The Benefits of Partnering With CAEDC for Business Financing

Operating a business in Pennsylvania is a rewarding experience. Making customer connections, spreading the word about your offerings and building a brand from scratch are worth getting excited about.

First, though, you need to consider your finances. Funding for your startup or business expansion might make it easier for you to accomplish your goals.

Financing Options to Consider

Cumberland Area Economic Development Corporation (CAEDC) helps Cumberland County businesses select funding strategies that make sense for your business, which means you don’t have to navigate the process alone. Options for financial assistance include:

• Business loans: A small business loan is a sum of money that needs to be repaid later. When you apply, a financial institution reviews your credit score to approve lending for a specific amount. Your business might invest these funds in machines, equipment, tools, inventory, building renovations, or permits.
• Business grants: Your business might also apply for grants. These are forms of government funding that support an entity’s ambitions for the local community. Grants don’t need to be repaid, making them especially advantageous for new and expanding businesses.
• Business incentives: Some outlets offer incentives, like tax exemptions or financial rebates, to encourage certain financial behaviors. These could range from creating new jobs to using renewable energy sources in the workplace.
• State and federal programs: Some state and federal organizations provide financing plans to help eligible businesses thrive during the startup or expansion process. These programs usually come from a desire to stimulate the local economy.

Why Work With CAEDC for Consultation Services?

CAEDC provides expert consultation services to local businesses looking to organize financing. Our staff are well-versed in navigating the application process for small business loans and grants in Pennsylvania. Whether your business is trying to relocate, build a new facility, or build out its workforce, CAEDC is here to assist you with your financing options.

We cater our services to key industries in Cumberland County, including education, food, health care, manufacturing, military, tourism, and transportation. You can work with us to complete the right applications for your business, reduce rejections, and get the funds you need.

CAEDC Helps Your Business With Obtaining Loans

At CAEDC, we specialize in helping businesses get the financing to achieve goals with many available loan options that may feature low interest rates, flexible terms, and reasonable down payments. Businesses in Cumberland County secure loans through CAEDC for everything from real estate, machines, land, and working capital to environmental assessments, remediation efforts, commercial renovations, and new construction projects

Guiding You Through the Loan Application Process

CAEDC professionals make securing loans straightforward. We’ll connect you to a dedicated point of contact who will discuss your ambitions for a new business endeavor and match you to a program that makes sense for your goals.

Our experts have firsthand experience moving clients through the loan application process. Talk to us about where to find loan application documents — we can answer all your questions regarding the support documents needed to finish the application process.

Your completed application must be reviewed by the corresponding program administrative office before an award is given. Count on CAEDC to verify your organization meets compliance standards and is prepared for auditing.

How CAEDC Supports Businesses in Securing Grants

Your business can turn to CAEDC for assistance throughout the grant acquisition process. First, you’ll communicate with one of our representatives so we can learn more about your company’s vision. We’ll assess your position, industry, and offerings to decide on a strategy.

CAEDC has firsthand experience with projects surrounding government relations, state and federal grant programs, and tourism grants. Here are a few of the grant programs we can assist you with:

• Redevelopment Assistance Capital Program (RACP)
• Multimodal Transportation Fund (MTF)
• Industrial Sites Reuse Program (ISRP)
• Local Share Account (LSA)

Contact CAEDC for a Personalized Consultation

We have a long list of success stories you can review to see the difference CAEDC makes for Pennsylvania businesses.

Learn more about how CAEDC can assist you when starting a new venture. Contact us to set up a personalized consultation today.