Bridge Loan

Bridge financing available to companies' projects that have been awarded a public grant and are in need of short-term financing.

The Bridge Loan provides bridge financing for contract receivables, primarily State and City grants.  The program is particularly targeted to assist recipients of the Commonwealth of Pennsylvania’s Redevelopment Assistance Capital Program (RACP) grants.


Interim financing to bridge timing gaps for contract receivables.


Loan Amount Maximum of $3,000,000, depending on calculation of contract-related cash flow needs.
Loan Term Typically one year.  May be extended depending on the length of the contract
Interest Rate to be determined based on credit criteria and market conditions
Underwriting Combination of credit, cash flow, collateral, financial position, management capacity, and industry risk. PIDC will review, confirm, and take an assignment of the contract.


Client submits a completed application to PIDC for staff review, at which time a thorough credit analysis is performed. For applications that receive a positive credit evaluation, the loan is presented to the PIDC Loan Committee and the Board of Directors. Following loan approval, PIDC issues a commitment letter to the applicant. Settlement of the loan may occur once the terms of the commitment are satisfied. The process from application submission to settlement generally takes approximately 60 to 90 days to complete.


Application $500-$750 non-refundable, payable at time of application submission
Standby 1% standby fee, payable upon acceptance of the PIDC commitment letter
Closing Legal and third party costs.  PIDC shall provide an estimate prior to closing


Fees are subject to change 

Confirm all transaction fees with PIDC prior to application.