Small businesses impacted by the spread of coronavirus and subsequent efforts to contain it may now apply for 0% interest loans from the Commonwealth, Rep. Ryan Warner (R-Fayette/Westmoreland) announced today.
The COVID-19 Working Capital Access (CWCA) Program is being administered through the Pennsylvania Industrial Development Authority (PIDA). Funds are limited and will be awarded on a first-come, first-served basis to qualified businesses employing 100 or fewer full-time employees. This includes businesses in the agricultural, service and hospitality sectors.
The maximum loan amount is $100,000 for working capital with a 0% interest rate, subject to the statutory requirement for the agriculture sector, and a term of three years.
All PIDA loan applications must be submitted through a Certified Economic Development Organization (CEDO). For the list of CEDO’s operating within Pennsylvania, please refer to www.dced.pa.gov/CEDO
More information about the CWCA Program is available at https://dced.pa.gov/programs/covid-19-working-capital-access-program-cwca/
Representative Ryan Warner
52nd Legislative District
Pennsylvania House of Representatives
Media Contact: Patricia Hippler