PA Small Businesses Get a loan Help with coronavirus | Zoom Fintech

HARRISBURG, PA – In Pennsylvania, 160 corporations in 43 counties received 13.5 million low-interest loans under the second part of the coronavirus relief program, state officials announced on Sunday.

The funding comes from the COVID-19 Working Capital Entry Program, introduced by Dennis Davin, state secretary of the Neighborhood and Financial Growth Division.

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A total of $ 23 million has been allocated through this system to dining establishments, wellness facilities, vineyards, breweries, spa salons, and various businesses that have been hit by the coronavirus shutdown.

“These loans will help Community companies that will soon enter capital to meet their basic needs while we follow the instructions of the governor and secretary of health,” said Davin. “Small businesses are the stuff of our community, and the Wolf administration is committed to supporting them to the fullest in this unprecedented time.”

The list of accredited tasks can be found here. New payouts are highlighted in yellow.

On March 25, Governor Tom Wolf announced that the Commonwealth Financing Authority had approved a $ 40 million transfer to the fund. Another $ 61 million has been set aside to offer loans of $ 100,000 or much less to for-profit companies with 100 or fewer full-time employees.

Government employees constantly review loan objectives. Data for future awards will likely be launched as it becomes obtainable.

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Without the necessary restaurant orders, farmers are destroying crops, while meal banks see unprecedented demand due to coronavirus-related unemployment.

by Beth Dalbey, Patching workers

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