On Thursday, October 26, Mayor Paige Cognetti announced $25,000 in grant funding, through five $5,000 microgrants, to assist Scranton businesses. Grants are provided in partnership with the U.S. Department of Housing and Urban Development (HUD) and the Small Business Development Center (SBDC) at the University of Scranton.
The Community Development Block Grant (CDBG) Small Business Microgrant Program is designed to provide between $2,500 and $5,000 in assistance for new or newly established businesses located in Scranton’s low-to-moderate-income demographic areas (LMA). The funds assist local businesses with start-up costs, contribute to their initial success, and foster the revitalization of our community.
“The City encourages new businesses to apply for microgrant funding that can expedite their success,” said Mayor Cognetti. “We look forward to seeing small businesses continue to leverage this funding to build their futures here in Scranton.” Grant recipients, the funding they will receive, and their project details, in alphabetical order, are as follows:
- Alphas Edge is located on the second floor of the Marketplace at Steamtown, 300 Lackawanna Ave., and provides a comprehensive range of supplements that cater to various health and fitness needs. They maintain a diverse inventory of products, including fat loss protein, pre- and post-workout supplements, amino acids, and vitamins. They will use the $5,000 Microgrant towards working capital and procurement of inventory.
- Downtown Cosgrove’s is located on the first floor of the Marketplace at Steamtown, and offers a unique farm-to-table breakfast and lunch menu with all menu items being made from scratch from locally sourced organic meats, fruits, and vegetables. They pride themselves on their diverse menu, prepared with fresh, healthy food, and the offerings of vegan, vegetarian, and gluten-free meal options. The $5,000 Microgrant funding will be used towards the purchase of new kitchen equipment.
- Kind Cutz Barbershop and Salon is located at 344 Adams Avenue and offers haircuts and salon services for men, women, and children. They also offer discounts for seniors and provide discounted or free services for those living with physical and mental disabilities. The Microgrant award of $5,000 will be used towards the purchase of equipment and inventory.
- Sho Laboratories, LLC, located in the Scranton Enterprise Center at 201 Lackawanna Avenue, is a research and development company focused on integrating hardware into newly created products that work with proprietary data collection software. The company is committed to anticipating and solving problems by applying smart and creative technologies in its products. The $5,000 Microgrant funding will be used for working capital.
- Sturdy Candy Shop is a web-based candy vendor in the West Scranton area that creates custom orders for its customers and ships or delivers its products within the Scranton area and beyond. The business also represents itself at local fairs, markets, and community events. The Microgrant funding of $5,000 will be used towards inventory and working capital.
New and newly established businesses are defined as businesses having opened within the last 12 months or planning to open within nine months of application. Applications include a referral from the SBDC at The University of Scranton, which may be obtained after completing an educational program series and business consulting which helps new business owners focus on appropriate business planning to help ensure their long-term viability in the community.
The awarded grant funds can be used towards procuring inventory, equipment, machinery, furniture, and fixtures, and can also help provide working or operating capital for expenses such as utilities, rent and business services like accounting or website development. These funds are awarded to the City through HUD’s Community Development Block Grant Program.
Information and applications for loan and grant opportunities can be found here: scrantonpa.gov/business/loans-grants-tax-credits/
City of Scranton Awards Five Small Business Microgrants | Press Release
Last modified: October 27, 2023
