The SEDA-COG Telecommunications, Equity, and Marcellus Shale (TEAM) is a revolving loan fund available to for-profit corporations, limited liability companies, partnerships, sole proprietorships or other legal business entities located within the Commonwealth of Pennsylvania and having 500 or fewer full-time employees worldwide at the time of submission of the application. The TEAM loan program will focus on manufacturing, service, or retail businesses engaged in promoting broadband technology and communications and businesses involved in Marcellus Shale activities. The program can also be used to offset part of a borrower's equity requirement in a project involving another SEDA-COG loan.
Loans can be made up to $250,000 or 50% of the eligible project costs, whichever is less. For loans made toward a borrower's equity injection, the loan amount will be up to 50% of the borrower's minimum required equity injection as defined by the accompanying SEDA-COG loan provided in the project or $250,000, whichever is less. The minimum loan amount is $25,000.
Loans are available to businesses within SEDA-COG's core 11-County region or Statewide if paired with an SBA 504 loan through SEDA-COG.
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