Business Resources

Financial Resources 

As the designated Economic Development Agency for the Kane Area, the KAIDC assists businesses in developing the most competitive financing programs for acquisitions, expansions, new product development, and working capital. Depending upon your specific businesses circumstance, the following programs may be available to assist your business to become more competitive and prosperous. 

If you believe any of the programs listed here could be helpful to you, please contact us at (814) 837-6565 or kanepa.chamber@verizon.com so that we can discuss your circumstances and how we can be of assistance. 

Public Financial Resources
Local Public Resources
  • McKean County Industrial Development Authority Revolving Loan Fund – Administered by the McKean County Industrial Development Authority, this program provides to businesses within McKean County.
  • North Central Pennsylvania Regional Planning and Development Commission-      The North Central Loan Program is set up to support businesses for capital development projects that will create or save jobs. The loan programs can finance capital improvements in an amount up to $200,000, or 40% - 50% of the project cost, whichever is less. Businesses that are eligible to apply for financing include: manufacturing, industrial services, warehousing, distribution, tourism and agriculture.
Commonwealth of Pennsylvania – Financing Resources for Manufacturers
The Pennsylvania Department of Community and Economic Development (DCED) is the primary agency providing economic development resources at the state level. Information on their programs is available at www.newPA.com . The following programs are the most frequently used in business development.
  1. Small Business First – Provides low-interest financing for land and building acquisition or construction, machinery and equipment acquisition, and working capital.
  2. Pennsylvania Industrial Development Authority (PIDA) - Provides low-interest, participating financing to eligible businesses for acquisition and development of land for industrial use.
  3. PA Economic Development Financing Authority (PEDFA) - Issues taxable and tax-exempt Revenue Bonds to finance land, buildings, equipment, working capital, and refinancing.
  4. Machinery and Equipment Loan Fund (MELF) – Provides low-interest loans for acquisition and installation of new or used machinery and equipment, or for the upgrade of existing machinery and equipment.
  5. Export Finance Program (EFP) - Provides loans to existing companies to assist with the export of goods or services.
Commercial Financing Opportunities in McKean County 

County National Bank
87 Fraley Street
Kane, PA 16735
Hamlin Bank and Trust Company
34 Fraley Street
Kane, PA 16735
(814) 837-8200

Northwest Savings Bank
56 Fraley Street
Kane, PA 16735
(814) 837-6080
http://www.northwestsavingsbank.com
 
Business Assistance Programs 

The KAIDC assists businesses within the Kane area in maximizing their competitive position through coordination with numerous local, state, and federal agencies specializing in key business sectors. Some of these resources include:
  1. Clarion University Small Business Resource Development Center
  2. University of Pittsburgh Bradford Business Resource Center
  3. Industrial Resource Centers (IRC) – Provides customized services and solutions to manufacturers for operational, technological, and workforce issues.
  4. Ben Franklin Technology Partners - Regional centers provide funding through various investment funding mechanisms to support new products or new processes (Research and Development), and a range of services to businesses to introduce or develop new technologies.
  5. North Central Regional Planning and Development Commission
In addition to these resources, the Kane Area Development Center can provide assistance with the development of business and marketing plans. For additional information contact our office at (814) 837-6565.
 
 
Manufacturing Tax Credits 

Administered and approved by the Commonwealth of Pennsylvania, the following credits may be available to your business:
  • Job Creation Tax Credit - Provides Pennsylvania Tax Credits to eligible companies that create 25 or more full-time jobs or increase employment by 25% within three years.
Research and Development Tax Credits - Allows employers qualifying for the Federal Research and Development tax credit to receive 10% tax credit for increased research activities in Pennsylvania.