montcoworks: MCDC Micro Loan Fund

Montgomery County, PA

P.O. Box 311, Norristown, PA 19404-0311
Courthouse Hours: 8:30a.m. to 4:15p.m.
Phone: 610-278-3000
Website: www.montcopa.org

MicroLoan Fund
The Montgomery County Development Corporation's MicroLoan Fund makes loans to new and emerging businesses in Montgomery County.
 
Who Qualifies:
  • Retail businesses with $0-$1 million in sales
  • Service businesses with $0-$1 million in sales
  • Manufacturing businesses with $0-$2 million in sales
For How Much: $5,000 - $30,000
 
At What Terms:
  • Fixed at prime rate plus two (2) percentage points
  • Up to five years maximum term
For What Use:
  • Working capital
  • Inventory
  • Machinery
  • Equipment
  • Furniture
  • Fixtures
  • Leasehold Improvement
  • Real Estate.
  • Not for delinquent tax obligations.
Lending Institutions:  A consortium of lending institutions make the MicroLoan Fund possible.
 
Each lender:
  • Appoints a representative to the loan committee that reviews and approves applications
Current lenders include Harleysville Bank, Citizens Bank, Montgomery County Development Corporation and Montgomery County Industrial Development Authority.
 
Micro Loan Application Process:
Click here for the application (you must have Adobe Acrobat to access), print, complete and mail to:
Montgomery County Development Corporation
P.O. Box 311
1430 DeKalb St.
Norristown, PA  19404
 
Once you complete and mail the application, an administrator for the Micro Loan Fund will contact you.  In addition to the application, you will need:
  • A copy of your business plan
  • One year pro forma statement
  • Personal tax returns for three years
The loan committee must approve the loan with a two-thirds majority.
Questions?  Email us at montcoworks@mail.montcopa.org
 
2006 MicroLoan Loans
2005 MicroLoan Loans
  • Anderson Welding ($22,750)
  • Generations Craft Boutique ($6,500)
2004 MicroLoan Loans
  • Capone's Restaurant
    East Norriton Township
    $30,000 to finance site improvements.
  • Hiway Cycle and Machine, Inc.
    Hatboro Borough
    $30,000 MicroLoan for working capital.