The PennZone

  • Home
  • Business
  • Health
  • Financial
  • Education
  • Legal
  • Entertainment
  • Non-profit
  • Construction

Pennsylvania: Gov. Wolf Announces $96 Million for Small Businesses Impacted by COVID-19
The PennZone/10078657

Trending...
  • Suzanne Harp named Managing Director in Texas, USA
  • IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
  • Penn Mutual Earns 2025 Great Place To Work Certification™
Application Period for Final Round of Funding Now Open

Governor Tom Wolf today announced that $96 million in state grants have been awarded to 4,933 Pennsylvania small businesses that were impacted by the COVID-19 public health crisis and subsequent business closure order.

Businesses in every Pennsylvania county received grants in this first of two rounds of funding, and 2,512 grants – or 51 percent – were awarded to historically disadvantaged businesses.

"As we continue to address this public health crisis, it's critical that we also focus on our state's economic recovery and supporting our small businesses across the state, which continue to be impacted by our necessary mitigation efforts," Gov. Wolf said. "This funding will go a long way to help small businesses, including historically disadvantaged businesses, at a time when they need it most."

The COVID-19 Relief Statewide Small Business Assistance funding was developed in partnership with state lawmakers and allocated through the 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) distributed the funds to the Pennsylvania Community Development Financial Institutions (CDFIs), which are administering the grants through three programs: $100 million for the Main Street Business Revitalization Program, $100 million for the Historically Disadvantaged Business Revitalization Program, and $25 million for the Loan Payment Deferment and Loss Reserve Program.

"The COVID-19 pandemic unexpectedly affected small businesses across the commonwealth, an unfortunate circumstance that could not have been predicted or prepared for," said DCED Secretary Dennis Davin. "However, through the collective action of the Wolf Administration, the General Assembly, and the CDFI Network, Pennsylvania's hardest hit and most at-risk businesses will be able to access the funding they need to shore up their resources and regain sound financial footing as we move into recovery."

More on The PennZone
  • Lore Link is Here to Help Organize Your Game
  • Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
  • Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
  • VIP Vacations Honored as One of the Top 25 Group Accounts for Classic Vacations for 2024
  • DICK'S Sporting Goods Announces DICK'S Deal Days, a Four-Day Summer Savings Event

The second and final round of funding is open starting today through 11:59 PM on Friday, August 28. Eligible applicants not awarded in the first round do not need to reapply and will be rolled into the next round for consideration. More information on the COVID-19 Relief Statewide Small Business Assistance Program, including how to apply, is available on DCED's website.

"The PA CDFI Network targeted these funds to reach the smallest and most vulnerable businesses across the state and we received an immense response with close to 50,000 applications submitted in the first round and more than $860 million in total requests," said Daniel Betancourt, chairman of the PA CDFI Network and President & CEO of Community First Fund. "We are grateful to be part of this first step with Governor Wolf and the Pennsylvania Legislature to get much needed resources to the small businesses that have been so adversely impacted by the pandemic."

The grants may be used to cover operating expenses during the shutdown and transition to re-opening, and for technical assistance including training and guidance for business owners as they stabilize and relaunch their businesses.

"These grants and the relief they will provide are testament to what we can do when we prioritize the right initiatives," said state Sen. Vincent Hughes (D-Philadelphia, Montgomery), Democratic chairman of the Senate Appropriations Committee. "It is because of collaboration and a collective focus that today we were able to deliver help to the auto body shops, the barbershops, the beauticians, the pizza shop owners, the soul food establishments and other businesses across the commonwealth. It is critical to understand that there is still a great deal of need and must continue to direct resources and aid to our small business community to help it recover from the devastation of the pandemic."

"I could not be more proud or more grateful for the great work of DCED and Pennsylvania's CDFI Network in delivering substantive, fair, equitable, need-based assistance to our state's main street and historically disadvantaged small businesses. Our program design and the accountability it provides to taxpayers and to our federal funders is a model for the nation," said state Sen. John Blake (D-Lackawanna, Luzerne, Monroe), Democratic chairman of the Senate Finance Committee. "I appeal to the US Congress and to our colleagues on both sides of the aisle in Harrisburg to recognize the success of this program in assisting small businesses devastated by the pandemic and to invest further in the program so we can help even more of them."

More on The PennZone
  • AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
  • Construcción del Corredor Norte–Sur (NSC) de Singapur
  • New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
  • Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
  • Retired Hobbyist Launches Bold Weekly Album Project Using AI Songwriting Tools

"Our business community has been severely impacted by the COVID-19 pandemic and is in need of immediate assistance. The grant program is targeted to help small businesses manage costs, handle expenses, and stay in operation in this exceptionally difficult time," said state Sen. Jim Brewster (D-Allegheny, Westmoreland). "Since COVID struck our state and debilitated our business community, I have been advocating for bridge grants and sought millions in aid for impacted businesses and workers. The small business assistance grants are one of the tools we can use to bolster business, maintain jobs and help workers at a time of immense distress."

