Businesses interested in no-interest loans offered by Wilkes-Barre

WILKES-BARRE — As the Friday deadline approaches, small businesses have been applying for emergency relief loans from the city to help with reopening once the state lifts its shutdown mandate.

Earlier this week Mayor George Brown announced the program modeled after the one his administration offered to local restaurants in the city struggling financially under the restrictions in place to slow the spread of COVID-19.

“As of now we have 14 applications. Their total is $41,000,” Brown said Wednesday.

Non-franchised, locally owned small businesses with one to five full-time employees are eligible to apply for no-interest, one-year loans up to $3,000. The program guidelines and loan application are available online at https://www.wilkes-barre.city/emergencysmallbusinessloan.

Applications must be received by Friday and verified by either an electronic time stamp if sent by email, or postmark if mailed through the U.S. Postal Service.

The funding source is an underused state economic development program that has not been tapped for more than a decade. More than $300,000 was in the account of the Enterprise Zone Development Program. The city received approval from the state Department of Economic and Community Development to apply the money to the emergency loan program.

In the first round loans totalling $241,450 were made to 36 non-franchised and locally owned restaurants in the city. The maximum loan amount was $7,500.

The businesses applying for the loans in the second round must have completely shut down due to the coronavirus pandemic. The money can be used for, among other things, utility bills, mortgage or lease payments, restocking inventory and paying employees.