The state has created the COVID-19 Working Capital Access Program (CWCA) to help small businesses hurt by COVID-19.
Gov. Tom Wolf announced the new program Wednesday, March 25. It will operate under the Pennsylvania Industrial Development Authority’s (PIDA) Small Business First Fund.
There will be $60 million available to provide loans of $100,000 or less to for-profit businesses with 100 or fewer employees.
Funds will be available this week.
In a related matter:
- A series of live webinar training sessions will take place this week to help small business owners and nonprofits understand the SBA Economic Injury Disaster Loan (EIDL) Program being created because of the impact of the coronavirus.
- The U.S. Small Business Administration (SBA) Eastern Pennsylvania District Office and the Chester Delaware Counties SCORE Chapter are holding the training.
- The webinar will provide answers and help residents understand:
-Who is eligible for an SBA Disaster (EIDL) loan;
-What you need to have in hand before filing your application;
-Q&A time devoted to answer your specific questions.
Webinars are being held daily through April 3 from noon to 1:30 p.m.
Log in information: https://score.zoom.us/j/723846010
Please call the SBA District Office at 610-382-3062 with any questions about the training.