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Economic Resources for Businesses Impacted by COVID-19
News is rapid-fire these days as new resources become available to the business community. Many state and federal governmental organizations are opening new funding streams to help provide relief in response to the COVID-19 pandemic.
Listed below are just a few of these tools. If you’re unsure what options are best for you, please reach out to CREDC@HBGRC.ORG.
COVID-19 Working Capital Access (CWCA) Program
Program guidelines for COVID-19 Working Capital Access (CWCA), a program supplying working capital to businesses negatively impacted by the COVID-19 pandemic, were approved by the PIDA (PA Industrial Development Authority) Board on March 23, 2020. It is important to note, however, PIDA is not yet accepting applications. As the Certified Economic Development Corporation for Cumberland, Dauphin & Perry counties, Harrisburg Regional Chamber & CREDC will be able to pre-screen and accept applications when PIDA opens the program. Please check their resource page frequently for updates, or contact them at email@example.com with questions.
SBA Offers Disaster Assistance to Small Businesses
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Pennsylvania small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Tom Wolf on March 18, 2020. On Monday, March 23, the Chamber & CREDC hosted a webinar with SBA to review details of this loan process, eligibility, and tips for the application. You can view this presentation HERE or watch the recorded webinar HERE.
• Complete the online loan application (Website might be slow during peak traffic hours)
• View more COVID-19 Business Guidance from SBA
Other Financial Relief Opportunities & News
• Facebook Small Business Grants Program offering $100M in cash grants to businesses affected by COVID-19
• Pennsylvania Extends Personal Income Tax Return Filing Deadline to July 15, 2020
• Waiver of Penalties on Accelerated Sales Tax Prepayments
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