On behalf of Gov. Tom Wolf, Department of Community and Economic Development Secretary Dennis Davin announced that 148 companies in 37 counties, including Bucks County, have received $12 million in funding in the fourth disbursement of the COVID-19 Working Capital Access Program. The latest cohort of businesses to receive funding includes restaurants, athletic facilities, caterers, childcare facilities, dental practices and more. To date, nearly $50 million was awarded to a number of diverse businesses across Pennsylvania.
“Over the past few weeks, the COVID-19 Working Capital Access Program has provided critical relief to small businesses across the commonwealth that found themselves in need of financial assistance as the commonwealth mitigates the spread of coronavirus,” said Davin. “This funding will provide a bridge to these businesses as Pennsylvania begins to implement its staged, strategic, regional reopening plan.”
A list of approved projects can be found here. New projects are highlighted in yellow.
On March 25, Wolf announced that the Commonwealth Financing Authority 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 continue to review submitted applications for approval and are actively working with DCED’s Certified Economic Development Organizations to disburse CWCA loan funds at the time of approval. Information on future awardees will be released as it becomes available.
DCED continues to update its website with financial and other resources.
Businesses seeking further guidance and clarification from DCED can also contact its customer service resource account at ra-dcedcs@pa.gov.
