The first application window will remain open until 11:59 p.m. on July 14. The program is not a first-come, first-served program, and there will be multiple rounds of application windows. Grants of between $5,000 and $50,000, based on a company’s annual revenue, will be administered by Pennsylvania’s Community Development Financial Institutions (CDFIs).
Businesses applying for the grant must meet certain eligibility requirements, including:
Applicants must also certify that (a) COVID-19 has had an adverse economic impact and makes the grant request necessary to support the ongoing operations of the applicant, (b) the grant will be used to cover COVID-19 related costs, and (c) during the period beginning on June 1, 2020 and ending on December 31, 2020, the applicant has not and will not receive another grant under this state program.
Priority will be given to small businesses that are (i) owned and operated by low and moderate-income people, (ii) located in certain areas, including those with low income or high unemployment, (iii) most impacted by the economic shutdown and (iv) historically disadvantaged and have traditionally experienced discrimination when seeking financial services and products (these businesses are at least 51% owned by persons who are Black, Hispanic, Native American, Asian American or Pacific Islander).
For more information and to submit your application, visit https://pabusinessgrants.com/.
The SBA Focus Group of the COVID-19 Task Force at Klehr Harrison stands ready to assist you in your business and legal needs. We will continue to provide additional information and guidance as the PPP loan program is implemented.
Co-authors Matthew McDonald, partner, and Elizabeth Bucilla, associate are members of the Corporate & Securities Department at Klehr Harrison.