City Launches New Small Business Loan Fund

The city is launching a new revolving loan fund that will allow new or expanding small businesses in Bethlehem to borrow as much as $100,000 for equipment, construction or working capital.

Mayor John Callahan introduced the Bethlehem Small Business Loan Fund at the start of the fourth annual Lehigh Valley Microenterprise Expo March 28 at on Wednesday afternoon.

Businesses utilizing the Bethlehem Small Business Loan Fund must create one full time equivalency position for each $35,000 borrowed.

The new $500,000 revolving loan fund is supported through the city’s Community Development Block Grant allocation. The program will be administered by the Rising Tide Community Loan Fund, a subsidiary of Community Action Development Corp. of the Lehigh Valley.

“Bethlehem Small Business Loan Fund is part of our overall effort to help entrepreneurs in the City,” Callahan said. “We embrace every kind of entrepreneurship and look forward to helping businesses grow in Bethlehem.”