HARRISBURG, Pa. (KDKA) – Gov. Tom Wolf has announced $60 million in funding for small businesses struggling amid the coronavirus outbreak.
Gov. Wolf admitted that restrictions put in place to mitigate the spread of coronavirus has small business owners worried, which is why loans of up to $100,000 will soon be available to for-profit businesses with 100 or fewer full-time employees.
“I vow to save Pennsylvania lives, and then save their livelihoods,” Gov. Tom Wolf said at a Wednesday afternoon press conference.
The Commonwealth Financing Authority authorized a $40 million transfer to the Small Business First Fund for the COVID-19 Working Capital Access Program. The Pennsylvania Industrial Development Authority will make $60 million available for the loans.
Funds are expected to become available this week.
For more information about businesses eligible for loans, click here.
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