$225 Million PA Coronavirus Small Business Assistance Program recently announced by Governor Wolf
At this time, program details are still in development. The PA CDFI Network is currently working with the PA Department of Economic and Community Development in support of program implementation. State and federally backed small business grants that do not need to be repaid will become available through select financial institutions before the end of June. The goal is for the application process and portal to be open by July 1st for a set period of time-not first come, first served. Businesses can visit the central informational website www.pabusinessgrants.com through which businesses can learn more about the program and the CDFIs deploying the grants. Applications are not being accepted at this time.
Businesses will be eligible to apply when applications open if they have annual gross revenues of $1 million or less AND have no more than 25 full-time equivalent employees (FTE). Additional program and application details will be available soon.
Closely watch the following BUCKS COUNTY-qualified lenders to open their application periods in the coming days so that you can apply as early as possible.
Click here for the full list and contact information: https://dced.pa.gov/download/community-development-financial-institutions/?wpdmdl=94944.
- Rising Tide (June 25th presentation is provided by Rising Tide)
- Reinvestment Fund
- Beech Capital
- West Philadelphia Financial Services Institution
- Enterprise Center Capital
- Entrepreneur Works
- Women's Opportunities Resource Center
- United Bank
You CAN apply if you've received a PPP loan. Businesses must employ 25 or fewer people and have been directly impacted by the COVID-19 pandemic to qualify.
This zoom will provide information on the documents and details you need to apply.
Thursday, June 25th, 11 AM - 12 PM via Zoom Virtual Meeting.
Register at https://web.ubcc.org/events/PA-Coronavirus-Small-Business-Assistance-1412/details