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Contact AEDC
(610) 435-8890
info@allentownedc.com

Allentown Small business Loan Programs

To learn more about any of the Loan Programs described below, contact Erlinda Aguiar at the City of Allentown, (610) 439-5976 or email aguiar@allentowncity.org. For additional information on State and Federal financial assistance for business relocation and expansion, visit LVEDC's page. Beyond the Lehigh Valley, check BusinessFinance.com.

All loans must be secured by 1st or 2nd mortgage lien on real estate (based upon project impact and priority a 3rd lien position may be considered); 1st lien security interest on equipment purchased. Personal guarantees of business owner(s) required. Applicants receiving funding must be current on all property taxes of the City, County, and School District, City Earned Income Tax, Business Privilege Tax, Business License, Per Capita Tax, Water and Sewer bills, Garbage fees, Municipal liens, and any miscellaneous invoices.

Citywide Business Opportunity Program (CBOP) Loan

Available to commercial building owners or commercial tenants located in the City of Allentown. Applicants may receive between $5,000 and $30,000 ($40,000 maximum loan in strategic planning areas) for exterior façade improvements; structural, mechanical & electrical repairs; landscaping; interior renovations; sign repair or replacement; equipment purchases and energy improvements including weatherization. Recipients pay 3% interest up to 10 years. Funds cover 50% of eligible project costs.

Hamilton Street Façade Loan

Available to all building owners or tenants of properties located on Hamilton St. between 5th St. and 12th St., including corner properties. Applicants may receive between $3,000 and $40,000 for exterior façade improvements or sign repair or replacement. Recipients pay 3% interest up to 10 years. Funds cover 50% of eligible project costs. Click the photo of a project at right to see how it was transformed with a Facade Loan.

Upper Floors for Housing Loan

Available to commercial building owners of properties located on Hamilton St. between 5th St. and 12th St., including corner properties. Applicants may receive between $10,000 and $75,000 for upper floor interior renovation and construction costs necessary to create new living units. Rehabilitation of building elements common to the entire structure will be permitted and ecnouraged. Recipients pay 3% interest up to 10 years. Funds cover 50% of eligible project costs.

Enterprise Zone Loan

Available to businesses located within the Allentown Enterprise Zone. Recipients must create and/or retain jobs that will provide employment for enterprise zone residents and/or otherwise provide tangible benefits to the zone to increase overall economic activity and/or enhance the economic environment within the zone. Applicants may receive between $10,000 and $100,000 for improvements to the real estate including leasehold improvements, equipment, or working capital. Depending on creditworthiness, recipients pay 5.25%-8% interest for 3 to 10 years. Collateral Required. For more information on this loan, please contact Lewis Edwards, (610) 770-1015, or ledwards@thebridgeworks.com.

ADCO Loan

Available to entrepreneurs who start up or expand neighborhood-based businesses that provide goods and services to low-to-moderate income census tracts. Applicants may receive between $10,000 and $100,000 for land & building acquisition, building construction & renovation, machinery & equipment, inventory and working capital. The ADCO Board determines rate and conditions of financing on a case-by-case basis.

Pennsylvania Minority Business Development Authority (PMBDA) Loan

Available to Minority members as defined by the PMBDA. Ownership interest must be at 51% minority. Acceptable borrowers are those that fit in one of the following minority categories: African–American, Native American, Puerto Rican, Spanish–speaking American, Aleuts, Asian Pacific Americans, Asian Indians and Eskimos. Applicants may receive between $20,000 and $50,000 for machinery and equipment, improvements to real estate including leasehold improvements, or working capital and lines of credit. Recipients pay 5-7% interest up to 5 years. Funds cover 75% of project costs. Collateral required.