$13.5 million for businesses in Pa
Pennsylvania’s Department of Community and Economic Development Secretary Dennis Davin announced that 160 companies in 43 counties have received $13.5 million in funding during the second round of the COVID-19 Working Capital Access Program. Funds awarded under the program to date total more than $23 million awarded to a number of diverse businesses like restaurants, wellness centers, wineries and breweries, consulting firms, and salons and spas.
“These loans will help businesses in the commonwealth quickly access capital to address their critical needs while we continue to follow the governor and health secretary’s orders,” said Sec. Davin. “Small businesses are the fabric of our commonwealth, and the Wolf Administration is committed to supporting them to the fullest extent during this unprecedented time.”
A list of approved projects can be found here. New disbursements are highlighted in yellow.
On March 25, Gov. Tom Wolf announced that the Commonwealth Financing Authority authorized the transfer of $40 million to the Small Business First Fund for CWCA. PIDA authorized making $61 million available to provide loans of $100,000 or less to for-profit businesses with 100 or fewer full-time employees.
PIDA staff continue to review submitted applications for approval and are actively working with DCED’s Certified Economic Development Organizations to disburse CWCA loan funds at the time of approval. Information on future awardees will be released as it becomes available. DCED continues to update its website with financial and other resources.
Businesses seeking further guidance and clarification from DCED can also contact its customer service resource account at ra-dcedcs@pa.gov. For the most up-to-date information on COVID-19, Pennsylvanians should follow www.governor.pa.gov and www.doh.pa.gov.
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