On July 5th, the Pennsylvania Industrial Development Authority (PIDA) lowered its economic development lending interest rate for new applications to 2% fixed for up to 15 years for projects approved during the second half of 2017. EDC Finance utilizes PIDA loans to work with Lancaster County manufacturers, industrial enterprises, farmers, agri-businesses, and other eligible borrowers to finance the acquisition and construction of real estate and equipment projects. To spur continued economic growth during the second half of 2017, PIDA will lower its rate to 2% and fixed the rate for the duration of the loan. Interested borrowers or bank partners are encouraged to contact Lyle Hosler or Randy Johnston at EDC Finance (717-397-4046) to learn more and discuss details. Also, visit EDC Finance’s website at www.edcfinancecorp.com to learn more about the types of projects eligible for PIDA financing.
PIDA Interest Rate Lowered to 2%
Lyle Hosler2017-07-31T10:41:42-05:00Published on July 31st, 2017|