§ 71.1. Purpose of program.

 (a)  The Machinery and Equipment Loan Fund (MELF) is designed to stimulate the growth of, and to assist in the retention of, Pennsylvania businesses by providing low-interest financing for machinery and equipment to businesses unable to fully finance their projects with equity, bank financing or other private and public sources.

 (b)  The goal of MELF is to increase the competitiveness, productivity and value of Pennsylvania’s businesses, in conjunction with other State and local financing programs and other economic development programs.

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