Like everyone else in this new panicked world, small business owners throughout Pennsylvania awoke from this July 4th holiday weekend “hang-over” with fresh new concerns about what comes next for their businesses and their employees. Each news article and story published paints a grim forecast for local, national, and international businesses impacted by these challenging and difficult times. For the moment at least, another lifeline in the form of the COVID-19 Relief Statewide Small Business Assistance Program has been thrown out to small businesses in the Commonwealth of Pennsylvania that have been negatively impacted by the COVID-19 pandemic. Any stimulus for businesses at this time is a good thing for all; right now there are Two Hundred and Twenty-Five Million Dollars ($225,000,000) available in state grants for which small business owners in Pennsylvania can immediately apply.
On June 30 the Commonwealth of Pennsylvania began accepting applications for the $225 million in state grants now available in connection with the federal stimulus funds that were allocated for use by states in connection with the CARES Act (the Coronavirus Aid, Relief, and Economic Security Act) passed by Congress.
Small businesses that qualify for relief under the qualifications set by the COVID-19 Relief Statewide Small Business Assistance Program may receive grants ranging from Five Thousand Dollars ($5,000) to Fifty Thousand Dollars ($50,000). Applicable business can use such funds received pursuant to the program to help cover expenses during the present time. Funds earmarked under this relief program can be utilized with certain limitations restricting the funds for payment of operating expenses, payroll costs, technical assistance (including training and guidance for business owners), debt payment, and loan loss reserves.
Most importantly, this is not a “first-come; first-served program.” Instead, there are multiple rounds of applications windows. The first round of applications closes on July 14, 2020. Eligible businesses should seize this opportunity now.
There are many aspects of this program set up to insure that the funds are distributed to the businesses in Pennsylvania that need assistance the most. Specific eligibility qualifications of the program are detailed on the Pennsylvania Department of Community and Economic Development website at https://dced.pa.gov. This is also the portal for the submission of applications for these grants.
To consult with an attorney about your business’ eligibility for a grant, about submitting an application for a grant under this program, or to discuss any other legal or business related questions (whether about COVID-19 related matters or about any other matters) please feel free to contact Earp Cohn P.C. at (215)-963-9520, or at (856)-354-7700, or feel free to email firstname.lastname@example.org.