Ciresi and Snyder sponsor $50M grant program for ultra-small businesses impacted by COVID-19
HARRISBURG, MARCH 31 – State Rep. Joe Ciresi, D-Montgomery, and Rep. Pam Snyder, D-Fayette/Greene/Washington, today announced that they will be introducing a bill that would offer grants to ultra-small businesses impacted by the COVID-19 global pandemic. The bill would create a $50 million grant program for businesses making no more than $3 million per year or employing up to 30 full-time employees.
“Small businesses are the backbone of many of our communities," Ciresi said. "It is essential that the Commonwealth go beyond loans and put extra support toward ensuring that they can continue to thrive once life returns to normal. We cannot forget about our small business owners and their hardworking employees, just as we have not forgotten our largest corporations.”
“These small businesses are the lifeblood of our communities, and we know there are thousands of Pennsylvania small business owners who have been hit especially hard by the economic downturn as a result of the COVID-19 pandemic,” Snyder said. “We need to do all we can to protect and support these businesses, and I look forward to working with Representative Ciresi to do just that by creating this special grant program.”
On March 25, Gov. Tom Wolf announced that new funding is available to help small businesses impacted by COVID-19 through a new program under the Pennsylvania Industrial Development Authority’s Small Business First Fund, the COVID-19 Working Capital Access Program. Find out more about the program and how to apply.
The Pennsylvania Department of Community and Economic Development offers working capital loans that could be of assistance to businesses impacted by COVID-19. Resources and information can be found here as they become available.
On March 19, 2020, Governor Wolf announced the availability of low-interest loans for small businesses and eligible non-profits in all 67 counties in Pennsylvania through the U.S. Small Business Administration.
Loan applications can also be downloaded at sba.gov/disaster. Applicants may apply online using the Electronic Loan Application via the SBA’s secure website at disasterloan.sba.gov/ela. Completed applications should be returned to the local Disaster Loan Outreach Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
To learn more about how the state is responding to COVID-19, click here.
For more information, contact Ciresi’s office at 484-200-8265 or Snyder’s office at 724-966-8953.