The Mission of the College Township Industrial Development Authority is to encourage the growth of new and existing businesses and industrial groups. Correspondingly, the CTIDA will contribute to economic development, create and retain employment, and enable financial, technical, and advisory support for these businesses. Priority for these efforts will be given to existing and potential businesses located in College Township, and then extended to those located in the Centre Region and in Centre County.
Announcing the NEW Loan Guarantee Program
YOU CAN GET A LOAN - AND WE CAN HELP
(Click to download PDF of Loan Guarantee Brochure)
In today's economic climate, it can be difficult for small business owners to acquire the loans needed to grow their established business or for entrepreneurs to acquire the funds needed to start a new venture. Frequently, a borrower's collateral is insufficient to justify a bank lending a full requested amount. At the CTIDA, we know this, and have developed a program to help. We call it our Loan Guarantee Program.
In cases where there is a sound business plan and proposal, the CTIDA may be willing to guarantee part of a borrower's collateral deficiency, thus sharing the risk with the bank. In doing so, businesses get the capital they need, banks have less invested and we follow our mission of encouraging growth in our area. It's a win, win...win!
For more information, click on the PDF icon above. If you would like to inquire about the program, please contact the College Township Industrial Development Authority at 814-206-9224.