Business Data and Statistics of Allentown, PA

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Allentown is on the Road to Success:

Allentown is easily the commercial and cultural heart of Lehigh Valley. The area boasts a total population of about 118,032 persons, which offers new businesses a more than fair chance of crafting and touching their audience base. Rated the third largest city behind Philadelphia and Pittsburgh, business owners can expect to enjoy a welcoming business environment with business friendly neighborhoods and an array of customers to patronize their business.

Allentown is ranked number 6 on the list of areas in the country with the most development, giving new businesses a chance to become a part of a developing community. The area also offers as many as 30 million people within 100 miles on each side and is home to various higher educational institutions, including;

These institutions provide the community with a significant workforce population, ensuring that new and existing businesses do not fall short of their staff needs.

Sourcing Business Loans and Capital in Allentown

Allentown is geared towards supporting new and established businesses. Allentown Digital Marketing Experts and other Business owners can take advantage of the local financial opportunities available to scale their business and fuel its expansion. Among the available financial solutions to help small, medium, and large scale businesses achieve their economic and financial targets are;
Allentown Economic Development Loan Fund

The Allentown Economic Development Loan Fund offers businesses a chance to qualify for business loans with competitively low-interest rates. The loans are flexible and available to Allentown’s commercial, industrial, and mixed-use properties. Beneficiaries can enjoy loans ranging from $50,000 to $100,000. Before issuing the funds, the city requires a plan wherein there must be job creation or retention, 10% equity, and other flexible requirements.

City of Allentown Loan Funds

In collaboration with Allentown Economic Development Corporation (AEDC), the city offers economic development lending assistance to businesses that qualify for it. There are two local funds available;

Allentown Enterprise Zonal Loan Funds
Sole proprietors and business owners within the Enterprise Zone can leverage this funding for as much as $100,000 in loans for real estate purchase or improvements, equipment purchase, and as much as 40% to be used as working capital or inventory. The AEDC also offers as much as 75% financing to businesses that need help with their project costs.
Allentown Revolving Loan Fund
Sole proprietors and businesses in Allentown can leverage this financial aid to secure as much as $100,000 in funding for real estate purchases and improvements, equipment purchases, and up to 40% of working capital or inventory funding in special cases. The AEDC can also finance as much as 75% of projects deemed eligible for one to ten terms.
Pennsylvania Minority Business Development Authority

Minority-owned businesses have a chance to apply for a loan under PMBDA to finance their businesses. Those who fall under the economically or socially disadvantaged class can enjoy up to $250,000 in funding.

Allentown Development Company Loan Program (ADCO)

This funding presents businesses with as much as $100,000 in business loans for purposes such as construction, land acquisition, working capital, or equipment purchases. Eligible candidates are those that are;

– Creating or improving job opportunities for low and moderate-income people in economically distressed areas.
– Projects aimed at constructing or rehabilitating ancillary local commercial facilities necessary to positively impact people living in low or moderate-income areas.

Interested business owners or startups can leverage these financing opportunities to advance their business and boost economic returns.

Local Brand Advisor Allentown, PA

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