Scranton Microgrant Program Partners with SBDC

Scranton Mayor Paige G. Cognetti announced the opening of applications for small business microgrants in the City of Scranton through an initiative for new businesses located in low-moderate-income demographic areas. The initiative includes educational programs and guidance offered by the Small Business Development Center at The University of Scranton.

These funds are awarded to the city through the Federal Community Development Block Grant (CDBG) Program from the Housing and Urban Development Administration (HUD).

The CDBG Small Business Micro-Grant Program for new or early-stage businesses located in Scranton’s low-moderate-income demographic areas (LMA) will supply funds ranging from $2,500 to $5,000 per business through the 2022 year to assist with start-up costs, thus contributing to their initial success and continued revitalization of our community. New and newly established businesses are defined as businesses that opened within the last 12 months or are planning to open within nine months of application.

“We are pleased to be able to assist small businesses in the City of Scranton in partnership with the Small Business Development Center at The University of Scranton through the awarding of these microgrants. Small businesses are the heart and soul of our city, and the City of Scranton is grateful to be able to assist them,” said Mayor Cognetti at the news conference announcing opening for applications for the microgrants.

Final applications for the microgrants must include a referral form from the SBDC, available after completing the required educational program series and/or business consulting and demonstrating appropriate business planning in accordance with program guidelines.

Lisa Hall Zielinski, director of the SBDC at The University of Scranton, said the SBDC is pleased to be able to partner with the City of Scranton “on impactful programs like this one, focused on providing microgrants to newer small businesses in the low-moderate-income demographic areas of the City. … Furthermore, as part of our Catholic and Jesuit mission at the University, we devote ourselves to service to others and working with underserved populations is an important part of how we give back to the community, so this program is meaningful to us on many levels.”

The SBDC’s role in this microgrant program will be to walk entrepreneurs through all of the criteria as it pertains to their business, gather required documents, assemble financials, and prepare their applications for submission to the City. The SBDC will do this through a combination of one-on-one meetings and/or educational programming based on the individual’s needs.

The awarded grants can be used for inventory costs, procurement of machinery, furniture, fixtures, equipment, and Defined working/operating capital such as utilities, rent, business services (accounting, IT, website development).

Qualifying businesses can find an application on the City of Scranton website.

The SBDC at The University of Scranton is housed in the Kania School of Management.