Pennsylvania Establishes $225 Million Grant Fund To Help Small Businesses

Chester County Press
Tuesday, June 16, 2020

In partnership with the 17-member Community Development Financial Institutions (CDFI) network and lawmakers, Pennsylvania Gov. Tom Wolf recently announced the launching of a $225 million statewide grant program that will go to support small businesses throughout the state that have been impacted by the COVID-19 public health crisis and the subsequent business closure order. CDFI is a group of 17 Pennsylvania-based community development financial institutions that primarily provide financing options for small businesses. The fund will be distributed through the recently enacted state budget, which includes $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.