MetroAction provides small business loans in northeastern Pennsylvania.
MetroAction loan products range in size from a minimum of $1,000 to a maximum of $100,000. Interest rate, term, and loan amount are determined by the funding source used for the loan.
- The business must be located in MetroAction’s nine-county service area. This includes the Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill, Susquehanna, Wayne, and Wyoming.
- Applicants must be at least 18 years old
- Applicants must be legal US residents
- Applicants must have a credit score greater than 500
- The business must have less than 100 employees and less than $3 million in annual sales.
The loan fund is intended for the start up or expansion of a small business and is not intended for the purchase of personal or non-business-related items.
- Loans to members of the staff, Board, and Loan Review Committee of MetroAction and The Greater Scranton Chamber of Commerce with the exception of the Lackawanna County COVID Recovery Loan Program;
- Loans to entities owned by the above persons and their immediate family members;
- Loans to companies for the purpose of speculative real estate transactions nor to companies whose primary line of business is in speculative real estate;
- Unsecured loans for more than $10,000;
- Loans to individuals/entities engaged in illegal, disreputable or otherwise questionable activities decided by the loan review committee;
- Loans for investments, speculation, or to extend credit to other parties;
- Loans to non-profit organizations;
- Any business that has caused a prior loss to the government unless the delinquent federal debt or prior loss to the government is fully satisfied. Satisfaction must be verified by CAIVRS.
If you have any questions regarding our loan programs,
please contact Lisa Olenick at (570) 342-7711 ext. 151