HARRISBURG, Pa. (WTAJ) — The Department of Community and Economic Development (DCED) Secretary Dennis Davin announced Saturday that 126 companies in 30 counties have received the first round of approved funding through the COVID-19 Working Capital Access Program (CWCA), totaling more than $10 million.
The new program was developed under the Pennsylvania Industrial Development Authority’s (PIDA) Small Business First Fund. The loans are expected to help small businesses get the quick access they need to address their deficiencies.
“Small businesses are the fabric of our commonwealth, and the Wolf Administration is committed to supporting them to the fullest extent during this unprecedented time,” said Sec. Davin.
Eight businesses across Elk, Jefferson and Blair Counties were included in the 130 businesses who will be receiving funding:
- River Grille, LLC ($100,000)
- Evolution Alternative Physical Therapy and Wellness Studio, LLC ($47,000)
- Park Audio & Video II, Inc. ($100,000)
- Park and Installations, Inc. ($100,000)
- Okonak, Dean & Lechner, PC ($100,000)
- Straub Brewery ($100,000)
- Kunes Castle ($100,000)
- Cathedral Pines, Inc. ($100,000)
Governor Wolf announced on March 25 that the Commonwealth Financing Authority (CFA) authorized the transfer of $40 million to the Small Business First Fund for CWCA.
PIDA authorized making $60 million available to provide loans of $100,000 or less to for-profit businesses with 100 or fewer full-time employees.
To view the full list of businesses who will be receiving funding, click here.