1,200 Philly Small Businesses Get Coronavirus Grant Funds

Philadelphia PA

07 October, 2020

11:59 AM

Description

PHILADELPHIA — More than 1,000 small businesses in Philadelphia were awarded state grant funding to help them recover from the coronavirus shutdown. Gov. Tom Wolf recently said $96 million in state grants have been approved for 5,373 Pennsylvania small businesses that were impacted by the business closure order due to the coronavirus public health crisis. The 5,373 businesses are located in every county across the state and 52 percent are historically disadvantaged businesses. In Philadelphia, 1,239 small businesses received grant funds. To date, more than 10,000 businesses were approved for $192 million in grants through the COVID-19 Relief Statewide Small Business Assistance Program. The COVID-19 Relief Statewide Small Business Assistance funding was developed in partnership with state lawmakers and allocated through the state budget, which included $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief and Economic Security (CARES) Act, of which $225 million was earmarked for relief for small businesses. The Department of Community and Economic Development distributed the funds to the Pennsylvania Community Development Financial Institutions, which are administering the grants.