Welcome to Rising Tide Community Loan Fund, small business loan products for the Lehigh Valley!
Allentown Retail Mosaic Self-Forgiving
Loan Program
Start-up and existing business
Allentown Retail Mosaic Self-Forgiving Loan Program
Loans under this program are available for up to and including $15,000 to help support small businesses with startup costs or expansion for existing businesses.
Businesses must demonstrate a positive, direct community impact and choose to open within the City of Allentown proper. Businesses must also agree to create one full time equivalent job held by City of Allentown residents who meet the low/moderate income guidelines.
Who is eligible?
Startup or existing business in the following categories: Retail, Mercantile, Service, Commercial (Restaurants and other establishments that prepare made to order food are ineligible)
Entrepreneurs must be interested in establishing retail businesses within the City wide area (as per Allentown Five Year Consolidated Plan).
How much can I borrow?
These loans are available for up to and including $15,000.
What can the loan be used for?
This loan program is a reimbursement program. Applicants will need to utilize bridge or other financing to acquire equipment prior to the distribution of loan proceeds. Examples of the uses include:
- Equipment/machinery
- Inventory
- Supplies
How long is the loan term?
There is a 5-year term on this forgivable loan. There is a 0% interest rate.
How do I apply?
You can apply by contacting the City of Allentown’s Business Development Manager, Daniel Diaz. You can call 610-437-7610 x 2714 or email daniel.diaz@allentownpa.gov. If you need assistance, feel free to contact us.