Overview

The First Industries Fund (FIF) is a program aimed at strengthening Pennsylvania's agriculture and tourism industries through loans and loan guarantees. The program is administered by the Department of Community & Economic Development (DCED) under the direction of the Commonwealth Financing Authority (CFA).

Note: The program guidelines refer to grant funding for planning and pre-development activities. However, all grants funding has been exhausted and applications for grant funding are no longer being accepted.

Guidelines

First_Industries-AGRICULTURE_guidelines-2011.pdf

First_Industries-TOURISM_guidelines-2011.pdf

Uses

Loans and Loan Guarantees: Land and building acquisition and construction, machinery and equipment purchase and upgrades, working capital.

Funding

Loans: First Industries Small Business First (SBF) Program for Tourism and Agriculture loans up to $200,000 or 50 percent of total eligible project costs, whichever is less.

First Industries Machinery and Equipment Loan Fund (MELF) Program for Tourism and Agriculture loans up to $500,000 or 50 percent of total project cost, whichever is less.

Loan Guarantees: 50 percent of outstanding principal balance up to $2.5 million - Grants: Up to $250,000.

Eligibility

Please refer to program guidelines for eligible applicants for loans and loan guarantees.

Terms

Interest rate is fixed at 3 percent until June 30, 2013.

How to Apply

Loans: Area Loan Organizations for First Industries SBF; Customer Service Center and Electronic Single Application for Assistance for First Industries MELF.

Loan Guarantees: Enrolled lending institutions – (Lending institutions wishing to enroll should contact DCED’s Center for Private Financing at 717-783-1109).