Financial Programs: Mon Valley Manufacturing Fund
The Mon Valley Manufacturing Fund is helping to underwrite the renewal and growth of the manufacturing industry in southwestern Pennsylvania's Mon Valley communities through financial assistance and support that is seeking to expand the job base in this region.
Catalyst Connection is pleased to be part of this revitalization by helping area manufacturers obtain funds through this program. Our advisors provide technical assistance for the fund's application process and review allowable uses of funds, including:
- Working capital, equipment purchases, leasehold improvements and building expenses
- Research and development costs
- Training and technology improvements
The Fund At A Glance
Eligibility - For-profit manufacturing and industrial businesses located in or relocating to the Mon Valley area of Allegheny, Fayette, Washington and Westmoreland Counties, exclusive of the City of Pittsburgh.
Loan Limit - Maximum loan of $200,000 or 50 percent of the total project costs, whichever is less.
Fee - For loans under $50,000, $250 application fee plus closing costs; for loans over $50,000, ½ percent application fee plus closing costs.
Collateral - All loans are secured with lien position on collateral financed and/or company guarantee. An additional personal guarantee and other collateral may be required as deemed necessary.
Term - Three to ten year repayment period.
Rate - Fixed at five percent.
Application Process - The following materials must be submitted for review:
- Business and management history, capabilities and personal resumes
- A three-year history of business financial statements, tax returns, accounts receivable and accounts payable
- Interim financial statements that are not more than 90 days old
- Income statement projections and cash flow projections for at least one year.
- Personal financial statements and tax returns
- Project descriptions and anticipated benefits
- A complete itemization of project costs
CONTACT: Art Tintori, Managing Director, Financial Services, 412.918.4221