Scranton’s Small Business Relief Program will be providing $560,000 supporting small businesses to overcome the temporary loss of revenue caused by the COVID-19 pandemic.
Funds will be divided between grants and loans.
“Through the Scranton City Small Business Relief Program, we’re supporting small businesses across Scranton that are suffering because of COVID-19 and the significant impacts it has had on our community,” the city said. “We reached out to city business organizations to develop this program and to fill critical gaps for small companies. The city is committed to supporting our local economy through this uncertain time.”
A total of $275,000 will be provided for Small Business Relief Grants. Qualifying businesses will receive $2,500. There is no minimum requirement for the number of employees, but annual revenue must be no more than $1 million.
A total of $285,000 will be provided for Small Business Relief Loans. Each qualifying business will receive between $3,000 and $20,000. There is no minimum requirement for the number of employees, but annual revenue must be no more than $3 million.
Businesses must be locally owned, not a franchise, for-profit, and located within city limits to qualify for the Small Business Relief Grants and Loans.