Small Contractor Line of Credit Program

The Small Contractor Line of Credit Program supports city-based operating construction, architectural, and engineering companies take on projects that require access to working capital.

Loan Amount and Term

Borrowers are able to receive financing for 50% of their pending contract amount up to $100,000.

The initial loan will be 4%, with a default rate of 6% and term of 5 years if the initial financing is not repaid within at least one year of closing. There is no prepayment penalty. If it is repaid, the borrower is able to receive another 4% loan based on additional underwriting and construction contract review. 

Interest and Fees

There is a $350 application fee paid annually for each renewal and a 2% administrative fee paid. The interest rate is 4% for the first loan term.

Applicants Must:

• Have a proven track record of project completion by providing three project references, as requested
  
  
• Obtain appropriate permits and business registration from the City of Pittsburgh
  
  
• Have between $50,000 - $2,000,000 in annual revenue
  
  
• Be in good standing with public debt and up to date on taxes
  
  
• Undergo inspections at intervals throughout the course of the project
  
  
• Have appropriate business registrations with the City of Pittsburgh
  
  
• Provide evidence of business insurance and surety bonds in formats and amounts acceptable to the URA
  
  
• Not have an ownership interest in the project
  
  

Priority will be given to MWDBE owned businesses and businesses bidding on projects within one of the seven Avenues of Hope business corridors.

Program Materials

Program Guidelines

Application & Inquiries: Please email Lynnette Morris, Lending & Investments program assistant, at lmorris@ura.org or call 412.255.6622.