$7 million in Gap Financing Revolving Loan Funds
Enterprise Zone Revolving Loan Fund
- The Enterprise Zone Revolving Loan Fund (EZRLF) provides low-interest financing to creditworthy businesses that contribute significantly to the area's economy.
- Land and building acquisition, construction and renovations, machinery and equipment purchases, and other expansion projects that result in the creation or retention of jobs qualify for funding.
- EZRLF funding fills the gap between bank financing and an organization's equity.
City of Erie Infrastructure Development Fund
- Low-interest gap financing for infrastructure projects including underground utilities; paving; lighting; fencing; water/sewer improvements; and gas lines
City of Erie Business Development Fund
- Similar to Enterprise Zone RLF
- Can support projects outside of traditional manufacturing
- Interest generated from funds support Flagship Fund Micro-Grant program
Flagship Fund Micro-Grant Program
- The Flagship Fund is the City of Erie's first-ever Micro-Grant program for small businesses
- It was established to provide financial assistance to support market-ready products and services that enhance the City of Erie's reputation for innovation and creativity; contribute to a thriving, sustainable business culture; and improve the quality of life for residents of the City of Erie
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