The CCEDC helps qualified companies identify and obtain low interest loans, grants, tax credits, and loan guarantees.
The CCEDC’s process includes identifying financing needs (purchase of machinery, purchase of buildings or land, construction or renovation of buildings, and working capital), identifying resources/programs to meet these needs, presenting the pros and cons of financing programs, and following through until financing is secured.
To secure financing, companies must define what their project is, what resources they have to finance the project, as well as potential outcomes of the project in terms of number and quality of jobs created or retained over three years.
Existing companies should also have three years worth of financial reports ready, existing and start-up companies should have three years of projection prepared, and closely held companies should have personal financial statements prepared. The Clarion University Small Business Development Center can help eligible companies, both existing and start-ups, prepare projections and business plans at no charge.