Machinery & Equipment Loan Fund
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Marketed by the YCEDC, The Machinery & Equipment Loan Fund (MELF) provides low-interest loans to businesses for acquisition and installation of new or used machinery and equipment or upgrades to existing machinery and equipment.

Businesses in the manufacturing, industrial, mining, agricultural processing, agricultural production and information technology and biotechnology industries are eligible to apply for funding. Medical facilities may also use MELF for the acquisition and installation of equipment and technology necessary to comply with FDA requirements regarding pharmaceutical management. All qualified businesses may apply for loans up to $5,000,000 or 50% of total eligible project costs, whichever is less. Rates are currently at 4.00%. The loan term may be up to 10 years, depending upon the useful life of the machinery being financed. Additionally, businesses must create one job for every $25,000 borrowed.

For more information regarding the Machinery and Equipment Loan Fund program, please contact Kenetha Hansen, Vice President, Economic Development, at 717-846-8879 or complete the contact form.