"For minority and women-owned businesses in Pennsylvania COVID-19 didn't create a crisis, it laid bare the crisis our minority entrepreneurs have been facing for decades," said state Rep. Jake Wheatley Jr (D-Allegheny), Democratic chairman of the House Finance Committee. "While I'm glad to see the positive impact of these grants and I urge all local community businesses to apply for the next round of grants, we need to expand investment in programs like this because it's long past time for the legislature to address the systemic flaws that are leaving too many marginalized people behind."

"The burden that COVID-19 has put on business owners, employees and families in southeast Pennsylvania gets heavier every day," said state Rep. Chris Sappey (D-Chester). "At this point, when we talk about addressing the pandemic, we must not only fight it with masks and social distancing, but we also must equally and strongly support our business community, where this fight for our health and safety actually is taking place. Commerce and industry must survive this virus, as well. Pennsylvania needs this aid now, and my office is eager to work with any business that needs help applying."

SHARE Email Facebook Twitter

Filed Under: Government, State

Show All News | Report Violation
0 Comments
1000 characters max.

Latest on The PennZone
  • INVESTIGATION ALERT: Berger Montague PC Investigates Aflac, Inc.'s Board Of Directors For Breach of Fiduciary Duties (NYSE: AFL)
  • AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
  • The Naturist World Just Shifted — NaturismRE Ignites a Global Resurgence
  • $796,000 in Q2 Revenue Marks Highest Earnings to Date on 3 Trailing Quarters of Profitability in Multi-Billion Homebuilding Sector: Stock Symbol: IVDN
  • Cybersecurity is THE Hot Market Sector; Revenues, Earnings & Profit matter; Only 33 Million Shares + a Huge Short Position Equal an Undervalued Stock
  • Despite Global Calls for a Ban, US Child Psychiatry Pushes Electroshock for Kids
  • BeyondTrucks CEO Wins Gold Stevie® Award for Best Entrepreneur in Transportation
  • Franco Polished Plaster Celebrates 35 Years of Bringing Walls to Life in the UK
  • Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
  • C8C.AI Launches Audio Compliance Engine to Streamline Ethical AI Audio Data at Scale
  • Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
  • Psychologist-Turned-Hermeticist Releases Modern Guide to the Seven Hermetic Principles
  • Winners Announced for Asia Pacific Business Awards 2024-2025
  • Medwave Recognized Among Top 10 Medical Billing Companies in USA by MedicoLeads
  • Hamvay-Lang and Lampone.hu Join Forces with AIMarketingugynokseg.hu to Elevate Hungarian Lifestyle Brands on the Global Stage
  • Why HVAC Cleaning Is So Important In Philadelphia
  • Google AI Quietly Corrects the Record on Republic of Aquitaine's Legal Sovereignty
  • NYC Leadership Strategist Stacie Selise Launches Groundbreaking 4S Framework Series to Redefine Executive Excellence
  • Make Innovation Matter: Support H.R.1's R&D Expensing Relief for American Small Businesses
  • Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI)

Popular on PennZone

  • AI in Healthcare Just Crossed a Tipping Point. Investors Are Watching These Names - 176
  • Handel's Ice Cream Celebrates Grand opening Event in Rialto, California - 103
  • Real Estate CEO Launches Explosive New Book After $275,784 Wire Fraud Incident
  • Western Carolina Emergency Network Accepts 2025 ReadyCommunities Partnership/CCROA National Service Award for Collaboration to Augment Local Response
  • JMC Princess Announces Release of Empowering New Single "PRETTY" – A Summer Anthem for Young Girls Everywhere
  • Kaplan Morrell Applauds Passage of Landmark Workers' Compensation Reform in Colorado
  • Levitt Pavilion Los Angeles Summer Concert Series 2025
  • Conexwest Unveils 20ft Ground-Level Mobile Office Container with Integrated Restroom
  • Rediscovered Christopher Lee Recording 'Elenore' Re-Released to Mark 10th Anniversary of His Passing
  • The World's No.1 Superstar™ Silences His Own Husband with Legally Binding NDA — "Call Him Mr. Sidow Sobrino" Now Law

Similar on PennZone

  • Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
  • Eolian Signs New Information Exchange Agreement with the U.S. Department of Defense for Technology Innovation
  • Despite Global Calls for a Ban, US Child Psychiatry Pushes Electroshock for Kids
  • Byrd Davis Alden & Henrichson Launches Independence Day Safe Ride Initiative with 500 Free Uber Credits
  • IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
  • Nationally Recognized Hispanic Activist and Businessman, Luis Figueroa, to speak at CPAC Latino 2025, Showcasing Hispanic Leadership in Action
  • New Frontier Aerospace Successfully Tests Its Revolutionary Mjölnir Rocket Engine
  • Profiting from Elder Harm: The Push to End Psychiatric Drugging in Nursing Homes
  • 14th CryptoSuper500 Report Releases: Bitcoin's Evolution into a Global Supercomputer
  • Global Court Momentum Builds Against Forced Psychiatry; CCHR Urges U.S. Reform
Copyright © The PennZone | Theme: OMag by LilyTurf Themes
  • Contribute
  • Privacy Policy
  • Terms of Service
  • Contact Us