The state of Pennsylvania approved millions of dollars in aid to help small businesses in the commonwealth impacted by COVID-19, the Philadelphia Business Journal reports.
The $60 million COVID-19 Working Capital Access Program will provide up to $100,000 in loans to small businesses with 100 or fewer full-time employees.
"My top priority is to save Pennsylvania lives, then save their livelihoods,” Gov. Tom Wolf said in a statement. “I am utilizing every resource available to assist Pennsylvania's business during this incredibly difficult time, and this small business funding availability is a step in the right direction.”
Wolf ordered all non-life-sustaining businesses to close earlier this month to mitigate the spread of the virus, and unemployment claims shot up in the state after dozens of businesses closed their doors "until further notice."
All loan applications must be made through a Certified Economic Development Organization, and a list of those organizations can be found here.
Read more about Pennsylvania's small business loan program at PBJ.com.
Keep up with all your business news at the Philadelphia Business Journal.
