Nanticoke, June 16, 2020 – During the Senate Majority Policy Committee informational meeting on rebuilding northeastern Pennsylvania’s economy after COVID-19, State Senator John Yudichak (I-Luzerne/Carbon) highlighted the importance of the Luzerne County Small Business Loan Program.
“Pennsylvania businesses, especially our small businesses, have been devastated by the economic shutdown caused by the COVID-19 pandemic. As we continue to drive out CARES Act funding to assist communities and businesses, we should look to leverage existing programs like the Luzerne County Small Business Loan Program. Created in 2011 in response to devastating floods in the Wyoming Valley, the program is administered by MetroAction and has yielded incredible results: closing 108 loans totaling $6.79 million and creating or retaining 855 jobs. As discussed in today’s policy meeting, I look forward to working with both Congressmen Meuser and Cartwright as well as Senators Casey and Toomey to invest in this proven economic tool for local job creators.”
The Luzerne County Small Business Loan Program was created from a $4 million grant award from the Commonwealth Financing Authority (CFA) through Luzerne County Local Share Account Gaming Funds.
To view/share Senator Yudichak’s comments on the Luzerne County Small Business Loan Program, please visit this link: https://pasen.wistia.com/medias/8p1kfu59fy
A video of the Senate Majority Policy Committee Meeting is posted here: https://www.pasenategop.com/blog/061620/