On June 8, Pennsylvania Governor Tom Wolf announced a $225 million statewide grant program to support small businesses impacted by the COVID-19 public health crisis and subsequent business closure order.
“As we continue to navigate the COVID-19 pandemic and shift our focus toward reopening our commonwealth, we need to help all Pennsylvanians recover. We need to provide assistance for those who were hurt by the pandemic and the resulting economic downturn,” Governor Wolf said. “This new program will provide direct support to impacted businesses to cover operating expenses during the shutdown and the transition to reopening.”
The funding was developed in partnership with state lawmakers and allocated through the recently enacted 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) will distribute the funds to 17 community development financial institutions (CDFIs) throughout the state, who will then administer the funding to small businesses in the form of grants.
Read the full announcement.