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 prepare companies for the fund’s application process, offer education on the terms and conditions of the loan and review allowable uses of funds, including:
- Working capital, such as equipment purchases and building expenses
- Research and development costs
- Technology improvements and advancements
Mon Valley Manufacturing Fund at a Glance
Eligibility For-profit manufacturing and industrial businesses located in (or relocating to) the Mon Valley area, exclusive of the City of Pittsburgh.
Loan Limit Maximum loan of $150,000 or 50 percent of the total project costs, whichever is less.
Application 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 Loans are secured by lien positions on the assets being financed, and the company guarantee. Additional personal guarantees and other collateral may be required.
Term Three- to ten-year repayment period.
Rate Fixed at two percent below prime with a minimum rate of 5 percent.
Mon Valley Manufacuting Fund requires your company to submit these documents with your loan application:
- Business and management histories, descriptions of business capabilities and personal resumes
- A three-year history of business financial statements, tax returns, accounts receivable, and accounts payable
- Interim financial statements no more than 90 days old
- Income statement projections and cash flow projections for at least one year
- Personal financial statements and tax returns
- Loan-related project descriptions and anticipated benefits
- Itemized project costs