Beaver Street Initiative Approved for State’s Neighborhood Assistance Program Support
Small businesses and smaller-scale development projects will soon be able to take advantage of CRIZ financial assistance through the Small Business Financial Assistance Program. This new opportunity will provide more equitable access to funding from a new $5 million revolving loan fund.
The Lancaster CRIZ Programs is one of the most vital financial assistance tools in the City’s economic development toolbox and beginning in 2022, this new program will make low-interest loans of up to $100,000 available to small businesses located within the CRIZ districts. Loans may help to fund the following eligible costs, including but not limited to:
§ Acquisition, demolition, construction, and/or renovations of a property, including interior leasehold improvements and façade improvements
§ New equipment related to expansion of an existing business
§ Activities that would assist in removing impediments to the development of a property (ex: environmental remediation)
The Lancaster City Alliance now manages the CRIZ plan and businesses located within the CRIZ districts are encouraged to contact Jeremy Young, Director of Community & Economic Development at Lancaster City Alliance, at 717.696.6200 or firstname.lastname@example.org for additional information or to inquire about applying for a CRIZ Small Business Financial Assistance Loan.