The Cumberland Area Economic Development Corporation (CAEDC) helps businesses grow and succeed in one of the fastest-growing counties in Pennsylvania by offering business development loans and other business funding solutions. If you’re considering launching or relocating your business to Cumberland County, CAEDC can help with custom financing options.

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CAEDC has assisted a variety of expanding and start-up businesses in bridging the gap between private investment and total project costs by offering low-interest business loans, fixed-term financing options, and low down payment loans for businesses. Our loans can assist with the financing of real estate acquisition and construction, working capital, and equipment purchases.

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Check out our resource on what to know before applying for a small business loan.

Application Process

Once CAEDC and the partner have decided to pursue a particular program, CAEDC:

  • Assists with application and offers connections for supporting documentation help.
  • Submits application to appropriate program administrative office.
  • Identifies legislators and other stakeholders (see Government Relations below).

After an award has been secured, CAEDC manages the drawdown of funds, monitors loan or grant compliance, and executes audit requirements.

Financing Programs

There are a variety of loan programs available for a range of uses and projects, including economic development loans and state-funded business loans. Below are a few examples of internal and state loan programs that can support your business. Each program has its own uses, and economic development loans usually require job creation. Please get in touch with staff for the best way to determine which program will fit your needs. You can give us a call at (717) 240-7180 or fill out a form.

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Financing Programs

Uses

The Cumberland Revolving Energy Loan Fund (CRELF) provides renewable energy business loans to help businesses in Cumberland County finance energy-efficient retrofits and install small renewable energy systems like solar panels, wind turbines, and geothermal solutions.

The Cumberland Small Business Fund (CSBF) provides low-cost financing for small businesses in Cumberland County to support real estate acquisition, construction, renovations, equipment purchases, and working capital, with a job creation requirement for local residents.

The Industrial Sites Reuse Program (ISRP) offers brownfield redevelopment funding through grants and environmental remediation loans to support site assessments and the cleanup of hazardous substances at former industrial properties.

The Pennsylvania Industrial Development Authority (PIDA) provides low-interest financing options, including land and building financing, manufacturing equipment financing, and business working capital loans, as well as funding for construction, renovation, and energy efficiency projects to support a variety of industries across Pennsylvania.

The Small Business Administration (SBA) 504 Program offers small business loans for real estate acquisition, equipment loans for small businesses, and refinancing loans for small businesses, while also providing long-term, fixed-rate financing for construction, renovation, and major equipment upgrades through a unique loan structure involving private lenders and borrower equity.

The Small Diverse Business Capital Access Program (SDBCA) provides small business capital access through low-interest business loans and lines of credit for minority-owned, woman-owned, veteran-owned, and service-disabled veteran-owned businesses to support projects like real estate acquisition, construction, equipment purchases, and working capital, with job creation and retention requirements tied to funding.

The Tax-Exempt Financing Program provides tax-exempt business loans for industrial development financing and nonprofit projects, supporting eligible uses like real estate acquisition, construction, machinery purchases, and infrastructure improvements, with long-term, low-interest rates that reduce costs for large-scale projects.

The Tourism Infrastructure Loan Fund (TILF) offers tourism business loans and building renovation loans to support hospitality enterprises in Cumberland County, financing projects like land acquisition, new construction, equipment purchases, and site improvements, with low-interest rates and flexible terms.

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