PENNSYLVANIA
Dennis Hall and Jared Grissinger
Pennsylvania Department of Agriculture
2301 N Cameron St
Harrisburg, PA 17110-9405
Telephone: (717) 705-9513 FAX: (717) 787-5643
Website: www.agriculture.state.pa.us
E-mail: jgrissinge@state.pa.us
Organization Began: 1895
Gary W. Smith and Suzanne Milshaw
Chester County Economic Development Council (CCEDC)
737 Constitution Dr
PO Box 959
Exton, PA 19341-0910
Telephone: (610) 458-5700 FAX: (610) 458-7770
Email: gsmith@cceconomicdevelopment.com and smilshaw@cceconomicdevelopment.com
Website: www.cceconomicdevelopment.com
Organization Began: 1960
Program/Project Title: Next Generation Farmer Loan Program
Program Began: March 20, 1998
Contact Person: Jared Grissinger
Cost/Funding: $10 million
Target Group: Next generation farmers
Description: Provide an effective means for federal-state-industry partnerships and provide next generation farmers the opportunity to purchase land and other capital-intensive assets to begin their agriculture enterprise. This collaborative program is a partnership between the Pennsylvania Department of Agriculture and the Pennsylvania Department of Community and Economic Development. The program uses federal tax-exempt finances to reduce a farmer’s interest rate for capital purchases.
Program/Project Title: PAgrows
Contacts: Dennis Hall: (717) 787-2376 — denhall@state.pa.us
Jared Grissinger: (717) 705-9513 — jgrissinge@state.pa.us
Description: Technical assistance initiative to help farmers understand new program opportunities, paperwork on state programs as well as other lenders such as Farm Service Agency, SBA 504, Farm Credit and private lenders to develop the best possible financing package.
Program: First Industries Fund--Machinery and Equipment Loan Fund (MELF)
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Program Began: 2005
Target Group: New and existing farmers, agricultural processing
Description: This program is designed to stimulate growth and assist the retention of business in Pennsylvania by providing low-interest loan financing for a portion of the cost of machinery, equipment and livestock purchases to eligible farmers in the Commonwealth. MELF is administered by the Pennsylvania Department of Community and Economic Development and has been adapted to meet specific needs of farmers.
Program: First Industries Fund--Small Business First Fund (SBFF)
Program Began: 2005
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Target Group: New and existing farmers, ag processors
Description: This loan can be used to acquire land and buildings, construct and renovate buildings, and acquire machinery and equipment. Loan amounts are $200,000 or 50 percent of the total project cost, whichever is less. The term of the loan matches the life of the asset.
Program: First Industries Fund—Loan Guarantee Program
Program Began: 2005
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Target Group: Existing and new farmers; ag processors
Description: The First Industries Loan Guarantee Program provides a 50 percent guarantee on a lending institution’s loan(s) to an eligible borrower. The maximum guarantee amount is $2,500,000 and can be used on loans for land and buildings, machinery and equipment, and/or working capital and can include the refinance of existing debt.
Program: Small Business Administration (SBA 504)
Program Began: 1983
Contact Person: Gary W. Smith and Suzanne Milshaw
Target Group: Existing and new farmers; ag processors
Description: The 504 Loan Program is a fixed asset financing program for expanding farms. It is the first federal financing tool to recognize the importance of small businesses in the job creation process through their physical expansion. The “504” is the Economic Development Program of the U.S. Small Business Administration. A farmer must have less than 500 employees. Net worth must not exceed $6 million and its average net income after taxes for the preceding two years must not exceed $2 million.
Choose another state ...
|
