Congress is expected to release a second round of Paycheck Protection Program (PPP) funds soon. In anticipation of the new funding round, Reinvestment Fund is sharing information on how you can prepare to submit an application. With this round of funding, Reinvestment Fund will be processing PPP applications. Reinvestment Fund's PPP program will focus on supporting small businesses and nonprofits that are aligned with their mission-driven financing. They will provide up to $25 million in total loans, with a maximum of $200,000 per loan. Through their PPP program, they hope to serve communities in their primary geographic footprint that are overlooked by mainstream markets. Click here for more on the focus of their&n...

The COVID-19 global pandemic has affected nearly every facet of our lives in ways that many of us have never seen before. While it is first and foremost a health threat, the pandemic has caused an immeasurable impact to our economy, businesses, and jobs. In an effort to help us better understand how this crisis is affecting your organization and our region as a whole, we invite you to participate in this anonymous 5 minute COVID-19 Business Impact Survey. We will be sharing the results upon completion of the survey. We also plan to use the data gathered to shape the content we provide to you, to ensure that we are continuing to provide helpful information that addresses your needs through all stages of this pandemic. Survey deadline is Tues...

Chamber calls on executives and companies to marshal available resources, talent, and unique capabilities to help small businesses in any way they can. To combat the economic destruction threatening the survival of small businesses in every town across America, the U.S. Chamber of Commerce today launched the Save Small Business Initiative — a nationwide program to address small businesses' immediate needs, mitigate closures and job losses, and mobilize support for long-term recovery. The Save Small Business Initiative features a four-part campaign including financial aid, resources and guidance, advocacy, and polling, as well as a call to action for the larger business community and government to help small businesses "Our nation is facing ...

BCEDC brings you this news, however, these loans were not associated with our organization.

"The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding. Similarly, we are unable to enroll new PPP lenders at this time."

Today, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced the forbearance of loans administered by DCED. "This pandemic has presented new and unforeseen challenges to Pennsylvania's businesses, and the Wolf Administration has been committed to supporting our business community to the fullest extent every step of the way," said Sec. Davin. "This extended deferral will help ease the burden on small businesses and enable them to focus and prioritize their efforts as we work to mitigate the spread of COVID-19 in the commonwealth." Next week, Governor Tom Wolf and Sec. Davin will request loan deferrals for all borrowers with the Ben Franklin Technology Development Authority, the Commonwealth Financing Author...

The Bucks County Intermediate Unit is using its seven 3D printers and laser cutter to help in the fight against COVID-19. At most times, the Bucks County Intermediate Unit is busy delivering educational programs from school to school. Now, with schools shut down due to the new coronavirus, the agency has a new focus — making personal protection equipment for those fighting the virus.Lindsey Sides, the intermediate unit's supervisor of STEAM (Science, Technology, Engineering, Art and Math), learned that some 3D printers were being used to make masks and other equipment for medical workers and first responders.
She started investigating and, ultimately, got intouch with a professor at Cornell University who had mobilized a team that used 3D p...

Governor Tom Wolf today urged Pennsylvania manufacturers that currently are producing or can pivot to producing COVID-19-related supplies to submit their information to the newly developed Pennsylvania Manufacturing Call to Action Portal. "We're asking everyone to do their part to mitigate the spread of COVID-19, including ensuring that our health care system is prepared to care for patients and that there is access to critical personal protective equipment and products as more individuals and businesses take preventive measures," Wolf said. "Throughout our commonwealth's history, our manufacturing sector has answered the call to move us forward and contributed tremendously in times of turbulence. I call upon our private sector to be a part...

The SBA and Treasury Department have launched the new Paycheck Protection Program to help keep employees on payroll and small businesses operating. PLEASE NOTE WE ARE SHARING THE INFORMATION WITH YOU BUT BCEDC cannot administer the program, please contact your bank. PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION FOR BORROWERS The Paycheck Protection Program ("PPP") authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and Employee an...

​The spread of the COVID-19 virus continues to present new challenges for our communities, businesses, and Pennsylvania's economy. Governor Wolf has taken action to protect the public and businesses in order to slow the spread of the virus. On March 19, Gov. Wolf issued an order to close all non-life sustaining businesses. The complete list of non-life sustaining businesses is found on our website along with frequently asked questions for all life-sustaining businesses. Businesses that were ordered to close under this order and believe that they could help mitigate the COVID-19 crisis or provide essential services, have until Friday, April 3, 2020 at 5PM to apply for a Business Exemption Waiver. After that time...

We received additional clarification from the Department of Community and Economic Development (DCED) regarding businesses who are waiting for their waivers to be approved. If your business has submitted a waiver and has not received a response, please DO NOT resubmit a waiver. DCED is working quickly to process 25,000 waivers at this time and will respond to your waiver as soon as possible. Please see this link for a revised FAQ listing on submissions. If your business receives conflicting information from DCED on whether or not your business is essential, please contact my office at 215-541-2388. Those businesses requesting clarification on whether they are defined as life-sustaining should check this list, email the Department of Communi...