$10.8 million in new COVID-19 Working Capital Access Program funding approved

Restaurants, fitness facilities and salons have been supported with new capital funding

On behalf of Gov. Tom Wolf, Department of Community and Economic Development Secretary Dennis Davin announced that 133 companies have been approved for funding in the final disbursement of the COVID-19 Working Capital Access Program. The latest cohort of businesses to receive funding includes chiropractors, restaurants, breweries and wineries, salons and fitness facilities. Over the course of the program, nearly $61 million was awarded to businesses across Pennsylvania.

“As our state begins to move forward and economically recover from COVID-19 mitigation efforts, this last round of CWCA funding will continue to support small businesses across the commonwealth as they safely reopen or plan to reopen,” said Davin. “These are businesses that support our neighbors, family members and friends across the state, and are the fabric of our communities, so now, more than ever, supporting them must remain a top priority in recovery efforts.”

In total, 745 businesses were approved for loans totaling $60,722,641.

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 reviewed submitted applications and worked with DCED’s Certified Economic Development Organizations to disburse CWCA loan funds at the time of approval.

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.