Pennsylvania Industrial Development Authority (PIDA) – Small Business First Fund

Agency / Department: Pennsylvania Industrial Development Authority (PIDA)

Resource: Small Business First Fund

Details: The Pennsylvania Industrial Development Authority (PIDA) will administer the Small Business First Fund with $61 million available initially for business assistance, according to a news release from state Sen. Lisa Boscola.

Funds through this emergency response fund will be used for working capital loans of up to $100,000 directly to small businesses and hopefully nonprofits (those that employ 100 or fewer persons), Boscola said. The interest rate is currently 3%, however the PIDA board can adjust the interest rates to as low as 0%.

How to apply: N/A

Link: https://dced.pa.gov/programs/covid-19-working-capital-access-program-cwca/