New Small Business Grant Program Opens June 30
Governor Tom Wolf recently announced a new, $225 million state grant program for Pennsylvania small businesses impacted by COVID-19. The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program will provide grants ranging from $5,000 to $50,000. The application window for the first round of funding will open at 9:00 a.m. on June 30th and remain open for 10 business days.
To be eligible to apply, a business must:
• Be physically located, certified to do business, and generate at least 51% of their revenues in Pennsylvania;
• Have annual revenue of $1 million or less prior to the impact of COVID-19; and
• Have 25 or fewer full-time equivalent employees prior to February 15, 2020.
The program will prioritize small businesses that are:
• Owned and operated by low and moderate-income people; or
• Located in areas of need including areas with a population having incomes significantly below the median income level, high levels of poverty, higher than average unemployment rates, or significant population loss.
• Types of businesses that were most impacted by the economic shutdown and experienced the greatest revenue losses.
In addition, the program will give additional consideration to the following factors: women-owned businesses, communities targeted for business
investment by state government programs like Main Street and Elm Street, and rural communities.
This is not a first-come, first-served program. There will be multiple rounds of application windows. Additional rounds will be announced soon.
Click here for additional details about the program.
The grants will be processed by 17 Pennsylvania Community Development Financial Institutions (CDFIs). For more information, links to participating CDFIs, and a sign-up to receive information, visit: www.pabusinessgrants.com.