Northwest Commission • 395 Seneca Street • Oil City, PA 16301
Phone: 814.677.4800 • Fax: 814.677.7663 •





Maximum Loan
  • RLF and SBF loan programs will finance up to 50% of total eligible project costs or $200,000, whichever is less.

Eligible Uses
  • Land acquisition, preparation and associated expenses
  • Building acquisition, construction, or renovation
  • Machinery and equipment purchases (new or used) and related expenses
  • Working Capital (major expansions only)

Terms
  • Land & Building – up to 15 years
  • Machinery and Equipment – up to 10 years
  • Working Capital – 3 years

Rates
  • Revolving Loan Fund (RLF) rate is four points below prime rate
    (no less than 4%)
  • Small Business First (SBF) rate is set quarterly and will be fixed for the term of the loan.

Fees
  • Temporarily reduced fee to a flat $1,250
  • Loans $50,000 or less = total fee of $450
  • Annual servicing fee of .5% on principal outstanding balance

Other Financing
  • RLF loans require a 1:1 private sector match. At least 10% must be injected by applicant.
  • SBF loans require a 1:1 match


Eligible Applicant
  • Manufacturing or Industrial Business
  • Hospitality Enterprise
  • Commercial & Service
  • Child Day-Care Enterprise
    • Agriculture Enterprise or Agriculture Producer
          



Collateral
  • Must collateralize asset(s) financed
  • Will subordinate lien position to bank
  • Personal and corporate guarantees may be required



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