An Act amending Title 64 (Public Authorities and Quasi-Public Corporations) of the Pennsylvania Consolidated Statutes, in Commonwealth Financing Authority, further providing for Second Stage Loan Program.

HB 1049 establishes Pennsylvania's Second Stage Loan Program, which provides loan guarantees to eligible commercial lenders (like banks) for loans to life sciences, advanced technology, and manufacturing businesses located in the state. To qualify, borrowers must have operated for at least two years, be located within the lender's service area, and demonstrate job creation or retention (e.g., new or retained employees). The program guarantees 50% of a loan's principal for the first two years, reducing to 25% for years three through seven, with lenders required to exhaust all other remedies before claiming under the guarantee. This directly affects participating lenders, their business clients in targeted sectors, and Pennsylvania's economic development goals.