Access to Low-Cost Loans Available

The Pennsylvania Industrial Development Authority (PIDA) offers fixed-rate loans as low as 3.75% for growing eligible Lehigh Valley businesses for land and building acquisitions, construction and renovations costs and machinery and equipment acquisitions. These rates are in effect through March 31, 2023. For complete program guidelines, click here.

PIDA provides low-interest loans through Pennsylvania’s Certified Economic Development Organizations (CEDOs). LVEDC provides administrative and staff support to the Lehigh Valley’s CEDO, Lehigh Valley Economic Investment Corporation.

Contact LVEDC at 610-266-6775 or email [email protected] for details.

COVID-19 Financing Options

Municipal, state and federal agencies are providing financing assistance to small businesses impacted by the COVID-19 pandemic. Many programs have closed. This page provides important information and connections with special government financing programs, as well as regular financing options available through LVEDC and the Lehigh Valley Lending Network.

Lehigh Valley COVID-19 Relief Grant Program

Reimbursable grants of $10,000 to $100,000 for COVID-19 related expenses incurred by small businesses in the Lehigh Valley between Jan. 20, 2020 and Dec. 31, 2022. The program is administered by the Small Business Development Center at Lehigh University. Click here for details and to apply.

All applications received by Nov. 30, 2022, will be evaluated equally. If funds remain available after the application window, awards will be made on a rolling basis. Applications will close when available funds have been distributed or on Dec. 31, 2022, whichever comes first.

Northampton County COVID-19 Relief Small Business Grant Program

Northampton County partnered with the Greater Lehigh Valley Chamber of Commerce on a small business grant program to distribute American Rescue Plan funds to assist Northampton County businesses with 100 or fewer employees. The county has about $4 million in funds remaining to distribute to small businesses

Grants of up to $15,000 are available to eligible businesses. Applicants must operate primarily in Northampton County and file a Pennsylvania tax return. Click here to apply.

Lehigh County CARES Act Tourism Grant Program

Lehigh County is using federal CARES Act funding to provide grants for tourism-related businesses in Lehigh Valley. The grant program is administered by Lehigh County in partnership with Discover Lehigh Valley. For-profit and non-profit tourism businesses of any size that have been negatively affected by the COVID-19 pandemic may apply.

Paycheck Protection Program

The Paycheck Protection Program (PPP) closed May 31, 2021. PPP borrowers can find information about loan forgiveness and other financial assistance programs on the Small Business Administration (SBA) website.

  • The SBA will forgive loans if borrowers met employee retention criteria and used funds for eligible expenses.
  • Borrowers receive full loan forgiveness if they spend at least 60% of their PPP loan on payroll costs over a time period of their choosing, between 8 and 24 weeks.
  • Any PPP loan amount not forgiven becomes is repayable over five years at 1% interest.
  • PPP loan forgiveness expenses are tax-deductible.
  • Recipients of EIDL grants do not have to deduct the grant amount from their PPP loan forgiveness amount.
Quick links:

Other SBA Programs

The COVID-Economic Injury Disaster Loans (EIDL) program is no longer accepting new applications as of Jan. 1, 2022.

The SBA is providing automatic Debt Relief to businesses with existing 7(a), 504 and Microloans. Borrowers do not need to apply for debt relief assistance.

The Lehigh University Small Business Development Center (SBDC) can provide assistance and additional information about SBA programs.

Quick links:

Employee Retention Tax Credit Extended

The Employee Retention Tax Credit of the CARES Act, which was established to encourage employers to keep workers on their payroll, has been extended to cover 70% of qualified wages through Dec. 31, 2021. The per-employee wage cap has been increased to $7,000 in fully refundable payroll tax credits per employee per quarter, or $28,000 for the year.

Employers that received PPP loans are eligible to claim the Employee Retention Tax Credit, although payroll costs used to determine the amount of PPP loan forgiveness may not include costs for which the Employee Retention Tax Credit was claimed.

Links to COVID-19 Programs Now Closed

Lehigh Valley Lending Network

The Lehigh Valley Lending Network (LVLN) is an award-winning, nationally recognized unique partnership of local financial institutions with a goal to create efficiencies in accessing credit and other resources within the private commercial lending community. The Lending Network also provides the client with resources to maximize the use of incentives available through the economic development community and to connect borrowers to a lending network that provides business financing & commercial loans at fixed-rates in Lehigh Valley for machinery, equipment and more.

The LVLN provides a single point of access to allow business financing proposals to be broadcast to many commercial lending institutions simultaneously. Additionally, the financing programs that Lehigh Valley Economic Development Corporation (LVEDC) administers on behalf of the Lehigh Valley’s regional economic development organizations may be marshaled to assist in a given project.

The membership of the LVLN is comprised of private commercial lending institutions serving the Lehigh Valley.



Lehigh ValleyQuick Facts

By the Numbers
$43.3 Billion

2020 Gross Domestic Product

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City Center Lehigh Valley
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10.6% of Labor Force
Employed in Manufacturing

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Lehigh Valley Health Network
By the Numbers
$3.8 Billion

Exports in 2019

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Air Products
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Lehigh Valley Electricians
By the Numbers

Median Household Income

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PPL Electric Utilities
By the Numbers


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By the Numbers

Labor Force

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26.6% of Labor Force
Employed in "Eds & Meds" sectors

By the Numbers

Technology Patents

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Mack Trucks
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Magestic Realty Co
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14% of the total community college degrees awarded in PA

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Wells Fargo
By the Numbers
$7.1 Billion

Manufacturing Contribution to GDP

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

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

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St. Lukes University Health Network
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82,270 employed in "Eds & Meds" sectors

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Workforce Board
By the Numbers

Population between ages 18 and 34

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