Pennsylvania Infrastructure Bank (PIB)
Pennsylvania Transportation
Who can apply
Municipality. Other Legal Entity. Business
About this opportunity
The Pennsylvania Infrastructure Bank (PIB) is a PennDOT program that provides low-interest loans to help fund transportation projects within the Commonwealth. The goal of the PIB is to leverage state and federal funds, accelerate priority transportation projects, spur economic development and assist local governments with their transportation needs. Pennsylvania has a low interest loan program for transportation projects. PennDOT's program, The Pennsylvania Infrastructure Bank (PIB) program provides low interest loans for Transportation projects. The maximum term of a loan is 10 years. The PIB can fund up to 100% of the project. The interest rate is set at 1/2 half of the prime federal lending rate when a complete application is received by PennDOT. That federal rate is 7.0% now meaning th...