Scranton gets $6.25M loan to cover payroll
SCRANTON — A struggling northeastern Pennsylvania city has secured a $6.25 million loan to cover its current payroll and some back wages.
Scranton officials closed Thursday on the loan from Amalgamated Bank.
City Solicitor Paul Kelly says the money will cover today’s payroll of $1.1 million.
Kelly says it will also allow payment of $750,000 in back wages. In June, the mayor temporarily slashed the pay of about 400 city workers to minimum wage, saying the city was nearly broke.
