Overview
The Pennsylvania Infrastructure Bank (PIB) is a PennDOT program designed to provide low-interest loans and lines of credit to help fund transportation projects in the commonwealth.
The PIB offers a way to get money at a low cost to help pay for projects. The money can be used to speed up building work or to finish paying for a project.
The interest rate for PIB loans is set a half the prime lending rate. The loan term, or time you have to pay back the loan, can last up to 10 years.
The current PIB interest rate is 3.875%.
Additional resources:
The PIB Handbook (PDF) provides an overview of:
- The PIB Bank
- How to apply for a loan
- Information about loan approval and disbursement
- Borrow responsibilities
The PIB Brochure (PDF) provides a quick overview of how the PIB bank works. It provides as examples of the types of projects financed by PIB.
How to Apply for a PIB Loan
There are five key steps to the loan application process through PIB to fund a transportation project.
- Application
- Evaluation
- Approval
- Execution
- Funds Disbursement
You can apply for a loan at any time. PIB reviews applications on an ongoing basis. You can submit online loan application.
If you have a Keystone account, you can use that to login to the application. If you don’t have a Keystone account, you can create a new account and then start the loan application process.
What type of projects are financed?
Most capital projects are eligible. Construction projects receive the highest priority for funding.
Examples of eligible projects include, but are not limited, to:
Aviation
- Runway, taxiway, apron, terminal and hangar construction
- Land acquisition, equipment procurement and obstruction removal
- Access roads
- Airport lighting
Highway/Bridge
- Road construction and resurfacing
- Bridge rehabilitation and replacements
- Traffic signals and signal upgrades
- Drainage structures
- Stormwater management
- Municipal roadway and bridge maintenance equipment
- Complete streets
- Intermodal facilities
Rail Freight
- Rail track improvements
- New sidings
- Rail/street crossings
- Rail bridges and infrastructure
Transit
- Capital purchases
- Buildings
- Intermodal facilities
Who can apply for a PIB loan?
The people and organizations that can borrow money from the PIB include:
- Cities
- Townships
- Boroughs
- Counties
- Transportation authorities
- Economic development agencies
- Not-for-profit organizations
- Private corporations
Contact us
Hugh J. McGowan
PennDOT, Program Development and Management
P.O. Box 3365
Harrisburg PA 17105-3365
Phone: (717) 787-5798
Fax: (717) 787-5247
Email: hmcgowan@state.pa.us