business financing through the cbicc
To promote the growth and development of business in Centre County, the CBICC offers a multitude of financing options. From life-sciences to land and building acquisitions, no matter the need, the Chamber will help identify, facilitate and manage programs and resources available to your business. Programs may be local, regional, state or federal. For additional information, contact Mary Resides at jennifer@cbicc.org or 814 234-1829, ext. 4.
The CBICC/CCIDC Loan Fund:
The CBICC/CDICC Loan Fund provides funding for projects that may not be eligible for traditional funding. The fund assists eligible companies that are located or willing to locate in Centre County, providing funding for acquisition of land/buildings, rehabilitation, leasehold improvements, machinery/equipment or working capital. To be eligible, majority ownership must be U.S. citizen and engaged in employment producing projects. Collateral may include a lien position on real estate and/or equipment, in additional to personal guaranty of any principals owning 20 percent or more of the business. Maximum loans are typically $100,000 with terms not exceeding 10 years determined by use of funds and useful life of the asset collateralizing the loan.
TTY/TTD only: Use PA Relay 7-1-1
The Centre County Industrial Development Corporation is an Equal Opportunity Provider and Employer. In accordance with federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability. (Not all prohibited bases apply to all programs.) To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, DC, 20250-9410 or call 800 795-3272 (voice) or 202 720-6382 (TDD).
Information about Pennsylvania Business Assistance Programs and their guidelines can be found here.
The CBICC/CCIDC Loan Fund:
The CBICC/CDICC Loan Fund provides funding for projects that may not be eligible for traditional funding. The fund assists eligible companies that are located or willing to locate in Centre County, providing funding for acquisition of land/buildings, rehabilitation, leasehold improvements, machinery/equipment or working capital. To be eligible, majority ownership must be U.S. citizen and engaged in employment producing projects. Collateral may include a lien position on real estate and/or equipment, in additional to personal guaranty of any principals owning 20 percent or more of the business. Maximum loans are typically $100,000 with terms not exceeding 10 years determined by use of funds and useful life of the asset collateralizing the loan.
TTY/TTD only: Use PA Relay 7-1-1
The Centre County Industrial Development Corporation is an Equal Opportunity Provider and Employer. In accordance with federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability. (Not all prohibited bases apply to all programs.) To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, DC, 20250-9410 or call 800 795-3272 (voice) or 202 720-6382 (TDD).
Information about Pennsylvania Business Assistance Programs and their guidelines can be found here.
