The Commonwealth of Pennsylvania has allocated $145 million to counties for a grant program to provide financial relief to businesses with a primary activity in NAICS Code subsector 721 (Accommodations) and 722 (Food Service and Drinking Places) per Senate Bill 109, known as Act 1 of 2021, signed by Governor Wolf on Friday, February 5th, 2021.
Applications will be accepted from March 15, 2021 to April 2, 2021. Awards will be based on need fund availability and will be first come, first serve. For more information, visit the Bucks County Economic Development Corporation website
Bucks Back to Work Small Business Grant Round 2 – launching September 14th
The Bucks Back to Work program is funded through the Federal CARES Act with the goal to lessen the financial stress that the COVID-19 pandemic has caused on Bucks Businesses. For questions regarding this program please email firstname.lastname@example.org. We will do our best to get a response back to you within twenty-four hours of receiving your inquiry and appreciate your patience in advance.
Click here for the Bucks Back to Work Grant Overview*
DCED will distribute the funding to the Pennsylvania CDFI Network, which will then administer the funding in the form of:
Grants to cover operating expenses for the duration of the shutdown and the transition period to re-opening
Grants to cover technical assistance, including training and guidance, for business owners as they stabilize and relaunch their businesses
Debt payment relief for CDFI Pennsylvania borrowers
Loan loss reserves for CDFIs
The funds will be distributed in three ways:
Main Street Business Revitalization Program: $100 million
Historically Disadvantaged Business Revitalization Program: $100 million
Loan payment deferment and loss reserve: $25 million
In addition, the program will give additional consideration to the following factors: women-owned businesses, communities targeted for business investment by state government programs like Main Street and Elm Street, and rural communities.
At least 50% of the grants to small businesses will be awarded to Historically Disadvantaged businesses. Historically Disadvantaged businesses are at least 51% owned and operated by persons who are Black, Hispanic, Native American, Asian American, or Pacific Islander because they have traditionally been discriminated against and disadvantaged when seeking financial services and financial products.