Small business loans available

HARRISBURG — Small businesses impacted by the COVID-19 public health emergency can apply now for low-interest state loans, according to Sen. Judy Ward, R-Hollidaysburg.

The COVID-19 Working Capital Access Program will feature a low interest rate, no application fees and payments and interest waived during the first year of the loan. Loans of up to $100,000 will be available for small businesses with 100 or fewer full-time employees to use as working capital.

“These are challenging times, and it is my hope that this assistance will provide some much-needed relief to our small businesses, which are the lifeblood of our communities” Ward said.

The program will be administered by the Penn­sylvania Industrial Devel­op­ment Authority, which said it intends for the turnaround time for loan approval to be a matter of days. Additional information on the program is available at www.dced.pa.gov/cwca.

Business owners who are interested in applying should contact their local Certified Economic Devel­op­ment Organization. A list of CEDOs is available at https://dced.pa.gov/cedo/.


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