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Grant Funding Available for Historically Disadvantaged Businesses

PA-CDFI-NETWORK

Up to $10,000 in grant funds is available now until February 23 to historically disadvantaged businesses.

In partnership with the Pennsylvania Department of Community and Economic Development, the Pennsylvania CDFI Network is administering the Historically Disadvantaged Business Assistance (HDBA) Grant Program.

Below you will find important information to note. Complete instructions and information can be found on the PA CDFI Network's site.

Eligible businesses must:

Be at least 51% owned and operated by individuals that identify as African American, Black, Hispanic, Native American, Asian American, or Pacific Islander. This target population is based on the U.S. Treasury Department's definition of disadvantaged individuals that historically lack access to financial services

Be in operation on or before March 17, 2020

Generate annual revenues of less than $1 million

More

Grant Prioritization will be given to businesses located in*:

A low-income census tract as defined by the U.S. CDFI Fund

A municipality that has a crime rate higher than the state average per capita

A municipality that has a crime rate 125 percent of the state average per capita

A designated priority commercial area, which includes Commercial Corridors (for Philadelphia), Neighborhood Business Districts (for Pittsburgh), Allegheny Together communities (for Allegheny County), and active Main Street Program areas (in other parts of the state)

*Businesses meeting two or more of the above program priorities are most likely to receive approval

Complete instructions, eligibility requirements, information, and application materials can be found here.

Feel free to reach out to our team with any questions at 484-893-1039 or rtclf-marketing@caclv.org

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