Need financing support for your business in Allentown? Local financing programs may be able to help. Contact the City's Business Development Department to discuss your business's financial needs. You maybe eligible for financing that can help improve your cash flow, start new projects, or get lower equity requirements.

Different Loan Options:

1. City of Allentown Revolving Loan Programs: In partnership with Allentown Economic Development Corporation (AEDC), the City offers two local funds to qualified borrowers that can be utilized for equipment purchases, real estate, and sometimes for working capital. Job creation is required.

   • Allentown Enterprise Zone Loan Fund: Industrial or Manufacturing Businesses in or planning to be in the Enterprise Zone can apply for up to $100,000 loans. They can use this financing for equipment, buying property, and sometimes for inventory or working money. This program will help finance 75% of the project costs for 1 to 10 years. Job creation is required for this loan. 
   • Allentown Revolving Loan Fund: Any business in Allentown can apply for up to $100,000 loans. They can use this financing for equipment, property, or sometimes for inventory or working money. This program will help finance 75% of the project costs for 1 to 10 years. Job creation is required for this loan.

2. Pennsylvania Minority Business Development Authority: Financing program offered to minority owned business. Loan amounts can reach an upward of $250,000 for eligible project costs. Job creation is required.

3. Allentown Development Company Loan Program (ADCO): This program was originally established with financial support from regional banks and fills a niche that compliments the other Allentown loan funds, for example, when a borrower has a larger financial need than other programs can accommodate.

4. Pennsylvania Industrial Development Authority: Offers low-interest loans that can be used for eligible projects cost including purchase of land and building, construction and renovations, and equipment purchase. Job creation is required. Administered by the Lehigh Valley Economic Development Corporation.

5. Rising Tide Community Loan Fund: Offers loan products to small businesses in our community who have difficulty obtaining financing through traditional lenders.

6. Retail Mosaic: A self-forgiving loan program that offers up to $15,000 to new retail businesses in Allentown for equipment purchases. There are requirements like job creation and remaining in the city for five years. For more details by contacting the Business Development Office.