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MCDC Seminar Series: Economic Development Financing

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Montgomery County Community College

West Campus - South Hall Room 221

101 College Drive

Pottstown, PA 19464

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An Economic Development Financing Presentation for Bankers, Real Estate Professionals, and Businesses

  • The current guidelines for the Montgomery County Opportunity Loan Program (MCOLP). MCOLP is designed to be utilized as a traditional economic development “gap financing” tool in conjunction with commercial lenders as well as other public sector and non-profit sector lenders. Successful applicants will work with the MCDC loan officer and their financial institution(s) to fund a project (such as an equipment purchase or a building expansion). The advantages of utilizing MCOLP funding as part of a project’s funding include a reasonable fixed rate and term.

  • The current guidelines for the Pennsylvania Industrial Development Authority (PIDA). The PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of CEDOs that partner with PIDA to administer the program. As the CEDO for Montgomery County, MCDC can work with prospective applicants and their financial institutions to prepare and submit applications for PIDA funding. Terms and rates vary depending on the type of business, the project, and the use of funds.

  • Montgomery County Industrial Development Authority (MCIDA). The MCIDA works with bankers to assist manufacturers, first-time farmers, non-profits (schools, health care organizations, retirement communities and social service agencies) and other qualified borrowers in obtaining low-cost and tax-exempt financing. Qualified borrowers can realize significant savings on their interest costs.

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Montgomery County Community College

West Campus - South Hall Room 221

101 College Drive

Pottstown, PA 19464

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