Momentum Magazine May 2017 Edition | Page 2

CHAMBER EVENTS WEDNESDAY, MAY 3, 2017 9:00 AM - 4:00 PM 2017 President’s Message “N ot Your Average C hamber” EXPO LACKAWANNA COUNTY The Marketplace at Steamtown FRIDAY, MAY 5, 2017 8:00 AM - 4:00 PM 11:30 AM - 1:00 PM WEDNESDAY, MAY 17, 2017 FREE EVENT and Tour TUESDAY, MAY 23, 2017 11:00 AM - 1:00 PM Lunch Mixer MID VALLEY MANOR 85 STURGES ROAD PECKVILLE THURSDAY, JUNE 15, 2017 5:30 PM - 8:30 PM I’ve written previously about our economic development programs and our leadership initiatives. This month, I’d like to give you a brief description of MetroAction, Inc. Founded in 1977 as a downtown development organization, one of MetroAction’s earliest projects was a façade improvement program on Linden Street. Twenty years later, with the help of a consortium of local banks, MetroAction began offering microloans. These loans were often made to those who had experienced diffi culty getting a traditional bank loan. MetroAction became a federal and state CDFI – Certifi ed Development Financial Institution – and expanded its lending territory to nine Northeastern Pennsylvania counties. In 2011, when fl ooding from tropical storms severely damaged many Luzerne County businesses, MetroAction provided low-interest loans through a special program created with funds from the Commonwealth Financing Authority. Things are changing once again. Many of MetroAction’s loan products are being offered by banks or other community development organizations. A strategic planning group is currently taking a close look at MetroAction’s mission and will develop a vision for its future. Thank you to Ray Ceccotti, President, and all of the dedicated members of the MetroAction Board of Directors. Growing business, Celebration of Leadership HILTON SCRANTON & CONFERENCE CENTER 2 • The Greater Scranton Chamber of Commerce