JARI is proud to operate as a resource for companies of all capacities by facilitating Redevelopment Assistance Capital Programs (RACP), verifying Keystone Innovative Zones (KIZ)/ Keystone Opportunity Zones (KOZ), and providing extensive technical assistance to ensure business success.

As a certified Community Development Financial Institution (CDFI) and Certified Economic Development Organization (CEDO) in Cambria and Somerset counties, JARI provides assistance in capital growth through two loan programs: JARI Microloan and JARI Growth Fund. Whether you are looking to start a business, relocate your company, or expand your operation, JARI can help identify loans, grants and other investment vehicles for research and development, construction, equipment, inventory, working capital, land acquisition and more. If funded, JARI provides ongoing business support through technical assistance. If funded, JARI provides technical assistance to all borrowers.

Programs

JARI Microloan

As a U.S. Small Business Administration-approved microlender, JARI’s Microloan Program provides loans up to $50,000 for equipment, inventory, working capital, and more.

JARI Growth Fund (JGF)

As a certified CDFI, JGF provides loans up to $100,000 to support the growth of a diverse economy and build vibrant communities.

Johnstown Industrial Development Corporation (JIDC)

JIDC, JARI’S affiliate organization, owns and manages three industrial parks: Johnstown Industrial Park and Johnstown Business Park in Cambria County, and Quemahoning Industrial Park in Somerset County.

JARI is proud to be a conduit for many local, state and federally funded programs including SBA 504, PIDA, and RACP.

$10.5 million+

Since launching the loan program, over $10 million in funding has been distributed to small businesses throughout the region.

Checklist for Funding

  • Client intake form – Online or PDF

  • Loan Application – Online or PDF

  • Authorization for Credit and Background Check – PDF

  • Personal Financial Statement – PDF

  • Business Plan or Narrative

  • List and documentation for items in loan request

  • 3 year projections (Balance sheet, profit and loss statement) for startups

  • 1 year projections (Balance sheet, profit and loss statement) for existing companies

  • 3 year tax returns for existing businesses

  • 3 year personal tax returns for all owners/guarantors

Frequently Asked Questions

We finance both new and existing businesses across all industries. We specialize in funding businesses that banks shy away from, so there is no business too small, or business idea too crazy for us (as long as it is legal)! It is our goal to help entrepreneurs and business owners from diverse backgrounds – including those from traditionally under-served groups and clients with barriers (such as low-credit or criminal backgrounds). In some cases we can also fund non-profit entities.

JARI & JGF have several loan programs available to our clients, each of them with a cap of $50,000. Depending on the specifics of your project, we can finance up to a maximum of $100,000 by combining our loan funds. If your project is larger than that, we can work with other financing partners (banks, etc) to fully fund your project, regardless of its size.

We use several factors to determine the interest rate for our borrowers. All of our loans will be in the range of 5.00 – 7.75%. In addition, funds can be borrowed for a maximum of 6 years (72 months).

We use a variety of things to score the project including credit score, management experience, overall risk of the industry, job creation/retention, overall cash flow and the new owner’s knowledge of the product.

Check out our checklist to see all the documents required for loan review.

We have staff who can help with that! Reach out to our Entrepreneurial Coach for specialized assistance.

We do loan review once per month – typically, the 2nd week of the month. In order to go in for loan review, we will need all the documentation by the 1st day of the month. During that time in-between, staff will review your application and reach out to you to discuss your project and make sure your business goals align with ours.

During the week of loan review, you will be given a ‘go’ or ‘no-go’ decision by our loan review board. If you are given a ‘go’, you will then receive a commitment letter that outlines all the terms and conditions of the loan. Once that letter is signed and sent back to us, we can start to draft the official loan documents with our  attorney. That process typically takes 4-6 weeks to complete and funds can be disbursed as soon as those documents are signed.

Unlike a traditional bank loan, funds are not automatically disbursed to your account when approved. Here, we hold the funds for you and pay expenses on your behalf. We have found this process successful for two reasons. First, it keeps the lines of communication open on how the project is going and how the projected budget compares to actual costs. Second, if your actual expenses are lower than expected, we can actually reduce your loan size, saving you money in the long-term.

Contact us with your questions or to find out more about our programs!

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