The terms of an EnergyWorks loan depend on the specifics of each project and will be negotiated by The Reinvestment Fund (TRF), the Philadelphia Industrial Development Corporation (PIDC) and the borrower, but the general loan features are:
|Loan Amount:||$100,000 to $2.5 million|
|Interest Rate:||As low as 3.5%|
|Loan Term:||7 years or as negotiated with the applicant|
|Collateral:||Security for loans will be negotiated on a case-by-case basis|
|Legal Fees:||Typically range from approximately $2,000 - $3,000, and are due upon settlement|
|Origination Fee:||1.5% of the financing amount provided, payable upon settlement|
Fees are subject to change. Please confirm all transaction fees with PIDC/TRF prior to application.