Free virtual event for bankers, accountants, lawyers, and other interested partners at 10 a.m. on Tuesday, September 20, 2022.
PA – The Montgomery County Commerce
invites bankers, accountants, lawyers, and other
interested partners to attend a virtual forum on the economic development
finance tools available to support business growth and investment. The virtual
event will take place at 10 a.m. on Tuesday, September 20, 2022. To register
for this free event, click here
will have the opportunity to learn the latest on programs including the
MontcoForward Loan Program, C-PACE, and the IDA’s tax-exempt bond financing.
Presentations will be made by Dave Zellers, Director of Commerce; Rebecca
Swanson, Executive Director of the Montgomery County Redevelopment Authority
(RDA); and Merle Ochrach, Solicitor for the Montgomery County Industrial
Development Authority (IDA).
financing programs available to Montgomery County businesses include:
The MontcoForward Loan Program is designed to help businesses
grow, increase their productivity, and maximize the value of their investments
in Montgomery County. Businesses and their banks are encouraged to contact the
Commerce Department to discuss how best a loan from this program can be
incorporated into funding a project.
The program can provide up to $1,000,000 for qualified projects that meet the program’s flexible parameters.
Fixed rate and fixed term (varies by use of funds).
Pennsylvania Industrial Development Authority (PIDA) provides low-interest
loans and lines of credit to businesses that commit to creating and retaining
full-time jobs in Pennsylvania through projects including property and/or
Interest rates tied to the 10-year Treasury (varies by use of funds).
The program can provide up to $5,000,000 for qualified projects (varies by use of funds) and job-creation requirements.
The Montgomery County Industrial Development Authority (MCIDA)
assists eligible entities with meeting capital needs for large-scale projects.
The MCIDA process is designed to secure significant capital at competitive
rates for borrowers and benefit the lender through the utilization of
Montgomery County passed a resolution to adopt Pennsylvania’s
recently expanded Commercial Property Assessed Clean Energy (C-PACE) program in
August 2022. Through the C-PACE program, Montgomery County commercial
businesses, agriculture interests, and nonprofits can finance clean energy and
water efficiency projects with long-term and low-cost financing. The newly
expanded program also allows for the financing of improvements to multi-tenant
residential properties as well as improvements to all eligible properties that
increase environmental resiliency and HVAC enhancements.
partners, and stakeholders interested in learning more about these financing
programs are encouraged to attend the virtual financing forum on September 20,