Revolving Loan Fund

The Centre County Economic Development Loan Fund is a unique and valuable tool for businesses located in Centre County who are ready to take their business to the next level. Our revolving loan program offers you the ability to focus on growing your business by providing a much-needed flexible financial resource. Since the program began in 2002, the fund has offered over $5.6M in loans to 30 different businesses.

Our program is designed to provide ongoing support for small businesses by offering a continuous pool of capital that can be lent and repaid, creating a "revolving" cycle of funds. Unlike traditional loans with a fixed amount, a revolving loan fund replenishes as loans are repaid, making it a sustainable resource for multiple businesses over time.

This flexibility allows small businesses to access much-needed capital for various purposes such as expansion, equipment purchase, or working capital. The benefit lies in the continuous availability of funds, enabling businesses to address evolving needs, seize opportunities, and navigate challenges. Revolving loan funds play a vital role in fostering economic growth, job creation, and entrepreneurial development within communities, providing crucial support to small businesses in their journey towards success.



How is this loan program different from other programs and banks?

The Revolving Loan Fund is supported through traditional sources of public financing, (state/federal/SBA) which offer a fundamental level of support for projects. However, the competitive nature of these programs, along with the somewhat complex eligibility requirements, can impose ridged and unrealistic demands on prospective investors/borrowers. Therefore, Centre County saw a need for local businesses by implementing a loan fund that:

  • Is relatively free of stringent rules and regulations.
  • Offers the flexibility that is unique to your business needs.
  • Provides mentorship and technical assistance from community members.
  • Can offer bridge or gap financing that a traditional bank cannot provide.

For guidelines and details about the program, feel free to review our Revolving Loan Fund Guide (LINK).