The Program offers grants ranging from $5,000 to $50,000 for small businesses economically impacted by COVID-19. The new application window will open August 10, 2020 and run through August 28, 2020. This will be the final opportunity to apply for the Program.
The first round of applications opened on June 30, 2020, and closed on July 14, 2020. Applicants who participated in the first round should receive notification of their application status by August 10, 2020. These applicants do not need to submit a second application. Qualified first-round applications will be automatically rolled over into the second round.
The Small Business Assistance Program is administered through the Pennsylvania Community Development Financial Institution Network. Unlike many other funding programs, awards will not be made on a first-come, first-served basis. Detailed application instructions and an FAQ can be found here.
The SBA Focus Group of the COVID-19 Task Force at Klehr Harrison stands ready to assist you in your business and legal needs. We will continue to provide additional information and guidance as the Pennsylvania Statewide Small Business Assistance Program is implemented.
Author Patrick McKnight is an associate in the Litigation Department at Klehr Harrison.