Interest Rate Reduction

In order to spark economic growth and job creation in Pennsylvania some business loan rates have been reduced.  The Department of Community and Economic Development making the announcement Wednesday.  Four business loan programs will see a reduction in rates: machinery and equipment loan fund, the small business first program, pollution assistance program and the export financing program.  The rates will drop from 2.75% to 1.5%.  The new rate will apply to applications received through June 30th.