Seedcopa, Southeast Economic Development Company of Pennsylvania (www.seedcopa.com), has created a new partnership with the Philadelphia Industrial Development Corporation (PIDC) to market the U.S. Small Business Administration’s two commercial real estate financing programs in Philadelphia.
The 504 and 7A programs can help businesses purchase, expand, renovate or construct new buildings, make improvements, add machinery and equipment and acquire working capital at below market interest rates. Qualified borrowers can acquire up to 90% financing. While these sources of funding have existed for over 25 years Seedcopa has infused them with a new energy through a user friendly loan packaging service all done by Seedcopa and a new fast track, streamlined approval process that can take a company from signed application to closing in as little as 45 days.
With the vitality and growth of businesses in the City Avenue District, Seedcopa sees the opportunity for helping local firms expand by bringing the SBA’s 504 and 7A programs to them. Local businesses can also take advantage of this opportunity to renew their property, giving their businesses a new lease on life, which also supports the Districts revitalization endeavors. For more information or to discuss a project, contact Harry H. Pennewell, Business Development Officer at Seedcopa at 215-496-8114 or e-mail at firstname.lastname@example.org.