Cumberland County Industrial Development Authority

(Small Issue Bonds) Tax Exempt Financing

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Eligible Applicants – Tax exempt industries that qualify are:

Manufacturing/Industrial
Nonprofit 501(c)3
Energy
Solid Waste Disposal
Wastewater Treatment
Transportation Facilities
Assisted Living/Housing

Eligible Use – Land/building acquisition, renovation/construction, machinery/equipment, financing costs, and designated infrastructure

Loan Amount – Variable by project, $1million minimum

Interest Rate – Rates average approximately 50% of prime interest rate

Term – Based on a letter of credit and can go as far as 30 years

Equity Requirement – Varies based on project

Job Criteria – There is no job creation/retention criteria at this time

Fees – Non-refundable $500 application fee.  Closing fee of 1/2 of 1% of loan amount due to the Cumberland County Industrial Development Authority (CCIDA).  Other costs generated from the transaction such as the Authority Counsel, Bond Counsel, appraisals, etc. are also the responsibility of the borrower.  There is a $250 annual administrative fee and it covers future costs incurred by the CCIDA as a result of the loan such as accounting fees, annual reporting fees, loan service fees, etc.

For further assistance or additional information, please contact

Angela Aldrich

Economic Development Specialist
(717) 240-7183
angela@cumberlandbusiness.com