Covid-19 Relief for PA Small Businesses
June 29, 2020
By Marilyn Le Lodico, Esquire
COVID-19 Relief Pennsylvania Statewide Small Business Assistance Program Provides Grants to PA Small Businesses
Starting June 30, 2020, Pennsylvania small business owners impacted by the COVID-19 pandemic can apply for a grant between $5,000 and $50,000 through the COVID-19 Relief Pennsylvania Statewide Small Business Assistance Program. The Program is run by the Pennsylvania Department of Community and Economic Development and has been funded by $225 million as part of the CARES Act federal stimulus funds allotted to Pennsylvania.
Applications for the grants can be submitted through a local Pennsylvania Community Development Financial Institution such as Bridgeway Capital, the Progress Fund, or the Northside Community Development Fund.
The grant amount will be based on the applicant’s annual revenues as documented in their most recent tax returns. Eligible businesses must be physically located, certified to do business, and generate at least 51% of their revenues in Pennsylvania. They must have annual revenues of $1 million or less before the impact of COVID-19 and have 25 or fewer full-time equivalent employees prior to Feb 15, 2020.
There will be multiple rounds of applications. The first round of funding commences June 30, 2020 and will remain open for ten days.
A list of Pennsylvania Community Development Financial Institutions can be found here. If you are a Pennsylvania small business needing legal assistance, contact us online or call (412) 338-1100.