Financial Incentive Services

The Riverside Center for Innovation (RCI) is certified by the Pennsylvania Economic Development Institute to offer financing services for the Pennsylvania Department of Community and Economic Development. RCI staff will work with you closely to identify the available finance and incentive programs to assist your business to grow in our region.

The Pennsylvania Industrial Development Authority (PIDA) provides low-interest loans to Industrial Development Corporations (IDCs) for eligible businesses that commit to creating and/or retaining jobs for land and building acquisitions, constructions and renovation, industrial park development, and multi-tenant spec building construction.  PIDA funding may be used in conjunction with other state financing programs or with programs operated by the state wide economic development network of local economic development providers. All loan applications for PIDA financing must be submitted through an IDC.  For more information, please click here.

The Machinery and Equipment Loan Fund (MELF), provides low-interest loan financing for a portion of the cost of machinery and equipment purchases or upgrade existing machinery and equipment to eligible businesses that commit to creating or retaining jobs within the Commonwealth.   Machinery and equipment acquisition and upgrading and related engineering and installation costs directly related to the business process.  MELF may be used in conjunction with other state financing programs or with programs operated by local or regional economic development providers.   Applicants must be for-profit business enterprises including medical facilities.  For more information, please click here.

The Small Business First (SBF) loan program is designed to stimulate the expansion and assist in the retention of small businesses for the purpose of creating new jobs and retaining existing jobs in Pennsylvania. SBF provides low-interest loan financing for a portion of the costs of land, building, machinery and equipment, and working capital to businesses unable to fully finance these projects with equity, bank financing, or other private and public sources.

SBF may be used in conjunction with other state financing programs or with programs operated by local and regional economic development providers. While the Pennsylvania Department of Community and Economic Development (DCED) has overall administrative responsibility for the SBF program, all loan applications are packaged, closed, and managed by a network of Area Loan Organizations (ALOs).   For more information, please click here.

The Enterprise Zone Tax Credit program is an incentive program that provides tax credits to private companies investing in rehabilitating, expanding, or improving buildings or land located within a designated enterprise zone.   Real property improvements such as rehab, expansion or physical improvements to building or land resulting in jobs created or retained.   For more information, please click here.

Other state financing programs can be researched at Pennsylvania Department of Community and Economic Development. To view these, you can click here.

Other Local Funding Sources: