PIDA Announces Updated Interest Rates The Pennsylvania Industrial Development Authority (PIDA) has announced updated interest rate options for loan applications submitted through December 31, 2024. Who can participate in this loan program? A variety of different industry sectors are eligible for PIDA financing including manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, and computer-related service enterprises. These rates apply to various financing options, including real estate, equipment, and energy efficiency projects. For traditional real estate loans, borrowers can choose between a fixed rate of 4.75% for up to 15 years or a lower initial rate of 3.75% for seven years, which resets afterward. Additionally, loans with a 10-year term and 20-year amortization offer similar rate structures, including a fixed rate of 4.75% or an initial 3.75% for five years with a reset option. PIDA also offers competitive rates for other loan categories. Equipment loans under the PIDA-MELF program carry a 4.75% fixed rate for the full term, while working capital and accounts receivable lines of credit have the same fixed rate for a 12-month period. Businesses pursuing pollution prevention and energy efficiency projects benefit from a significantly lower fixed rate of 2.00% for the loan’s duration, encouraging sustainable business practices. These rate options provide valuable financing solutions for businesses across Pennsylvania looking to expand or improve operations. For more information on PIDA loans or to apply, contact AJ Cimahosky or Lexie Langan in the business development office. AJ Cimahosky: ajcimahosky@scrantonchamber.com | (570) 342–7711 ext. 137 Lexie Langan: llangan@scrantonchamber.com | (570) 342–7711 ext. 136
Bedrock Technology to Hold Electronic Recycling Event Bedrock Technology will hold a electronic recycling event with a portion of proceeds going to the Scranton Area Community Foundation. See flyer below for details.
Scranton Tomorrow Recycling Program Yep. It’s true. We’re spilling the beans on our new recycling program! Did you know … even if you toss your used coffee pods into the recycling bin, they are not being recycled in Lackawanna County? That’s because these convenient little pods can only be recycled if they are fully deconstructed. That’s too labor intensive to be practical. So, they add to the pile in the landfill. Don’t worry. We have a solution! In honor of America Recycles Day on November 15, Scranton Tomorrow’s Safe, Clean & Green Team is launching a program to recycle single-use coffee pods in partnership with the City of Scranton, Lackawanna County, and NeighborWorks of Northeastern Pennsylvania. How you can participate. Through the month of November, simply save your used pods instead of throwing them away. Once you’ve gathered a bunch, contact Steve Ward, Downtown Safe, Clean & Green Ambassador Team Leader at Scranton Tomorrow, at 570.963.5901 or steve@scrantontomorrow.org to make arrangements for drop-off. We’ll send all pods to a specialized recycling facility where components will be separated, the plastic part will be recycled and remanufactured, and the coffee grounds will be composted. Learn More Email Steve Ward to Sign Up Partners The single-use coffee pod recycling program in Lackawanna County is a project of Scranton Tomorrow in partnerships with:
Staples Recycling Customers will get $5 back via Store Bonus when they recycle or shred in store, up to once a month. From PCs and printers to camcorders and coffee brewers (and more), we’ll take your old tech — completely free.
