Local Action Alert
Jul 31, 2020 05:25PM ● By Dave Korba
To
be eligible to apply, a business must be physically located,
certified to do business and generate at least 51 percent of their revenues in
Pennsylvania; have annual revenue of $1 million or less prior to the impact of
COVID-19; and have 25 or fewer full-time equivalent employees prior to February
15, 2020.
The
program will prioritize small businesses that are owned and
operated by low and moderate-income people; or located in areas of
need including areas with a population having incomes significantly below the
median income level, high levels of poverty, higher than average unemployment
rates or significant population loss; types of businesses that were most
impacted by the economic shutdown and experienced the greatest revenue losses.
Additional consideration will be given to women-owned businesses and
communities targeted for business investment by state government programs like
Main Street and Elm Street and rural communities.
At least
50 percent of the grants to small businesses will be awarded to Historically
Disadvantaged businesses. 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.
In
addition, the program will ensure that grant funds are awarded to small
businesses located across the Commonwealth of Pennsylvania.
For more information, visit PABusinessGrants.com.