45 county businesses receive relief grants
Grants of $5,000 to $50,000 were awarded in all 67 Pennsylvania counties to small businesses affected by the coronavirus pandemic.
According to a Monday morning news release from Gov. Tom Wolf's office, 45 businesses in Butler County received grants.
The highest number of businesses to receive grants was in Philadelphia County, at 1,130.
Forest County businesses received the fewest, at four grants.
The $96 million in grants were awarded to a total of 4,933 small businesses across the state. Historically disadvantaged businesses received 51 percent of the grant funding.
Historically disadvantaged businesses are at least 51 percent 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, according to the state Department of Community and Economic Development website.
“As we continue to address this public health crisis, it's critical that we also focus on our state's economic recovery and supporting our small businesses across the state, which continue to be impacted by our necessary mitigation efforts,” Wolf said. “This funding will go a long way to help small businesses, including historically disadvantaged businesses, at a time when they need it most.”
The state received $2.6 billion in federal Coronavirus Aid, Relief and Economic Security (CARES) funding, $225 million of which was earmarked for relief for small businesses.
The funds can be used by small businesses for:
n Operating expenses during the shutdown and the transition to reopen
n Technical assistance, including training and guidance to stabilize and relaunch a small business
n Loan loss reserves for state Community Development Financial Institutions (CDFIs)
n Debt payment relief for CDFI borrowers.
The state DCED will distribute the funding to the CDFI network, which will then distribute the funding to the small businesses.
Small businesses can apply for the second and final round of funding until Aug. 28. Business owners who applied but were not awarded in the current funding need not reapply.
For more information on the COVID-19 Relief Statewide Small Business Assistance Program, go to dced.pa.gov and search for small business assistance.
