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Department of Community and Economic Development – Loan Payment Deferment and Loss Reserve Program

Agency / Department: Department of Community and Economic Development

Resource: Loan Payment Deferment and Loss Reserve Program

Details: $25 million for the Loan Payment Deferment and Loss Reserve Program, which will allow the CDFIs the opportunity to offer forbearance and payment relief for existing portfolio businesses that are struggling due to the impact of COVID, as well as shore up the financial position of the CDFIs that are experiencing significant increased defaults in their existing loan portfolios.

Link: https://www.governor.pa.gov/newsroom/gov-wolf-announces-225-million-grant-program-for-small-businesses-impacted-by-covid-19/

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