Economic Development

The Office of Community Development, Economic Development is instrumental in ongoing revitalization of the entire City of Scranton.  As a conduit for public and private development, our office is here to provide resources and possible funding opportunities.  The City understands a thriving community is good for business and residents alike and why we have made great efforts for relocation of both residents and businesses through our “Work From Here” initiative.

As the City of Scranton welcomes the millions of dollars invested in renovation of historical buildings we see our downtown district growing each day with residential living, restaurants and cultural events.  Our office fully supports the public and private investments taking place in West Side, the Iron District and Pine Brook sections of town. 

Visit ScrantonWorks.org to learn more about all economic development activities, many with our partners.

Revolving Loan Fund (EDA-RLF)

Revolving loan funds (RLFs) make loans to businesses that cannot otherwise obtain traditional bank financing. Applicants must be private, for profit businesses.  Borrowers must demonstrate that credit is not otherwise available on terms and conditions that permit the completion or successful operation of the activity to be financed. The maximum EDA loan amount will be $250,000 however loan can be no more than 30% of the total project costs.

Loan to Grant Program (HUD)

This federally funded gap loan program was developed to enhance job creation by providing assistance to existing businesses looking to expand, for starting up a new business, or for businesses looking to relocate to Scranton.  As per the U.S. Department of Housing and Urban Development (HUD) guidelines, borrowers must create one full time equivalent job for every $35,000 borrowed.  If job creation and guidelines are met, the loan can transfer to a grant, with no repayment necessary.

Visit www.scrantonworks.org for more information Loan to Grant Program (HUD)

This federally funded gap loan program was developed to enhance job creation by providing assistance to existing businesses looking to expand, for starting up a new business, or for businesses looking to relocate to Scranton.  As per the U.S. Department of Housing and Urban Development (HUD) guidelines, borrowers must create one full time equivalent job for every $35,000 borrowed.  If job creation and guidelines are met, the loan can transfer to a grant, with no repayment necessary.

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