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(PPAA) Pollution Prevention Assistance Account

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Pollution Prevention Assistance Account (PPAA): Assists Pennsylvania small business enterprises in implementing pollution prevention and energy-efficient projects, enabling these businesses to adopt or install equipment or processes that reduce pollution or energy use.

A for-profit business enterprise, excluding mercantile and service related enterprises, that has no more than 100 total employees and acquires or installs pollution or prevention or energy efficient equipment or processes is eligible to apply. Eligible types of businesses include: agricultural, industrial manufacturing (research and development), export service, hospitality, defense conversion-related, computer-related services, construction and child care enterprises.

Loans may be up to $100,000 or 75% of the total project cost, whichever is less. Borrower would finance the remaining 25% of the total eligible project cost with proceeds from a private lender or equity from the owners or investors.

Matching lending sources must have equivalent or longer terms. Equipment may be ordered, but not installed or operated prior to the State’s approval of the loan. Loans are offered at an annual fixed interest rate of 2%. The term of the loan can be up to 10 years or the life of the asset, whichever is less. All loans must be secured with a lien position on the asset being financed and the company guarantee. DCED may require personal guarantees of principals as well.

Contact

R. Larry Bossolt, Vice President
Economic Development Corporation of Erie County
5240 Knowledge Parkway, Erie, PA 16510-4658
Telephone: (814) 899-6022 | FAX: (814) 899-0250
E-mail: lbossolt@edcec.org

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