Small Business First
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Administered by SEDCO, The Small Business First (SBF) program provides low-interest loans for land and building acquisition and construction, machinery and equipment purchases and working capital to small for-profit businesses. 

Small businesses with 100 employees or less in the manufacturing, industrial, research and development, hospitality, defense conversion, recycling, computer-related, construction and child day-care industries are eligible to apply for loans up to $200,000 or 50% of total eligible project costs, whichever is less. The maximum loan amount for working capital is $100,000 or 50% of total eligible projects costs, whichever is less. In conjunction with the SBF loan, applicants must obtain another source of funding equaling at least 50% of eligible project costs. Loan terms are up to 15 years for land and buildings, up to 10 years for machinery and equipment and up to 3 years for working capital. Rates are currently at 4.00%. SBF loans must be secured with the highest lien available on collateral of assets financed and/or other available collateral. Personal guarantees are also required of principals with 20% or more ownership.

For more information regarding the Small Business First loan program, please contact Kenetha Hansen, Vice President, Economic Development, at 717-846-8879 or complete the contact form.