FINANCIAL ASSISTANCE

Revolving Loan Program

NEPIRC administers a U.S. Department of Commerce Economic Development Administration Revolving Loan Program as well as our own internal Revolving Loan Program established by our Board of Directors. Both loan programs can provide your business with term financing for the purchase of facilities, machinery, equipment or other assets needed to expand your business at rates BELOW the prevailing prime lending rate. Contact Donald Olszewski to see how your company can begin its application for up to $100,000 of Revolving Loan Program funds to grow your business.

Project Subsidies

NEPIRC aggressively pursues state and federal grant programs that enable us to offer cost-sharing subsidies to our clients for the performance of projects with NEPIRC staff members or third-party providers selected by its clients. These subsidies immediately lower the cost of each project by either providing cash payments to consultants or direct reducing of NEPIRC’s consulting charges. The availability and amount of these subsidies vary over time, depending on NEPIRC’s success in obtaining subsidy-supporting grants for its clients. Current grant information...

Customized Job Training Grants

NEPIRC has vast experience in helping its clients secure Customized Job Training (CJT) Grants from the Pennsylvania Department of Community & Economic Development (DCED). These grants provide direct funding for any workforce training activities identified within a company’s DCED-approved 3-year employee training plan, which NEPIRC can help you develop and submit to DCED. These grants may pay for up to 75% of training costs, which make them a great way for companies to get the most out of their training budget. NEPIRC specializes in this area and is available to help your company utilize this statewide resource.

Project Financing

NEPIRC offers attractive financing options for clients undertaking significant projects with NEPIRC staff members or an approved third-party service provider. These options are designed to help your company balance its cash flow during the term of the project and use the financial benefits of the project to offset the final few payments. Contact Robert Zaruta, Eric Joseph Esoda or the NEPIRC staff member currently working on your project with us to see if your company qualifies for some of our project financing options.

Other Programs

With over 15 years of experience, NEPIRC has the expertise necessary to identify other programs that may exist to help your company defray the cost of its improvement projects and get you qualified to take advantage of them. NEPIRC has worked with organizations such as the MidAtlantic Employers’ Association Trade Adjustment Assistance Center (MATAAC), NEPA Alliance and local Workforce Investment Boards (WIBs) to secure financial assistance for its clients. As with all of our financial assistance programs, we strive to keep paperwork and “red tape” to a minimum for fast, favorable results. Leverage the knowledge of Robert Zaruta and Charlie Vaccaro to benefit your business.

Distressed Company Program

For businesses experiencing extreme duress, NEPIRC can provide direct assistance by paying for much-needed consulting services rendered by consultants or providing some services at a greatly reduced fee or even, in certain cases, free of charge. Authorized by NEPIRC’s Board of Directors, the Distressed Company Assistance program is an efficient, effective and discrete way for your company to receive financial assistance for critical projects before it reaches the point of layoffs or closure. Companies can contact Robert Zaruta or Eric Joseph Esoda for a confidential discussion of this program.

Commonwealth Initiative Makes Working Capital Funds Available To Manufacturers

PNC Bank recently announced the formation of a Pennsylvania Working Capital Growth Fund developed in conjunction with the Commonwealth of Pennsylvania. This pool of funds is designed to help small Pennsylvania businesses continue to grow by giving them access to revolving lines of credit for working capital needs. Loans made through this program will feature a fixed interest rate at or below Prime Rate for the first year and, in some cases, no loan origination fees. Loans are available to newer, emerging businesses and can range in amount from $10,000 to $2 million. Loan amortization periods will vary from one to seven years.

The Pennsylvania Working Capital Growth Fund can be partnered with any of NEPIRC’s Revolving Loan Programs to create a customized package that fits your unique business needs. For more information on NEPIRC’s Revolving Loan Programs, please contact Donald Olszewski. For additional facts about the PNC Pennsylvania Working Capital Growth Fund, please contact Eric Joseph Esoda at NEPIRC, who will help you locate the PNC representative in your area.