PIDA) to assist growing businesses with less than 100 employees in select industries with incentive financing for major fixed assets such as land, buildings, and equipment.

Key Benefits

  • Below market interest rates
  • Fixed interest rates up to 15 years
  • Loan to value opportunities up to 90%

Funding Uses & Purposes

  • Land acquisition
  • Building construction \ expansion \ renovation
  • Long-term machinery & equipment
  • Soft costs related to above items


Borrowers must have less than 100 employees and be involved in the following enterprises:

  • Agricultural Processors
  • Agricultural Producers
  • Child Day Care
  • Coal Mining
  • Construction
  • Defense Conversion
  • Hospitality
  • Industrial
  • Manufacturing
  • Recycling
  • Research & Development
  • Technology / Computer Services

Loan Structure

EDC Finance will provide a PIDA Small Business loan in an amount up to 50% of project costs in either a subordinate or senior position to other project financing.  The remaining project financing may come from a commercial bank or borrower injection with a maximum 90% loan to value on real estate or 80% loan to value on equipment.


Ingham’s Powder Coating – When Kyle Ingham purchased a new building for his powder coating operation, he took advantage of PIDA financing to purchase equipment to add capacity which his former location did not allow. Photo – Randy Johnston of EDC with Kyle Ingham.


  • $400,000 maximum loan amount for all borrowers up to 50% of project costs


  • 7 Year Fixed Interest Rate Option: Real estate borrowers may select the option of the posted 7 year fixed rate loan, which will reset for the remaining term to the 10-year Treasury rate + 50 basis points with a 2% maximum increase or decrease compared to the original interest rate (floor of 2.25%)
  • Full Term Fixed Interest Rate: All borrowers not selecting the 7 year rate option will receive the posted fixed rate option for the life of the loan
  • Up to a 15 year term for real estate
  • Up to a 10 year term for machinery and equipment

Job Requirements

Borrowers are required to retain 1 full time job per $35,000 borrowed or create 1 full time job per $50,000.  Job creation projects may count both retained and created jobs to determine the loan amount.  Job attainment will be measured three years after loan closing.

Job requirements are waived for all production agriculture projects

Closing Costs

  • 1.5% commitment fee (production agriculture fee is reduced by 0.50% to 1.00%)
  • $2,500 – $3,000 attorney and recording costs
  • Title insurance is required for real estate transactions
where To Apply