Pennsylvania Coronavirus Loans and Small Business Resources
The coronavirus pandemic and mandated business closures have taken a toll on Pennsylvania’s small businesses.
Information and financial support are vital to ensuring these companies survive this global health crisis. Here is a compilation of state government resources and links for small and midsized businesses in Pennsylvania. This will be updated as new information becomes available.
For general guidance, information and updates, visit the Pennsylvania Department of Health’s COVID-19 resource page.
The DOH has also issued a fact sheet for essential businesses that can be viewed here.
Business closures & enforcement
Gov. Tom Wolf ordered “all non-life-sustaining businesses” in Pennsylvania to close their physical locations indefinitely as of March 19. Which businesses are considered life-sustaining and which have been deemed non-life-sustaining? A complete list can be found here.
Businesses interested in seeking a waiver to Pennsylvania’s order can submit a request here.
A list of FAQs regarding the policy is available here.
COVID-19 loan program
The $60 million COVID-19 Working Capital Access Program will provide up to $100,000 in loans to small businesses with 100 or fewer full-time employees. The loans can be used for working capital, excluding fixed assets and production machinery and equipment. The interest rate for the program is 0%, except for agricultural producers, which will have a 2% fixed interest rate for the life of the loan.
More information on the CWCA program can be found here.
Read the full article here.