Wolf Administration Approves $10.8 Million in New COVID-19 Working Capital Access Program Funding
Restaurants, Fitness Facilities, Salons Supported with New Capital Funding
Harrisburg, PA – Today, on behalf of Governor Tom Wolf, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced that 133 companies have been approved for funding in the final disbursement of the COVID-19 Working Capital Access Program (CWCA). The latest cohort of businesses to receive funding includes chiropractors, restaurants, breweries and wineries, salons, fitness facilities. Over the course of the program, nearly $61 million was awarded to businesses across Pennsylvania.
“As our state begins to move forward and economically recover from COVID-19 mitigation efforts, this last round of CWCA funding will continue to support small businesses across the commonwealth as they safely reopen or plan to reopen,” said Sec. Davin. “These are businesses that support our neighbors, family members, and friends across the state, and are the fabric of our communities, so now, more than ever, supporting them must remain a top priority in recovery efforts.”
In total, 745 businesses were approved for loans totaling $60,722,641.
View a 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 reviewed submitted applications and worked with DCED’s Certified Economic Development Organizations (CEDOs) to disburse CWCA loan funds at the time of approval.
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, DCED, 717.783.1132