They will also get back pay owed to them from July.
Mayor Chris Doherty said Thursday afternoon that Amalgamated Bank of New York City officially closed on a six million dollar loan.
The closing means that the city will be able to make a full payroll this week.
Nearly 400 workers will also see the back pay, plus interest, owed to them from when they were paid minimum wage.
That move brought nationwide attention to the Electric City.