Agricultural Financing Program

First Industries Fund (FIF)

Where to Apply EDC Finance Corporation is the Area Loan Organization for the FIF program in Lancaster County, Pennsylvania. Call 717-397-4046 for additional information or with questions John Biemiller, vice president Lyle Hosler, project manager

First Industries Fund of the Small Business First (FIF-SBF) Program

• Loan program aimed at strengthening PA's agriculture and tourism industries
• Administered through EDC Finance Corporation, Lancaster County’s Area Loan Organization for the FIF program

Eligibility

For-profit enterprises (100 employees or fewer) in the

• Agriculture and Tourism industries including
• Agriculture production
• Food processing
• Urban/rural supermarkets
• Agri waste and fertilizer management
• Farmers’ market
• Hotels/motels/inns
• Tourism services
• Other hospitality establishments

Uses & Purposes of Funding

• Land and building acquisition and construction
• Machinery and equipment purchase and upgrades
• Working capital

Amounts

• Loans up to $200,000 or 50% of total eligible project costs (whichever is less)

• Working capital loan maximum is $100,000 or 50% of total eligible project costs (whichever is less)

Terms

• Interest rate: 10-year U.S. Treasury rate plus 100 basis points
• 15-year term for real estate
• 10-year term for machinery and equipment
• 3-year term for working capital (all rates fixed for entire loan term)

Fees

• 2.0% commitment fee
• $2,000-$2,500 attorney fee
• $150-$300 recording fees
• Title insurance (real estate projects only)

Guidelines

First Industries Fund (FIF) Agriculture Guidelines

First Industries Fund (FIF) Tourism Guideline