On Monday, June 8, Governor Tom Wolf announced a $225 million statewide grant program to small businesses impacted by the Coronavirus. These funds are available through these three programs:
- $100 million for the Main Street Business Revitalization Program – for those small businesses that lost money because of the March 19 order that closed their operations or had unexpected costs to reopen
- $100 million for Historically Disadvantaged Business Revitalization Program – for those small businesses owners that are either socially or economically disadvantaged and suffered a business loss or incurred unexpected costs to reopen related to COVID-19
- $25 million to Loan Payment Deferment and Loss Reserve Program – would allow community-development lenders to give small businesses additional funds
Eligibility requirements are: businesses with less than $1 million in revenue or less than 25 employees, current on all taxes at least through 2018 and based in Pennsylvania.
For more information about these grants, visit https://dced.pa.gov/tag/dced-funding/
In addition to these grants, the Wolf administration is offering other relief to taxpayers such as: increased flexibility, additional time to meet tax obligations, and a pause on several of its standard enforcement actions. This temporary relief will remain in effect through at least July 15, 2020.
For more details on this specific relief, visit the Pennsylvania Department of Revenue’s website and the COVID-19 information page https://www.revenue.pa.gov/Pages/COVID19.aspx
The hope is that all of these programs and relief activities will aid people and businesses to make it through during this challenging time.