Areas Served: City of Scranton
OECD administers the Loan Program, which provides loans to small businesses who are located in Scranton or who wish to relocate to Scranton, Pennsylvania.
These loans may be used to acquire real estate, to renovate business premises, to purchase machinery and equipment, inventory and working capital.
This program does not provide venture capital, nor can it be used to satisfy equity needs.
Borrowers must create one job for every $25,000 borrowed and at least 51% of the jobs must be held by low and moderate-income persons ( job creation is calculated on a full-time equivalency basis).
The Greater Scranton Chamber of Commerce is partnering with the City in this effort by offering a low interest loan program to further assist with façade improvements.
This loan can help a property owner meet his/her matching requirement.
Contact InformationScranton Office of Economic and Community Development
Address: 340 N Washington
City: Scranton
State: Pennsylvania
Website:
http://www.scrantonpa.gov/oecd.html
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