The City of Reading is dedicated to helping business owners achieve economic prosperity as well as housing ownership. Stronger financial security benefits the City as a whole and brings much needed income to its residents and diverse communities. To help with this effort loan information has been provided below.

Reading Small Business Emergency Fund

The Reading Small Business Emergency Fund is a new loan fund developed to provide emergency relief to small businesses struggling under the financial impact of COVID-19. The Emergency Fund is designed to help small “mom and pop” businesses within the City of Reading, PA.

Over the past month, the fund was developed by the Administration of Mayor Eddie Moran with assistance from Community First Fund and is in response to the urgent needs of the Reading City business community in the midst of the dramatic economic downturn sparked by the pandemic. Federal resources provided through the CARES Act offer important resources, but due to the overwhelming need, they will likely be insufficient and will not reach the most vulnerable small businesses in our community.

The May 27 launch of the Reading Small Business Emergency Fund will open with $1 Million available in highly flexible, low-interest loans administered by Community First Fund. This new forgivable loan program is funded by the City of Reading: $350,000 is from the current city small business Enterprise Loan Fund; $650,000 is from Community Development Block Grant funds. The funds are expected to assist approximately 100-200 city-based small businesses.