New State Grant Opportunity for Small Businesses Affected by COVID-19!
Learn how to apply and more during a Webinar with Representative Ryan Bizzarro and Bridgeway Capital.
Monday, June 29th at 7:00 p.m.
Access the ZOOM webinar here
The meeting ID is 991 9658 6146 and the password is 648682
The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program will provide grants ranging from $5,000 to $50,000 to small businesses that have been economically impacted by COVID-19.
ECGRA lending partner, Bridgeway Capital, will support small businesses in western Pennsylvania to access the grant funds.
This is not a first-come, first-served program. There will be multiple rounds of application windows. The application window for the first round of funding is expected to open on June 30, 2020. Additional application rounds will be announced soon.
Businesses are encouraged to start gathering the items that will be needed to apply.
TO BE ELIGIBLE TO APPLY, A BUSINESS MUST:
- Be physically located, certified to do business, and generate at least 51% of their revenues in Pennsylvania;
- have annual revenue of $1 million or less prior to the impact of COVID-19; and
- have 25 or fewer full-time equivalent employees prior to February 15, 2020
THE FOLLOWING ENTITIES ARE INELIGIBLE TO APPLY:
- Businesses that are not physically based in PA
- Businesses that are in active default (not on a payment plan) with taxes or fees owed to PA or IRS
- Non-Profits, churches, and other religious institutions
- Government-owned entities or elected official offices
- Businesses that experienced NO revenue loss and additional costs due to COVID-19
Other ineligible entities will be specified at a later date.
THE PROGRAM WILL PRIORITIZE SMALL BUSINESSES THAT ARE:
- Owned and operated by low and moderate-income people; or located in areas of need including areas with a population having incomes significantly below the median income level, high levels of poverty, higher than average unemployment rates, or significant population loss.
- Types of businesses that were most impacted by the economic shutdown and experienced the greatest revenue losses.
The program will ensure that grant funds are awarded to small businesses located across the Commonwealth of Pennsylvania.
At least 50% of the grants to small businesses will be awarded to Historically Disadvantaged businesses.
Historically Disadvantaged businesses are at least 51% owned and operated by persons who are Black, Hispanic, Native American, Asian American, or Pacific Islander because they have traditionally been discriminated against and disadvantaged when seeking financial services and financial products.
In addition, the program will give additional cons
- Women-owned businesses
- Communities targeted for business investment by state government revitalization programs like Main Street and Elm Street
- Rural communities
Information Needed to Apply
The following items will be needed to apply. Additional items may be specified later:
- Government Issued Photo ID such as a Driver’s License or Passport
- Business financial information:
Revenue from March 1st to May 31st for 2019 and 2020
- Most recently submitted Federal Tax Return. 2018 or 2019 business and personal tax returns including Schedule C
- If startup between January 1-February 15, 2020, Internal Profit & Loss Statement
- Proof of Business Registration with PA Department of State, as applicable:
- Articles of Incorporation for corporations and LLCs; or Fictitious Name Registration/“Doing Business As” for Sole Proprietors; or
Business License if applicable
Bank Account Information
• CDFI network serving the Northwest Region listed by county:
Clarion County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Reinvestment Fund
Crawford County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Reinvestment Fund
Erie County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Reinvestment Fund
• Beech Capital
Forest County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Reinvestment Fund
Lawrence County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Northside Community Development Fund
• Reinvestment Fund
Mercer County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Reinvestment Fund
Venango County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Bridgeway Capital | Cathryn Easterling | ceasterling@bridgewaycapital.org | 814-451-1172
• Reinvestment Fund
Warren County:
• Progress Fund | Eric Neice |eneice@progressfund.org | 724-420-3574
• Reinvestment Fund
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