$10.5M For Small, Historically Disadvantaged Businesses

A new grant program offered through the Pennsylvania Department of Community and Economic Development (DCED) is designed to help small, historically disadvantaged businesses that were impacted by the COVID-19 pandemic.

The program is offering $10.5 million in federal American Rescue Plan Act (ARPA) funding, with grants ranging from $2,500 to $10,000. The funding is available to businesses with under $1 million in annual revenues and fewer than 25 full-time employees who were in operation on or before March 17, 2020. All applications submitted through February 23, 2024, will be considered for funding.

“Since day one, I have advocated for long-overdue funding for women and minority-owned businesses across this Commonwealth to support their growth and open new doors of opportunity. Today, we make good on that promise,” said Governor Josh Shapiro. “I want every business owner to know that my Administration values what you bring to the table and that we are committed to breaking down barriers to progress and helping you build generational wealth. In Pennsylvania, we are open for business and working to build a Commonwealth where everyone can find and capitalize on real opportunities to grow and thrive.”

Businesses can apply for the grants through the PA Community Development Financial Institutions (CDFI) Network. Additional program priorities are available for businesses located in low-income census tracts, high-crime municipalities, and designated areas. More information is available on the application process and program guidelines on the CDFI Network website.

Story source: dced.pa.gov

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