1. Business Finance Assistance Program Mission Statement
To help small, for-profit businesses:
Finance their expansion
Maintain and increase employment
Start-up operations
To promote economic development within the nine-county region of southwestern Pennsylvania that we serve
MTAP is a self funded program at SPC to assist municipalities in meeting or getting started with their technological needs. Ex.) help to fund the purchase of a website, software classes. This program is being re-started and outreach concerning the deliverables are being determined as we speak
Broadband outreach is being done with Act 183 as guidance, to help get our rural municipalities broadband access.
LTAP is PA DOT training for road crew personnel on a variety of topics such as paving/salting routes/traffic signals and signage and other safety such as chainsaw safety.
Energy Savings is a new program being developed to assist communities with identifying energy saving initiatives such as LED signal conversion, general building lighting and weatherization and so forth. All done with an initial step of Utility Bill Analysis, which will comprehensively show energy consumption/usage based on 24 months of energy billing. Ultimately leads to the use of a state
Qualified Energy Savings Company, where the ESCO details a “plan of attack” for a municipality to achieve guaranteed energy savings.
General Technical Assistance…just call, and through staff experience we can always help with research and offer advice and lead you in the right direction.

2. Contact Information
Southwestern Pennsylvania Commission
Two Chatham Center, Suite 500
112 Washington Place
Pittsburgh PA
Ed Nemeth ext –322
Todd Stranko ext –350
Sarah Francis ext –318

3. Small Business First Purpose
Purpose
Provides low interest financing for land and building acquisition and construction, machinery and equipment purchases, and working capital to businesses unable to fully finance projects with their own equity, bank financing, or other private and public sources.

4. Small Business First, cont.
Loan Limits
$200,000 or 50% of the total project cost, whichever is less
$100,000 for Working Capital
Term
15 years – Land and Buildings
7-10 years – Machinery/Equipment
3 years – Working Capital

5. Small Business First, cont.
Rate
Currently at 4.0% fixed, per annum
Matching Financing
Private sector or equity match is required

6. Small Business First, cont.
Eligible Uses
Land, Building acquisition, construction, or renovation; Machinery and equipment purchases and upgrades (including installation costs) and working capital needs.

7. Small Business First, cont.
Eligible Applicant
For profit manufacturing enterprises; Industrial enterprises; Agricultural processors; Mining enterprises; Export-related, advanced technology, and computer-related services; hotels, motels or restaurants (must be open at least five years and employ at least five full-time employees); Construction enterprises; Child day care facilities, Assisted Living facilities; Municipal or commercial recyclers; and U.S. Department of Defense-related projects; Excluded Entities Include all retail, service, or professional services not specifically listed above, *except in the event of a corporate headquarters.

8. Small Business First, cont.
Collateral
Loans are to be secured by a lien positions on collateral at the highest level of priority that can accommodate the borrower’s ability to raise debt and equity capital.
Generally, personal and corporate guarantees are required.

9. Small Business First, cont.
Application Requirements
Must have 100 or fewer full-time employees, including parent, subsidiaries and affiliates, at the time of application.

10. Small Business First, cont.
Other Requirements
Professionally prepared financial statements
Past three years Federal Tax Returns.
Commitment letters from all other sources of funding.
Sufficient cash flow to meet the debt service.
Creation or retention of one new full-time equivalent job for every $25,000 borrowed, within three years of disbursement of the loan proceeds.
Key person life insurance, in most instances, will be required.