SCRANTON - This struggling 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.
The money will cover Friday's $1.1 million payroll, City Solicitor Paul Kelly told the Scranton Times-Tribune. Kelly said it would 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. Scranton has been cash-strapped for years. Last week, City Council approved a financial recovery plan.