Business Real Estate Loan Rates Now As Low As 2%

By Colin McEvoy on August 12, 2019

Growing Lehigh Valley companies can now take advantage a tremendous incentive: rates as low as 2% for real estate and equipment loans.

The state of Pennsylvania has provided updated interest rates for its Pennsylvania Industrial Development Authority (PIDA) program, which provides low-interest loans for eligible businesses that commit to creating and retaining full-time jobs.

Low interest rate PIDA loans are provided through Lehigh Valley Economic Investment Corporation (LVEIC), a Pennsylvania certified economic development organization.  Lehigh Valley Economic Development Corporation (LVEDC) provides administrative support to LVEIC.

“PIDA is an excellent program that enables crucial access to capital for businesses that create or retain jobs in the Lehigh Valley,” said Curt Hoyak, chair of the Lehigh Valley Economic Investment Corporation. “LVEIC and LVEDC are here to minimize the burden and assist companies with the PIDA process, so you can keep your focus on day-to-day business operations.”

For more information or to seek assistance in applying for a loan, request a consultation on the Lehigh Valley Economic Development Corporation website at

The new lower interest rates are in effect for loan applications received through September 30, 2019, according to the Pennsylvania Department of Community & Economic Development.

Projects eligible for PIDA financing include:

  • Land and building acquisition
  • Construction and renovation costs
  • Machinery and equipment purchases

Eligible industry sectors include:

  • Manufacturing & industrial
  • Agricultural processors & producers
  • Research & development enterprises
  • For-profit medical facilities
  • Hospitality enterprises
  • Computer-related service enterprises
  • Construction & developers

Companies in the Lehigh Valley have been benefiting from low interest rate PIDA loans with assistance from LVEDC or its affiliates for over 60 years.

For example, a manufacturer recently leveraged a $1.1 million PIDA loan to purchase a building, consolidating rented office in New Jersey and manufacturing space in Pennsylvania, and creating 15 jobs in Lehigh Valley.

In another example, a different manufacturer relocated from rented space in New Jersey to a new facility in Lehigh Valley, using a $252,000 PIDA loan to purchase the building, creating nine new jobs.

Lehigh Valley International Airport to Receive $20 Million in Grants

The Lehigh Valley International Airport (LVIA) will receive more than $20 million in federal grants to support runway improvements, pavement rehabilitations, and other inf[...]

Continue to Next Page

Lehigh ValleyQuick Facts

By the Numbers
$41.2 Billion

2018 Gross Domestic Product

Investor Spotlight
City Center Lehigh Valley
Industry Spotlight

10.6% of Labor Force
Employed in Manufacturing

By the Numbers
$3.8 Billion

Exports in 2019

Investor Spotlight
Air Products
By the Numbers

Median Household Income

Investor Spotlight
PPL Electric Utilities
By the Numbers


Investor Spotlight
By the Numbers

Labor Force

Investor Spotlight
Lutron Electronics
Industry Spotlight

26.1% of Labor Force
Employed in "Eds & Meds" sectors

By the Numbers

Technology Patents

Investor Spotlight
Mack Trucks
Investor Spotlight
Investor Spotlight
Industry Spotlight

14% of the total community college degrees awarded in PA

By the Numbers
$7.3 Billion

Manufacturing Contribution to GDP

Investor Spotlight
Industry Spotlight

69th largest metropolitan area in the U.S. by population

Investor Spotlight
Industry Spotlight

10,754 degrees awarded by Lehigh Valley colleges (2017-18 academic year)

Investor Spotlight
Industry Spotlight

85,000 employed in "Eds & Meds" sectors

By the Numbers

Population between ages 18 and 34

Investor Spotlight
Workforce Board