Business Financing (Southwestern Pennsylvania Commission)

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Business Finance (Loans)

[ About The Program ] [ Recent Success Stories ]

About The Program

SPC’s Business Finance Program helps entrepreneurs create business opportunities by acting as a public partner to reduce risk for local private sector lenders. SPC works with industrial development corporations and community-based development departments to create comprehensive loan packages that encourage economic investment in Southwestern Pennsylvania. Small businesses come to SPC to obtain lowinterest loans for working capital, machinery and equipment, or real estate to increase business and employment opportunities.

Currently, SPC’s loan portfolio contains more than 159 loans totaling aprincipal balance of $16.3 million, and drawing on funds from ninedifferent state and federal business finance programs. In 2006, SPC used these funds to leverage approximately $10 million in new projects for the region, matching investments with state and federal low-interest loans. SPC closed 21 loans in 2006 and added another $3.2 million to its loan portfolio. Also in 2006, the program helped SPC members retain 453 jobs and create 169 new positions in the region.

SPC carefully reviews every business applying for assistance, analyzing numerous business plans each year. Where we spot problems, our Business Finance Renewal and Turnaround Assistance Program can recommend solutions. This program offers small companies affordable access to experts who can help them with strategic planning, reorganizations, debt restructuring and crisis management.

SPC has a work/fee sharing arrangement with many of our county partners. Our partners meet with the prospective client, discuss the loan programs, and assist the client in submitting applications and working with us to complete the application process. This process keeps the overall program close to the member communities.

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Recent Success Stories

The following are just two examples of the Business Finance Program assisting local businesses. Click on a business name to read the success story:

In addition, SPC closed 26 loans in 2005 and added another $5.3 million to its loan portfolio. In 2005, the Program helped SPC members retain 554 jobs and create 310 new positions in the region.

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For more information about SPC's Small Business Finance Program, contact Richard Wallace at (412) 391-5590 x322 or BusinessFinance@spcregion.org.

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Office Workers Looking At Loan Paperwork