COVID-19: UPDATES & RESOURCES
- March 19, 2020
- Sarah Matzner
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COVID-19 Working Capital Access Program
The COVID-19 Working Capital Access (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. These loans will be administered on a first in/first approved basis, please act quickly if you are interested.
All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO). For McKean County, that is North Central Pennsylvania Regional Planning & Development Commission.
More information can be found by clicking this link: https://dced.pa.gov/programs/covid-19-working-capital-access-program-cwca/
SBA Disaster Loans
A disaster declaration for the entire state was submitted by the Governor’s office to the SBA. This request is currently being reviewed by the SBA’s Office of Disaster Assistance and when approved, a declaration will be issued by SBA Administrator Carranza. Once the declaration is issued, Pennsylvania’s small businesses will be able to go to https://sba.gov/disaster to apply for an Economic Injury Disaster Loan (EIDL). These loans are for small businesses and private non-profits negatively impacted by the coronavirus and can be up to $2 million.
Please see the PDFs below for more information on this process:
From the Governor’s Office on the Economic Injury Disaster Loans: https://www.governor.pa.gov/newsroom/gov-wolf-economic-injury-disaster-loans-available-to-small-businesses-and-non-profits-facing-losses-related-to-covid-19/
Latest Order from Governor Wolf: https://www.governor.pa.gov/wp-content/uploads/2020/03/20200319-TWW-COVID-19-business-closure-order.pdf
Senator Bob Casey’s Small Business Owners Guide to the CARES Act for PA: https://drive.google.com/file/d/1C-cScPEPgw4rTxqDuN-VbXROuO0Pjkyk/view?usp=sharing
DCED Contact Information
email@example.com – A resource account to send questions about whether businesses need to close
RAfirstname.lastname@example.org – A resource account if businesses want to apply for a waiver and want information on the process (DCED will email back with information about the process tomorrow)
From the City of Bradford
From McKean County