Senator Santarsiero Announces $225 Million Grant Program for Small Businesses Impacted by COVID-19 and An Additional $200,000 in Awards to Local Businesses Through COVID-19 Working Capital Access Program
BUCKS COUNTY – June 9, 2020 – State Senator Steve Santarsiero (D-10) announced $225 million in grant programs for small businesses impacted by COVID-19. The money originated from the federal CARES Act, and was allocated through the recently passed state budget. The Department of Community and Economic Development (DCED) will distribute the funds to the Community Development Financial Institutions (CDFIs), which will then administer the funding in the form of grants.
Eligible businesses will be able to use the grants to cover operating expenses as they transition to re-opening, and for technical assistance including training and guidance for business owners as they stabilize and relaunch their businesses.
“As all sectors of our economy begin to re-open, these grants will provide necessary resources to aid our small businesses and ease the transition for business owners,” said Sen. Santarsiero. “As guidance becomes available on how businesses can apply for these grants, I look forward to sharing that information with our small business owners and working closely with local CDFIs to ensure businesses here in Bucks County receive the support they need.”
Sen. Santarsiero also announced the award of $200,000 to two businesses in his district from the Department of Community and Economic Development’s (DCED) COVID-19 Working Capital Access Program (CWCA). Curtin and Heefner, located in Lower Makefield Township, and Well of Life Center for Natural Health, located in Doylestown, each received the maximum amount of $100,000 through this program. This was the final round of CWCA funding, as the state moves toward re-opening.
“I am pleased that this final round of CWCA funding has brought an additional $200,000 to two businesses in my district, bringing the total amount of funds received in the 10th district to $1.4 million,” said Sen. Santarsiero. “With this last round of funding, businesses are continuing to receive critical support as we move into the yellow phase of re-opening. While this program is winding down, the positive effects on these businesses will continue to be felt as they transition into the yellow phase of re-opening.”
The 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. For more information on the CWCA program, visit the DCED website.