Pennsylvania SB1258 amends capital development loan limits for small businesses.

Pennsylvania SB1258 amends Title 12 of the Pennsylvania Consolidated Statutes to increase the maximum loan amount for capital development projects from $400,000 to $2,000,000. This change applies to loans for land, buildings, and machinery and equipment. The bill also specifies that costs incurred in the 12 months before the application submission are included in the total project costs. The act will take effect 60 days after its passage.

Pennsylvania SB1258 amends capital development loan limits for small businesses.

Pennsylvania SB1258 amends Title 12 of the Pennsylvania Consolidated Statutes to increase the maximum loan amount for capital development projects from $400,000 to $2,000,000. This change applies to loans for land, buildings, and machinery and equipment. The bill also specifies that costs incurred in the 12 months before the application submission are included in the total project costs. The act will take effect 60 days after its passage.