Tartaglione Announces Awarding of $3 Million in Small Business Assistance Grants within 2nd Senate District
Additional SBA grants will be distributed in the coming weeks as part of a $225 million COVID-19 relief program created by the Pennsylvania General Assembly in May.
Philadelphia, PA – September 15, 2020 – State Senator Christine Tartaglione today announced that 183 small businesses in and around the 2nd Senate District have received or will soon receive a combined $3,050,000 in COVID-19 relief funding from the Commonwealth as part of Pennsylvania Statewide Small Business Assistance, a $225 million program created in the comprehensive PA CARES legislation adopted by the General Assembly in May.
These local businesses are among 647 in Philadelphia and more than 3,000 statewide that have completed all required financial verifications and accepted the terms of the grant program in writing. In all, approximately 5,000 Pennsylvania businesses, including more than 1,100 in Philadelphia, have received preliminary approval for individual grants of up to $50,000. Additional verifications will be announced as they occur in the coming weeks.
“We are at a critical juncture for Pennsylvania’s small businesses and have been so since the very beginning of the COVID-19 emergency in March,” Senator Tartaglione said. “My General Assembly colleagues and I have been working very hard to provide resources to all those who have been negatively impacted by the pandemic, including small businesses and their employees. These funds will help them cover operating expenses, reopening costs, technical assistance, risk reduction training, and debt relief.”
The list of successful grant applicants includes many business types impacted most by the coronavirus, such as restaurants and taverns, hair salons and barber shops, childcare centers, and special events facilities, as well as more-specialized business types such as bridal shops, bakeries, chiropractors, gift stores, and commercial art studios.
The grant program is being administered through 17 nonprofit Community Development Financial Institutions (CDFIs) that have been certified by the Commonwealth and whose primary activity is providing financing options for small businesses. As of September 4, more than $55 million had been distributed or received final approval for distribution.
Two rounds of applications were conducted to provide interested businesses with multiple opportunities to apply for these limited funds. The final application window concluded on August 28. To be eligible, businesses must have been in operation prior to February 15, 2020, and had 25 or fewer full-time equivalent employees prior to that date; had annual revenue of no more than $1 million prior to the pandemic; and been generating at least 51% of their revenues in Pennsylvania. Priority was given to applicants with women ownership, those located in designated “Main Street” or “Elm Street” districts, those in rural communities, and those that are at least 51% owned and operated by persons who are Black, Hispanic, Native American, Asian American, or Pacific Islander. For more details about the program, visit www.pabusinessgrants.com.
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If you would like more information about this topic, please contact William Kenny at 215-533-0440 or William.Kenny@pasenate.com.