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Information and Application Instructions

The Program: The primary goal of the Lehigh and Northampton Counties Revolving Loan Fund (RLF) is the creation and retention of permanent jobs. 

To view the Application, click here.

Program Requirements: 

The following is a brief description of the eligibility requirements:

  • Each $10,000 borrowed will require the creation of one permanent full-time job. 
  • RLF participation shall not exceed a $1:$2 ratio for the total project financing. 
  • Owner equity shall comprise a minimum of 10% of total project financing. 
  • Minimum loan $10,000; maximum $50,000.
  • A maximum of 30% of the RLF participation can be used for working capital. 

Types of activities to be financed include:

  1. Land acquisition, including costs for engineering, legal, grading, site-work, and other related costs. RLF participation in land acquisition activities will require a firm commitment that development will begin within a six-month time period. 
  2. Professional services including real estate, engineering, architectural, legal, and related costs. 
  3. Closing costs. 
  4. Costs relating to activities which would accelerate the recycling and rehabilitation of land, buildings and other facilities for job creation or assistance to firms to locate or expand in such facilities. 
  5. Local share costs for other federal or state programs, as allowed within the lending limits of the RLF. 
  6. Machinery and equipment costs including equipment related to pollution control and improving energy efficiencies. 
  7. Costs associated with site development. 
  8. Working capital.
 
Fees for RLF Application: 
  • $100 Non-refundable application fee, checks made payable to Lehigh & Northampton Counties Revolving Loan Fund 
  • $500-750 Legal fee (these are the average range; additional fees as appropriate) 
  • 1% Settlement fee 
     

Approval Process: Each project will be reviewed for compliance with the above criteria and evaluated based upon established credit policies. The board of the RLF will have final approval authority. 

Additionally, since this program is funded by various government sources, the applicant will be required to certify compliance to various federal and local laws and or codes. 
 
Application Instructions: All sections of the application must be completed. If additional space is necessary, attatchments must be properly labeled. The inclusion of a Business Plan as part of your submission is encouraged and will address many of the individual Exhibit items listed in Section VI of the Application. Questions concerning the application or the program and completed application packages should be directed to: 
 
Christine S. Cleaver, Administrator 
Lehigh & Northampton Counties Revolving Loan Fund, Inc. 
Lehigh University 
125 Goodman Drive 
Bethlehem, PA 18015-3700 
(610) 758-5803