Pennsylvania HB2207 amends capital development loan limits for small businesses.

Pennsylvania HB2207 modifies the capital development loan provisions in Title 12 of the Pennsylvania Consolidated Statutes. It increases the maximum loan amount for land, buildings, and machinery and equipment from $400,000 to $2,000,000 or 50% of the total capital development project costs, whichever is less. The bill also considers capital development project costs incurred during the 12-month period prior to the application submission as part of the total costs. This change aims to support small businesses by providing more substantial financial assistance for their development projects.

Pennsylvania HB2207 amends capital development loan limits for small businesses.

Pennsylvania HB2207 modifies the capital development loan provisions in Title 12 of the Pennsylvania Consolidated Statutes. It increases the maximum loan amount for land, buildings, and machinery and equipment from $400,000 to $2,000,000 or 50% of the total capital development project costs, whichever is less. The bill also considers capital development project costs incurred during the 12-month period prior to the application submission as part of the total costs. This change aims to support small businesses by providing more substantial financial assistance for their development projects.