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Pennsylvania Gov. Tom Wolf announced $225 million in new funding -- in the form of grants, not loans -- for the state's small businesses that have been hurt by coronavirus shutdowns.
The money includes $100 million in grants for any small business that saw losses during the shutdown.
Another $100 million is set aside for "historically disadvantaged" businesses. In a later press release, the administration explained that those businesses are ones majority-owned by "socially and economically disadvantaged individuals" who also control daily business operations.
And $25 million is earmarked for paying off loans that small businesses had to take on during the pandemic.
The money can cover operating expenses and help businesses in their transition to reopening, Wolf said. It can also pay for technical assistance, including training.
The money comes from the federal CARES Act that is designed to help the nation recover from the coronavirus shutdowns.
