Restaurant Revitalization Fund (RRF) Grant Information
The Restaurant Revitalization Fund will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. The minimum grant amount will be $1,000 and the maximum will be $5 million. If your calculations show that your reduction on income was less than $1000, then you ...Read more
Huntington’s Lift Local Business Program Focused on Growing African American Businesses
Huntington’s Lift Local Businesses, a $25 million small-business lending program focused on serving minority, women, veterans-owned-businesses includes the following features: Loan amounts from $1,000 – $150,000; Access to capital at a low cost to your business; Zero origination fees; Huntington pays your SBA fees; Lower credit score requirements; Free financial education courses ($1,500 value).Read More
Southwestern Pennsylvania Commission has established a COVID-19 Recovery Loan Program
Under this program, small businesses can apply for financing to help pay for current employee salaries, including salaries for those individuals who may have been furloughed due to the outbreak. Businesses can also use the loan proceeds to help pay for rent and utilities, as well as inventory purchases. SPC will consider proof of expenses ...Read More
The PA 30-Day Fund
The Pennsylvania 30 Day Fund will deploy at least $100,000 for diverse small businesses who have suffered loss due to property damage and looting. The nonprofit organization provides $3,000 forgivable loans to small business owners who complete a simple application and submit a video. Read more.Read more
The SBA is Accepting New Economic Injury Disaster Loan (EIDL) and EIDL Advance Applications
EIDL Overview: Low-interest loan at 3.75% for for-profit entities; non-profit organizations are eligible at 2.75%; Term for EIDL is up to 30 years and there is a one-year deferral from date of loan approval; Loan eligibility is up to $2 million; EIDL Advance is $1,000/employee up to $10,000. EIDL Advance does not have to be repaid ...Read more