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Business Financing

MOBIL – Monroe County Business Improvement Loan 

MOBIL is revolving loan program that makes up to $100,000 available to small businesses in Monroe County who are looking to expand and create/retain jobs. The funds can be used for acquisition, construction, infrastructure/site preparation, machinery/equipment, working capital and related costs including but not limited to professional services, engineering, inspections, fees, insurance, environmental assessment, legal costs and closing costs.  Program Documents can be downloaded here:

PDF logo Click here for the MOBIL Program Guidelines

PDF logo Click here for the MOBIL Program Application

Click here for the MOBIL Application Checklist

Click here for the MOBIL Project Narrative Outline

Pennsylvania Industrial Development Authority

The PIDA provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs and for the development of industrial parks and multi-tenant facilities. Loan applications are packaged and underwritten by a network of certified economic development organizations (CEDOs) that partner with PIDA to administer the program. PMEDC is the CEDO in Monroe County and interested applicants should contact us directly at (570) 839-1992.

Building PA

Building PA provides funding for the development of real estate assets within the Commonwealth. Funds will be loaned to experienced private sector real estate funds that will raise matching funds and invest in projects throughout the Commonwealth. PMEDC has been approved as a fund manager for the Building PA program. Contact Chuck Leonard at PMEDC for more information.

First Industries Fund

Agriculture and tourism are two of Pennsylvania’s largest industry segments. Historically, the Commonwealth has provided little in the way of financial incentives to owners of tourism-related businesses or assisted farmers with their capitalization or working capital needs. First Industries provides low-interest loans for these important industry sectors.

Keystone Innovation Zones

Keystone Innovation Zones (KIZs) are designated zones that may be established in communities that host institutions of higher education. These zones are designed to foster innovation and create entrepreneurial opportunities. By bringing together education, community and economic development initiatives, local municipalities and businesses can focus on creating an environment to support company growth and formation.
Click here to find information on the Pocono Mountains KIZ

Research and Development Tax Credit

Research and new product development are cornerstones to broader economic growth. From manufacturing to drug discovery, the Commonwealth can be an active agent in stimulating both academic and private research as well as moving the fruits of that research into the marketplace. The increase of the R&D tax credit to $30 million from $15 million and allowing credits to be traded will help.

Monroe County Revolving Loan Fund

Monroe County has created an industrial/business revolving loan fund administered through PMEDC and the Redevelopment Authority of the County of Monroe to provide low-interest, partial financing for eligible businesses and industries in designated portions of the county. The program can fund machinery or equipment, working capital, product development and pollution control equipment. Other uses can be considered on a case by case basis. The maximum loan amount is $100,000. Contact PMEDC directly for details on this program.
PDF logo Click here for the MCRLF Program Guidelines

For a complete listing of business financing programs or to access the Single Application for Assistance, please visit the Department of Community and Economic Development website at www.newPA.com, or call 1-866-GO-NEWPA (1-866-466-3972).

Tax Increment Financing

What is Tax Increment Financing (TIF)?

  • A method of project funding where borrowed funds are collateralized by future tax revenues generated by new development.

Why create a TIF?

  • Stimulates the creation of new jobs
  • Attracts new investment to the community
  • Taxing bodies continue to receive the current tax revenue
  • Generates new Earned Income Tax revenue

What can TIF fund?

  • Typically infrastructure improvements required for a project , such as sewer expansion & repair, storm drainage, road construction and water supply

What is the process for creating a TIF?

  • Step 1: MCIDA makes a formal presentation to School District, Township/Borough and County.
  • Step 2: School District, Township/Borough and County designate a representative to serve on a TIF Committee with MCIDA to discuss and review the details of the project along with the analysis of the revenue to be generated.
  • Step 3: MCIDA submits a recommendation of the boundaries of the TIF along with the project plan to Township/Borough, County and School District. It must be decided which taxing body (the county or the borough) will be the creator of the TIF.
  • Step 4: School District must adopt a resolution and affirmatively agree to participate in whole or in part in the TIF. This vote must occur before the public hearing held by the Township/Borough or the County, whichever is the creator of the TIF.
  • Step 5: Township/Borough or County must hold a public meeting for interested parties to express their views on the proposed TIF. A 30-day notice of the public meeting must be sent to the School District and the other taxing body.
  • Step 6: At least three weeks later, the creating taxing body must adopt an ordinance or resolution to create the TIF.

What is the role of the TIF Planning Committee?

  • They review and provide input on the TIF Plan.
  • Keep their respective boards informed of the process and bring questions back to the committee
  • Decide which entity (the township or county) will actually create the TIF

What TIF is NOT:

  • A tax break or incentive for the developer or company who locates in the TIFdistrict. All property taxes are paid in full by the property owner.

Are there existing TIF’s in Monroe County?

  • Yes, there is one in Pocono Township, one in Tobyhanna Township and one in Smithfield Township.

Are there other TIFs being considered in Monroe County?

  • Yes, there is one under consideration in Tobyhanna Township.  The Pocono Springs TIF Plan in Tobyhanna Township is being developed and will be available at a later date.

Smithfield TIF – TIF Ordinance adopted by Smithfield Township on August 28, 2018.  

Click here to view a copy of the TIF Plan and the Exhibits: Smithfield TIF Plan 

Click here to view a copy of the TIF Plan Exhibits:

Smithfield TIF Plan Exhibits A through H

Smithfield TIF Plan Exhibits I through N

Click here for a Fact Sheet on the Smithfield TIF:TIF Summary and Smithfield Project Overview

Click here to view the July 10, 2018 Public Hearing Presentation:Smithfield Gateway – Township Presentation (7-10-18)