First Industries Fund – Harrisburg Regional Chamber & CREDC

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Quick Reference

Areas Served: Cumberland, Dauphin and Perry Counties.

CREDC provides funding through the First Industries Fund to eligible projects located in Cumberland, Dauphin and Perry Counties.

FIRST INDUSTRIES FUND is the program for Pennsylvania’s two largest industry segments, agriculture and tourism.

This program provides low interest rate financing for farms and owners of tourism-related businesses to help them with the purchase of assets or capitalization needs.

Agriculture and tourism are responsible for the livelihood of thousands of Pennsylvania families.

Pennsylvania’s new economic development initiatives recognize that these two segments are critical contributors to the Commonwealth’s economy and to the regional economy.

Applications for funding through the First Industries Fund for eligible projects in this three county area may be submitted through CREDC.

For assistance with First Industry Funding for projects located elsewhere in Pennsylvania, contact the PA Department of Community and Economic Development at (866) 466-3972. Eligible Businesses Agriculture – Agricultural production – Agribusiness – Wholesale of farm commodities – Farmers’ markets – Rural & urban supermarkets – Energy related activities – Best management practices for waste, fertilizer, etc.

Tourism – Destination sites: historic, heritage, cultural, sporting, amusement, nature, and outdoor recreational – Establishments – Hospitality establishmens in close proximity to a destination site – Businesses that develop and market travel packages – Tourism related activities or events that promote overnight visits in Pennsylvania Eligible Uses – Land acquisition and related costs – Building acquisition, construction, rehabilitation, and related costs.

– Machinery and Equipment – Working capital Amounts – $200,000 or 50% of total project cost, whichever is less – $100,000 or 50% for working capital, whichever is less Terms – 4-5% interest rate – Up to 15 year term for real estate – Up to 10 year term for machinery & equipment – Up to 3 years for working capital – For tourism projects, one job created or retained for every $25,000 borrowed Fees – $500 application fee – 1.50% commitment fee – $900 document preparation fees

Contact Information
Harrisburg Regional Chamber & CREDC
Address: 3211 North Front Street, Suite 201
City: Harrisburg
State: Pennsylvania

Website: http://www.harrisburgregionalchamber.org/reg-edc/bus-finance/loan-program-matrix/first-industries.html

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