DRIVE Launches New Start-Up Business Revolving Loan Fund

 DRIVE is proud to announce the launch of the Start-Up Business Revolving Loan Fund, a new financing program designed to help entrepreneurs across our region launch and grow their businesses.

Made possible through funding from Geisinger, with Blueprint Development Corporation serving as the program's loan committee, the fund provides supplemental financing of up to $25,000 to eligible businesses. Loans carry a fixed interest rate of 2% plus the prevailing prime rate at the time of closing, with repayment terms of up to five years, paid quarterly.

Funds can be used for a range of business needs, including machinery and equipment, start-up working capital, purchase orders, and other expansion or start-up costs.

The program is open to corporations, LLCs, sole proprietorships, and partnerships located in Columbia, Montour, Northumberland, Snyder, or Union counties. To qualify, applicants must employ 50 or fewer people and have less than $1 million in projected gross revenues. A $200 administrative fee applies at closing, and collateral may be required depending on the loan amount and purpose.

Entrepreneurs interested in learning more or requesting an application can contact Blueprint Development Corporation Program Director Timothy Hippensteel at thippensteel@blueprintidc.org.