The Commonwealth Financing Authority recently approved EDC Finance Corporation to receive an additional $10 million of funding for its Building PA loan fund. Building PA loan funds provide subordinate mezzanine financing to economic development projects that involve significant construction in or are adjacent to urban centers in Lancaster County. The loans often carry flexible payment terms and can be used for both owner-occupied and multi-tenant developer building projects. EDC Finance has been a Building PA Fund Manager since 2007 and has utilized Building PA loan funds to lend over $11 million to seven Lancaster County projects over the past eight years.
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