Small Business Loans

Building Better Businesses Through Lending

Since 1997, MetroAction has been committed to providing flexible small business loans to start-up and expanding small businesses. Our team has closed over $7 million in loans to businesses located in northeastern Pennsylvania.

MetroAction is more than just a lender. Our team works hand-in-hand with our loan applicants and borrowers to provide the support needed to grow strong, thriving businesses in our community.

We are 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). We are certified by the United States Department of Treasury and accredited by the Commonwealth of Pennsylvania as a Community Development Financial Institution (CDFI).

Our Loan Programs

MetroAction specializes in providing term loans to start-up and expanding businesses. Our loan programs were developed to be flexible as it pertains to credit, collateral requirements and credit scores. In addition, MetroAction can partner with a local bank or lending institution to provide a complete loan package.

Small Business Loan Program

Amount: $2,500-$75,000
Terms: Up to 5 years. No prepayment penalty.
Interest Rates: Range from 7.00% – 8.79%, 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, renovate a business and much more! Our funds cannot be used for personal use.

Luzerne County Small Business Loan Program

Amount: $2,500-$100,000
Terms: Up to 10 years. No prepayment penalty.
Interest Rates: U.S. Treasury with a 10 year maturity plus 1% and is fixed on the date of closing
Loan Use: Funds can be used for working capital, real estate acquisition and construction, equipment purchases and upgrades, environmental compliance, and pollution control and prevention. Only Businesses located in Luzerne County are eligible for this loan program.

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Basic Eligibility Criteria:

There is no typical MetroAction client. Our portfolio includes manufacturers, retail businesses, Attorneys, Doctors, Contractors, etc. and spans all business cycles from start-up businesses to multi-generational 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 usingAnnualCreditReport.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 24 months
  • Have not had any late rent or mortgage payments in the past 12 months
  • Are up-to-date on all bills
  • Exhibit steady personal and or business cash flow and the ability to support monthly loan payments
  • Can provide a cosigner, if needed

Ineligible Business Uses:

Businesses engaged in the following business activities are deemed ineligible to participate in our lending program:

  • Gaming
  • Multi-level Marketing
  • Speculative Real Estate
  • Adult Oriented

Our Service Area

MetroAction primarily services nine counties in northeastern Pennsylvania, including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill, Susquehanna, Wayne and Wyoming.

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 tutorials, 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.

Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.