Bucks County is a dynamic region where demographics reveal an ever-changing economic landscape. As of 2021, Bucks County's population grew to 629,530, an increase of 0.5% or 3,161 since 2016. The population is expected to increase by 0.3% between 2021 and 2026, adding 1,650. Concerning educational attainment, 25.3% of Bucks County residents possess a bachelor's degree (5.0% above the national average), and 8.3% hold an associate degree (0.4% below the national average). The median household income is $93.2K, which is $28.2K above the national median household income of $65K. Most notably, the labor force participation rate decreased from 66.8% to 65.7% between 2016 and 2021 and is anticipated to decrease further by the end of 2022...

Below are the updated 2022 first quarter interest rate options for qualifying PIDA loan applications. These rates are in effect for loan applications received through March 31, 2022. For Real estate loans financing eligible land and building costs, borrowers will have the following interest rate options:For term loans with a regular amortization;1) Fixed interest rate for the full term of the loan (up to a 15-yr. period), set at the current 10-year treasury yield + 100 basis points. Based on the current 10-year treasury yield, the fixed rate option is 2.5% for the life of the loan.2) Fixed interest rate for a seven (7) year period set at the 10-year treasury yield. After seven years, the rate will reset to the then-current 10-year treasury ...

In order to reach the smallest businesses, SBA will offer Paycheck Protection Program loans to businesses with fewer than 20 employees and sole proprietors only from Wednesday, February 24 through Wednesday, March 10, 2021. President Biden has also announced additional program changes to make access to PPP loans more equitable. Paycheck Protection Program (PPP): 1. Find a lender: Get matched with a lenderSearch for lenders in your area 2. Identify a loan: First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan. Information from source via https://www.sba.gov/pa...

UPDATE: APPLICATION WINDOW IS OCTOBER 31 - NOVEMBER 12, 2020 Bucks Back to Work Round 3: Economic Support Program for Bucks County Small BusinessApplicants must be in Bucks County-primary operations and headquartered.Application window is open October 31- November 12, 2020.Prior recipients of Bucks Back to Work Funding Round 1 & 2 are NOT eligible.Grants up to $25,000.Annual Revenues $3,000,000 or less.Expenditures between March 27 - December 30, 2020 may be eligible.Grant funds must be utilized by December 30, 2020.

UPDATE: APPLICATION WINDOW IS OCTOBER 31 - NOVEMBER 12, 2020 Bucks Back to Work Round 3: Economic Support Program for Bucks County Small BusinessApplicants must be in Bucks County-primary operations and headquartered. Application window is open October 31- November 12, 2020. Prior recipients of Bucks Back to Work Funding Round 1 & 2 are NOT eligible. Grants up to $25,000. Annual Revenues $3,000,000 or less. Expenditures between March 27 - December 30, 2020 may be eligible. Grant funds must be utilized by December 30, 2020. 

SBA Approves Simple 1-Page PPP Forgiveness Application for Loans of $50,000 or Less: The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. Wolf Administration Launches $2.2 Million Loan Fund Supporting Creative Small Businesses: the Creative Business Loan Fund will make available $2.2 million in the form of affordable, flexible financing to small, creative businesses (example: craft manufacturers, arts schools, architecture, design and fabrication firms, media companies, and visual and performing arts production agencies). The fund will prioritize creative businesses located in low-income communitie...

Growth in Action Small Business Grants provide eligible organizations the opportunity to access up to $5,000 in funds to help grow their business or community during this uncertain time. In addition to the financial benefit of the grant, recipients will be invited to join round table discussions of best practices with the bank's team of subject matter experts in areas ranging from investments to human resources to marketing.Who We Are. Why We Care. At Penn Community Bank, we believe in real partnership and rising to challenges in real time the way only a community bank can. We want current and potential customers alike to know that when we're in your neighborhood, so is greater good banking. Growth in Action Grants are an extension of our c...

If business is slow, you are experiencing financial difficulties, or facing potential employee layoffs, Pennsylvania's Shared-Work Program can help. Shared-Work allows you, the employer, to retain your workforce during a temporary slowdown and then quickly ramp up operations without the expense of recruiting, hiring and training new employees. At the same time, Shared-Work helps to protect your employees from the financial hardship of a full layoff. The Shared-Work program allows an employer to temporarily reduce the work hours of a group of employees and divide the available hours equally rather than laying off any employees. Employees covered by a Shared-Work plan receive a percentage of their Unemployment Compensation (UC) Weekly Benefit...

It's the final countdown—less than 8 months left to get it all done. At PECO, safety is our top priority. As part of our commitment to safety, we're continuing to monitor developments related to the coronavirus (COVID-19) pandemic and taking appropriate precautions to protect the health and safety of our employees, contractors and customers. Learn more about ways we can help. Don't let time run out on your chance to get financial incentives from PECO for making energy-efficient upgrades to your lighting, HVAC, refrigeration and more. Planning for, purchasing and installing equipment may take longer than you initially expect, but financial incentives from PECO will expire May 15, 2021, or earlier if funds run out. Connect...

SECOND ROUND APPLICATION WINDOW OPENS AUGUST 10TH The PA CDFI Network has announced that the second grant application window will open at 9:00 AM on August 10th and will remain open for 15 business days closing at 11:59 PM on August 28th. WHAT IF I ALREADY APPLIED? If you applied during the first application window you should receive notification of your application status by August 10th. You do NOT need to reapply in the second round. Qualified applications will be automatically rolled over into the next funding round for consideration.   I HAVE NOT APPLIED YET. DO I EVEN QUALIFY? If you haven't yet applied, get your applications in Round 2! In order to get funds to businesses in need as quickly as possible, the second appli...