Penn. Announces $225 Million to Small Businesses
June 15, 2020—Last Monday, Pennsylvania Gov. Tom Wolf announced $225 million in government money will be made available to small businesses that were impacted by the coronavirus, according to a story by The Philadelphia Inquirer.
The money comes from the CARES Act and will first be passed to community-development lenders and nonprofits that help small business owners and these lenders will distribute the grants, according to the story.
Any business with less than $1 million in sales or less than 25 employees is eligible for the new aid, Daniel Betancourt, chief executive officer of Community First Fund, told The Inquirer. Grants are expected to be $5,000 to $50,000 per business, which must be based in Pennsylvania and be current on all taxes at least through 2018.
Other states have also offered more coronavirus relief to small businesses, including $22 million to small businesses in Fort Bend County in the Houston, Texas area, according to the Houston Chronicle. And on Friday, Nebraska Gov. Pete Ricketts announced four new relief programs as part of the CARES Act to help individuals affected by the pandemic, according to a report from 1011 NOW. The Nebraska Small Business Stabilization Grant allocates $330 million to help cover operating expenses for Nebraska small businesses and livestock producers.