More than $200 million in grant money available for local businesses at risk of closing due to COVID-19

There is more than $200 million in assistance grants strictly for Pennsylvania small businesses trying to get back on their feet after a months-long shutdown due to COVID-19.

Many small businesses across the state are still operating at a limited capacity in the green phase.

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Sen. Lindsey Williams hosted a townhall Zoom call Wednesday, inviting small business owners to listen and ask questions about a new round of grants coming to help small businesses in the state. They also reassured owners that the process will be streamlined and simpler this time around.

“We know our small businesses have taken a hit and really taken the brunt of the COVID-19 closure,” Williams said.

The funding is from the Pennsylvania Department of Community and Economic Development, with the following:

• $100 million for Main Street Business Revitalization Program
• $100 million for Historically Disadvantaged Business Revitalization Program
• $25 million for Loan Payment Deferment and Loss Reserve Program

The grants will be distributed through community development financial institutions.

Mark Masterson, who works with the Northside Community Development Fund, said there are about one million businesses estimated that would be eligible. That would mean each business would only receive $200 if they all qualified.

“If you do the math, $200 for (each) business, so there has got to be some decisions how those funds are targeted,” he said.

Officials working with the state said eligible businesses will have to have 25 full-time employees or less to qualify.

There will be oversight to make sure franchises don’t “double dip” and businesses that have experienced the biggest losses receive the most help.

“The money won’t be first come, first serve,” Masterson said. “It will give everyone the opportunity to apply, make the process more fair as people learn they can apply and get assistance.”

Officials said the final details about this application process and the grants are still being finalized, but they expect to open for round one of applications in early July.

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