COVID-19 Working Capital Access Program Provides Funding Assistance to Additional Pennsylvania Businesses
$12 Million in New Funds Awarded to Businesses in 37 Counties
Harrisburg, PA – Today, on behalf of Governor Tom Wolf, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced that 148 companies in 37 counties have received $12 million in funding in the fourth disbursement of the COVID-19 Working Capital Access Program (CWCA). The latest cohort of businesses to receive funding includes restaurants, athletic facilities, caterers, childcare facilities, dental practices, and more. To date, nearly $50 million was awarded to a number of diverse businesses across Pennsylvania.
“Over the past few weeks, the COVID-19 Working Capital Access Program has provided critical relief to small businesses across the commonwealth that found themselves in need of financial assistance as the commonwealth mitigates the spread of coronavirus,” said Sec. Davin. “This funding will provide a bridge to these businesses as Pennsylvania begins to implement its staged, strategic, regional reopening plan.”
View the list of approved projects. New projects are highlighted in yellow.
On March 25, 2020, Governor Wolf announced that the Commonwealth Financing Authority (CFA) authorized the transfer of $40 million to the Small Business First Fund for CWCA. PIDA authorized making $61 million available to provide loans of $100,000 or less to for-profit businesses with 100 or fewer full-time employees.
PIDA staff continue to review submitted applications for approval and are actively working with DCED’s Certified Economic Development Organizations (CEDOs) to disburse CWCA loan funds at the time of approval. Information on future awardees will be released as it becomes available.
DCED continues to update its website with financial and other resources.
Businesses seeking further guidance and clarification from DCED can also contact its customer service resource account. For the most up-to-date information on COVID-19, Pennsylvanians should follow the PA Governor’s website.
Casey Smith, email@example.com