Pennsylvania Announces Millions In Grants For Small Businesses

Written by on June 9, 2020

Pennsylvania Announces Millions In Grants For Small Businesses

By Margaret J. Krauss, WESA

June 9, 2020

Pennsylvania will offer more than 200 million dollars to small businesses affected by the coronavirus pandemic. From WESA,  Margaret J. Krauss reports Governor Tom Wolf says residents must remain vigilant, but the state can begin to focus on economic recovery.

The money will be distributed to community financial institutions, like credit unions and nonprofit loan funds. They will then make grants to qualifying businesses. Twenty-five million dollars will be used to help with debt, while 100 million dollars each will be allocated to main street businesses and historically disadvantaged businesses. 

Wolf says they are finalizing program guidelines but hope to have funds out by the end of the week. 

“The goal is to get this out to businesses that need it, that are the most vulnerable, and that have suffered the most during this pandemic,” said Wolf.

Wolf says the new program will provide the liquidity businesses need to survive. The money is about nine percent of the federal funding Pennsylvania received from the CARES Act. 


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