We are happy to report that program guidelines for CWCA, a program supplying working capital to businesses negatively impacted by the COVID-19 pandemic, were approved by the PIDA (PA Industrial Development Authority) Board on March 23, 2020.
PROGRAM DETAILS (Subject to change)
Where to Apply:
The Schuylkill Economic Development Corporation (SEDCO) and the Northeast Pennsylvania Alliance are the Certified Economic Development Organizations (CEDOs) for Schuylkill County and are your portal to this funding stream.
Any for-profit businesses located in Pennsylvania and with 100 or fewer employees worldwide are eligible to apply for disaster relief loans. Your application must be processed through the CEDO designated for the county where your business is physically located, which will be SEDCO or NEPA for Schuylkill County.
Eligible Uses of Loan Proceeds:
- 100% of working capital costs incurred in the last three months for most businesses (including debt service, excluding fixed assets). Businesses in the retail/service sector can include working capital costs that were incurred in the last six months, however only 50 percent of those costs will be eligible which calculates to three months of business expenses
- “Future” or “projected” costs are not eligible
- NOTE: This program will require you to document the last three (3) months [ or six (6) months for retail & service companies ] of working capital expenditures