Text Box: SCEDC prohibits discrimination                                 in all its programs and activities on the basis of race, color, 
national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status.  Persons with 
hearing disabilities who require alternative means for
communication of program 
information should call the state relay service number for 
TTY/TDD at 800-654-5984.
Text Box:  
  Somerset County Economic
  Development Council
  125 North Center Avenue
  P.O. Box 48
  Somerset, PA  15501
  814-445-9655
  email:  contact@scedc.net
  www.scedc.net

Are you a tourism

business seeking

to access funds for a project?

Have you had

difficulty locating

a source for low

interest financing?

Find out if you qualify for the Tourism Micro-Revolving Loan Fund through…

 

 

 

 

 

 

Contact SCEDC for more

information.

 

PHONE

814-445-9655

EMAIL

contact@scedc.net

 

 

Text Box: SOMERSET COUNTY
TOURISM
MICRO-REVOLVING LOAN FUND










TOURISM BUSINESS
LOAN PROGRAM

 

ELIGIBLE

APPLICANTS

 

   Any full time tourism related

   business in Somerset County

 

   Tourism business that is a

   current member of Somerset

   County Chamber of Commerce

   & Laurel Highlands Visitors

   Bureau

   

INTEREST RATE

 

 

   Fixed 5% interest

   rate

 

 

USE OF FUNDS

& TERMS

 

    Machinery & Equipment -

 up to 5 years

 

    Inventory - up to 2 years

   

    Working Capital - up to

 2 years

 

     Building Improvements -  up to

  5 years

 

 

LOAN AMOUNT

 

   50% of Total Project Cost  up to $10,000

 

 

FEES

 

    Application Fee - $50 to

    SCEDC with submission

    of Application, along with

    the credit report fees

    (non-refundable)

 

     Closing Fee - $150/$200

     to SCEDC and UCC filing

     fees

 

     Legal Fee - All expenses

     necessary to complete

     the transaction will be the

     responsibility of the client

 

COMMENCEMENT

CLAUSE

 

   Project may not commence (without prior approval) until the application has been

   approved.

 

ITEMS NEEDED FOR

LOAN APPLICATION

 

    w Financial Statements

 

    w Business Plan

 

    w Letters of Commitment

 

    w Documents to Substantiate

          All Project Costs

 

 w Fees

             

    w Completed Loan

          Application