The First Industries Fund is a loan, loan guarantee, and planning grant program aimed at strengthening Pennsylvania’s tourism and agriculture industries.
Planning Grants - Planning grants of up to $250,000 per project are available to pay for the cost of predevelopment activities and/or feasibility studies for tourism-related projects to expand a facility and/or operations or to establish a new enterprise. Planning grants can be used to pay for the costs associated with: marketing, physical, and financial feasibility assessments and projections; planning and engineering design and cost estimates; impact analysis; and other work or activity deemed by the CFA as appropriate, including obtaining technical information related to the project.
Loan Guarantees — Loan guarantees of up to $2.5 million or 50% of the outstanding principal balance, whichever is less, are available for for-profit business enterprises and non-profit organizations engaged in tourism-related activities obtaining a loan from a commercial lending institution or community development financial institution.
Loans — Low-interest loans are available for tourism-related small businesses and certain public/private partnerships under the First Industries Small Business First (SBF) Program for Tourism and Agriculture (see Section IX of the SBF guidelines) and the First Industries Machinery and Equipment Loan Fund (MELF) Program for Tourism and Agriculture (see Section III of the MELF guidelines). Loan amounts of up to $200,000 or 50% of total eligible project costs, whichever is less, are available for land, buildings, machinery and equipment , and up to $100,000 or 50% of total eligible project costs, whichever is less, for working capital.