CLEARFIELD – The Clearfield County Industrial Development Authority (CCIDA) has announced this year’s competitive grant solicitation to assist with industrial and economic development projects in Clearfield County.
The Infrastructure Grant and Non-Profit Loan Fund Programs are made possible as a result of the CCIDA’s continued success in growing and turning over commercial loan funds from its traditional loan program.
The loan program has assisted dozens of local companies expand while creating and retaining jobs in Clearfield County.
The revolving loan program has been utilized for industrial expansion projects relating to machinery and equipment purchases, facility expansions and technology-based upgrades for businesses throughout Clearfield County.
“Since 2006 the CCIDA’s competitive grant program is truly unique to north central Pennsylvania and arguably, the entire state of Pennsylvania, explains Rob Swales, chief executive officer, Clearly Ahead Development.
“Due to continuing success of the CCIDA’s revolving loan fund program, the lending pool and recapture rate have grown proportionately over the years to support a spin-off competitive grant program for economic development projects on an annual basis in Clearfield County.”
The non-profit loan program provides funding opportunities below “Wall Street Journal” prime lending rate for eligible entities.
The grant program and Non-Profit Loan Fund were created to respond to the community’s need for supplemental sources of local financing to support municipalities, units of local government, educational facilities, non-profit corporations, hospitals and public agencies within Clearfield County. For-profit entities are not eligible.
The deadline for this year’s grant and non-profit loan pool is July 20. Complete guidelines may be found at the Clearly Ahead Development’s Web site, www.ClearlyAhead.com, or by calling the CCIDA office at 814-768-7838.
