Bucks County Unveils Low-Interest Loan Program for Farmers

Bucks County's Industrial Development Authority has unveiled a new low-interest loan program for farmers. We've typed up the contents of the program's brochure below.

About the Taste & Tour Loan Program

The Taste & Tour direct low interest, micro-loan financing program was developed for the farming, agribusiness, and tourism communities in support of family-owned farms, farmers' markets, community-supported agriculture programs and other direct producer-to-consumer market opportunities, as well as the tourism and the hospitality industries in Bucks county. Taste and Tour Bucks County has a total of $250,000 that may be invested in such projects at below market interest rates.

Funding Eligibility

Taste & Tour loan funds are available for operating costs associated with an existing or newly formed agricultural, hospitality, or tourism business-related entity. Financing is limited to for or not-for-profit proprietorships and residents of Bucks County. There is no minimum loan amount; the maximum loan amount is generally $35,000. The loan may represent up to 8 percent of the total project costs. The length of the loan and the other terms will be subject to negotiation with the Bucks County Industrial Development Authority (BCIDA). Funds will be awarded by the BCIDA in cooperating with the County of Bucks.

Project Eligibilitiy

Examples of eligible projects for program financing are:

  • Working capital
  • Machine & Equipment
  • Livestock, feed, and seed
  • Commodity production, processing, marketing or distribution
  • Minor improvements or repairs to buildings and other structures
  • Infrastructure improvements (i.e. electric, water, sewer)

Loan funds cannot be used to finance the following:

  • Acquisition of land and buildings
  • Lease or refinancing of existing debt

Application Requirements

Eligible applicants must submit a Project Narrative which describes why the funds are needed, how they will be used, and the measurable benefits that will result. The following is a list of additional application requirements.

  • Application - Completion of the BCIDA Loan Fund Application
  • Project Budget Narrative - Provide a narrative description for each budget line item, as found in the BCIDA Loan Fund Application addressing each line by funding sources. Only costs associated with this project should be included in the budget.
  • Project Map - Map (s) of sufficient size and quality to describe the project location (if applicable).
  • Project Timeline - Provide a project timeline that tracks the key activities and the dates necessary to achieve the project's goals and objectives.
  • Cost Estimates - Provide an estimate of how much the project will cost. The estimate should be from a credible third party, such as a vendor or contractor.

For additional information on Taste & Tour Bucks County as well as other financing programs, please contact:

Bucks County Industrial Development Authority
11 Welden Drive, Suite 100
Doylestown, Pennsylvania 18901
P: 267-880-6071
F: 267-880-6584

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