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Pennsylvania: COVID-19 Working Capital Access Program

The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak.

All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO).

Key points related to the CWCA:

  • Maximum loan amount: $100,000
  • How can funds be used: Working capital, which for purposes of this program is considered capital used by a small business for operations, excluding fixed assets and production machinery and equipment.
  • Eligibility: An eligible small business enterprise is a for-profit corporation, limited liability company, partnership, proprietorship, or other legal business entity located in the Commonwealth of Pennsylvania and having 100 or fewer full-time employees worldwide at the time of submission of the application. For purposes of this program a retail or service enterprise is defined as a for-profit business entity that is involved in the business-to-business service, business-to-public service, mercantile, commercial, or point of sale retail sectors. An agricultural producer is defined as a business involved in the management and use of a normal agricultural operation for the production of a farm commodity. A farm commodity is any Pennsylvania-grown agricultural, horticultural, aquacultural, vegetable, fruit, and floricultural product of the soil, livestock and meats, wools, hides, furs, poultry, eggs, dairy products, nuts, mushrooms, honey products, and forest products.
  • Terms: Loan terms are three years with a 12-year amortization. In addition:
    1. No payments will be due and payable during the first year.
    2. Principal, and if applicable, interest payments will be due monthly for years two and three.
    3. A balloon payment will be due and payable at the end of the third year. The interest rate for the program is 0% except for agricultural producers in which case the interest rate is 2% fixed for the life of the loan.
  • How to apply: Loan applications are packaged by a CEDO that serves the county your business is located in. The CEDO will work with you to determine if the CWCA loan program can assist with financing the needs of your business and will discuss with you in detail how the application process works. For a list of Certified Economic Development Organizations operating within Pennsylvania by county, visit the CEDO website.
  • Learn more by vising the PA Working Capital Loan website. Questions about the program can be directed to 717.783.5046.

Philadelphia COVID-19 Small Business Relief Fund

The Philadelphia COVID-19 Small Business Relief Fund offers grants or zero-interest loans to Philadelphia small businesses impacted by the COVID-19 pandemic.

Key points:

  • This is a one-time award, but there are three relief programs within.
  • The application launched on March 23, 2020.
  • The program is administered by the Department of Commerce and Philadelphia Industrial Development Corporation.
  • The program aims to:
    • Provide relief to small businesses to help them survive this crisis.
    • Retain as many employees as possible.
    • Help businesses avoid predatory lenders.
    • Maintain the provision of goods and services for Philadelphia’s residents.
  • You can apply for the three relief programs through a single application. Your request will be directed to the appropriate program based on your annual revenue.
  • Please refer to the application details for more information about what you'll need to complete your application.
  • The committee will review applications weekly. Applicants should anticipate a decision within 10 business days of submission depending on volume.
  • If you have a single business entity that has more than one location in Philadelphia, you may only submit one application to the fund for that entity.
  • If you have multiple businesses that are separate legal entities in Philadelphia, you may submit multiple applications.
  • Review detailed FAQ via the Small Business Relief Fund PDF.

To access the application and access additional details, visit the Philadelphia COVID-19 Small Business Relief Fund website.

Visit our Economic Resources and Relief Guide to review nationwide and statewide opportunities for businesses, non-profits, and individuals.

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