Does not include the Small Business First loan program.

Building Better Businesses Through Lending

Since 1997, MetroAction has been committed to providing flexible small business loans to start-up and expanding small businesses in northeastern Pennsylvania. MetroAction is one of the only non-profit organizations in northeastern Pennsylvania authorized to provide microloans to small businesses through the U.S. Small Business Administration (SBA) and through the U.S. Department of Agriculture (USDA).

MMetroAction specializes in working with people who cannot borrow from a bank due to lack of business experience, credit history or insufficient collateral.

Our Loan Programs

STEP Loan Program: Inspired by the work of Nobel Peace Prize recipient Muhammad Yunus and the Grameen Bank, MetroAction’s STEP Loan Program helps low income people improve their lives by providing access to small business loans and counseling. If you are determined to start or grow your small business and are committed to good credit management, MetroAction’s STEP Loan is the right loan program for you!

Amount: $250 - $2,500
Terms: Range from 6-24 months, with no pre-payment penalty
Interest Rates: Range from 11.49% - 12.99% and are fixed for the term of the loan
Loan Use: Funds can be used for working or start-up capital, to purchase or upgrade equipment, increase inventory, renovations and much more! Our funds cannot be used for personal use.

Small Business Loan Program: The Small Business Loan Program was created to provide loans to small businesses that are not able to obtain bank loans. This program helps small business owners become “bankable” as they grow their businesses.

Amount: $2,501 - $75,000
Terms: Range from 12-60 months, with no pre-payment penalty
Interest Rates: Range from 7.49% - 12.99% and are fixed for the term of the loan
Loan Use: Funds can be used for working or start-up capital, to purchase or upgrade equipment, increase inventory, renovations and much more! Our funds cannot be used for personal use.

Small Business First Loan Program: The Small Business First (SBF) loan program is designed to stimulate the expansion and assist in the retention of small businesses for the purpose of creating new jobs and retaining existing jobs in Pennsylvania. SBF provides low-interest loan financing for a portion of the costs of land, building, machinery and equipment, and working capital to businesses unable to fully finance these projects with equity, bank financing, or other private and public sources.

Amount: up to $200,000 or 50% of project costs
Terms: 3-15 years, depending on use
Interest Rates: Based on market conditions and are fixed for the term of the loan
Loan Use: Funds can be used for land and building acquisition, machinery and equipment, research and development and working capital. Funds cannot be used for personal use.

Who Is Eligible?

There is no typical MetroAction client. Our clients have all encountered similar obstacles to accessing small business financing – no credit history, damaged credit or needing a loan that does not meet the bank’s criteria. And, in today’s economic climate, MetroAction is helping businesses that never had a problem getting bank financing in the past.

We fund all types of small businesses – from pre-start up to existing. MetroAction’s clients range from child care providers to restaurants and retail businesses to manufacturers and agricultural businesses.

MetroAction is the right fit for small business owners who:

• Have a credit score of at least 500
  If you’re not sure what your credit score is, use MyFico’s Credit Score Estimator to get a free credit score estimate. You can also obtain a free copy of your credit report once each year by using AnnualCreditReport.com. There is a small fee to get your credit score, though. If you need help repairing your credit, we recommend you contact Consumer Credit Counseling of NEPA.
• Have not have declared bankruptcy in the past 12 months
• Have not had any late rent or mortgage payments in the past 24 months
• Are up-to-date on all bills
• Exhibit steady cash flow and the ability to support monthly loan payments
• Can provide a cosigner, if needed

Our Service Area

MetroAction primarily services nine counties in northeastern Pennsylvania, including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill, Susquehanna, Wayne and Wyoming.   However, some of our programs can fund businesses in any Pennsylvania county.

Ready to Apply

Applying for a MetroAction small business loan is simple. All applicants must complete a Pre-Qualification Application. This application provides us with an understanding of your financial situation and helps us to determine which small business loan program best suits your needs.

You can apply online or download a Pre-Qualification Application. Once we receive your completed application, MetroAction staff will contact you within 24-48 hours with the next steps.

If you do qualify to apply for a MetroAction small business loan, you will need to complete a business plan and cash flow projections. We have some helpful links, templates and tools available to help you with this.

Refer a Business

As a non-profit organization, MetroAction relies on community support for our small business loan, assistance and award programs. If you have a client that would benefit from one of our programs or services, please refer them to us. MetroAction staff will contact the referral within 24-48 hours.