DVREDF provides a variety of financing tools for projects in the Pennsylvania counties of Bucks, Chester, Delaware, Montgomery and/ Philadelphia related to promoting and enhancing job growth and community development.
These may include: acquisition loans; pre-development and construction (rehabilitation, leasehold improvements, new construction) loans; permanent financing; equipment purchase; working capital; and bridge loans against grants and government contracts.
LOANS Loans of up to $500,000 are available at flexible terms generally ranging up to 10 years.
Opportunities to extend the term are available at any time, at which time the rate may be reset.
Loans may be amortized over a longer term with a balloon payment.
However, a balloon payment shall not exceed a maximum of 50% of the original loan amount.
Interest rate and terms are all determined based on the project, need, financial capacity of the organization and risk.
Collateral acceptable to the lender is usually required for all loans.
Loan fees will be determined relative to the type and size of the loan prior to the loan commitment.
Delaware Vallery Regional Economic Development Fund
Address: 8 Penn Center, 1628 JFK Blvd, Suite 1600