Applications Now Being Accepted For Next Round Of Assistance For Small Businesses Affected By COVID-19; $96 Million Awarded

On August 10, Gov. Wolf announced the COVID-19 Relief Statewide Small Business Assistance Program is now accepting applications for the next round of grants.  The deadline for applications is August 28.

Gov. Wolf also announced the award of $96 million in COVID-19 Relief Statewide Small Business Assistance Program to 4,933 businesses.

The COVID-19 Relief Statewide Small Business Assistance funding was developed in partnership with state lawmakers and allocated through the state budget, which included $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, of which $225 million was earmarked for relief for small businesses.

The Department of Community and Economic Development (DCED) distributed the funds to the Pennsylvania Community Development Financial Institutions (CDFIs), which are administering the grants through three programs: 

-- $100 million for the Main Street Business Revitalization Program;

-- $100 million for the Historically Disadvantaged Business Revitalization Program; and 

-- $25 million for the Loan Payment Deferment and Loss Reserve Program.

The grants may be used to cover operating expenses during the shutdown and transition to re-opening, and for technical assistance including training and guidance for business owners as they stabilize and relaunch their businesses.

For more information on the program, visit DCED’s COVID-19 Relief Statewide Small Business Assistance Program webpage.

[Posted: August 10, 2020]  PA Environment Digest