 |
 |
|
Posted 1/20/09 Despite Credit Crunch CACLV Helps Small Business Secure Money to Grow A story in the Sunday edition of the Allentown Morning Call highlights the success of the Community Action Committee of the Lehigh Valley’s (CACLV) Rising Tide Community Loan Fund. The fund provides low-income residents of the Lehigh Valley with affordable loans to start small businesses.The article profiles Melinda Kaskisto, the owner of a small, successful pizzeria who could not secure a loan from a bank to open a second restaurant after the credit market lock-up in 2008. Ms. Kaskisto turned to the Rising Tide Community Loan Fund and was able to secure a loan that gave her the start up money she needed to open the second restaurant. The complete Morning Call article can be read by following this link. In the Morning Call article officials with CACLV’s Rising Tide Community Loan Fund say they have received double the applications for loans in the last six months of 2008. The fund provides loans of up to $35,000 to new or expanding small businesses. Currently there are around 30 outstanding loans totaling close to $435,000, with $300,000 still available to lend. Community Action Committee of the Lehigh Valley, Inc, a member of the Community Action Association of Pennsylvania, is committed to helping low-income residents of Northampton and Lehigh Counties achieve Family Economic Success. |
| © 2010 Community Action Association of Pennsylvania | Privacy Policy |