Qualified businesses that want to make new investments in equipment, facilities or real estate now can apply for 2 percent, fixed-rate loans through the Pennsylvania Industrial Development Authority.

PIDA loan rates are normally set using a traditional spread above the 10-year U.S. treasury rate and readjusted quarterly, and typically vary depending on the purpose of the loan.The new 2 percent rate is below the market rate and will use a flat rate for all loans.Eligible businesses include: manufacturing, industrial, agricultural processors and producers, research and development, hospitality, computer-related services, construction, child daycare, retail and service, and developers.PIDA is generally able to finance up to 50 percent of eligible project costs with matching funds from traditional lenders such as banks, equity, or other state financing/economic development-based programs.PIDA is a component of the Pennsylvania Department of Community and Economic Development.For more information about PIDA loans or NEPA Alliance business finance programs and services, contact Dave Nat, business finance manager, or Steve Ursich, vice president of Business Development Services or call 866-758-1929.