NOTE: As of 6 p.m. on March 31, the Pennsylvania Department of Community and Economic Development no longer is accepting applications for the COVID-19 Working Capital Access Program (CWCA). The applications received as of that time surpassed the funding available to the program.

PIDA’s Small Business First Fund will provide $61 million to help businesses through the emergency. Under PIDA’s COVID-19 Working Capital Access Program (CWCA), for-profit small businesses with 100 or fewer employees worldwide could be eligible for working capital loans up to $100,000.

What You Need to Know:

  • Eligible Businesses: For-profit businesses located in Lehigh and Northampton counties with 100 or fewer employees may qualify for disaster relief loans.
  • Loan Amount: The maximum loan amount is $100,000.
  • Eligible Costs: Eligible costs include operating costs incurred 3 months prior to the submission of the application. Retail/service enterprises are eligible for up to 50% of working capital costs incurred up to six months prior to submission of the application. Working capital are costs used for operations excluding fixed assets and production machinery and equipment. Note: This program is reimbursable. You will be required to document the last three (3) months (or six (6) months for retail & service companies) of working capital expenditures at closing.
  • Interest Rates: Interest rates are 0% for eligible businesses and 2% for agricultural producers.
  • Amortization: 12 years
  • Term: 3 years
  • Repayment: No payment in first year, with amortized payments monthly for the following 24 months, and one balloon payment due at the end of the third year
  • Guarantors: Each individual or other business entities owning 20% or more of applicant business must guarantee the loan.
  • Collateral: The loan shall be secured by a blanket lien on all business assets currently owned or acquired in the future at the highest lien position available.
  • Fees: $500 application fee for approved loans, payable at closing. The application fee can be financed as part of the loan.

For more detailed application information and to view the guidelines, review this fact sheet and the program guidelines.

Preparing Your Application

As an organization that takes the privacy and security of your financial information seriously, we are using SharePoint to collect your application documents. SharePoint provides a more secure way to upload your application documents rather than sending via email.

NOTE: As of 6 p.m. on March 31, the Pennsylvania Department of Community and Economic Development no longer is accepting applications for the COVID-19 Working Capital Access Program (CWCA). The applications received as of that time surpassed the funding available to the program.

To begin preparing your application, see the list of required documents below. All items received must be completed in full in order for your application to be submitted to the state.

  • Single application for assistance form (download form here)
  • A project narrative including the following information: (a) amount of the loan request (b) a brief description indicating whether or not the applicant business temporarily closed operations due to COVID-19 and if so, the date the closure started as well as the date operations resumed, if applicable (c) a brief description of the adverse financial impact caused to date by COVID-19 and (d) a brief description for how the working capital loan proceeds will be used to finance the business operations.
  • A company profile sheet. (download form here)
  • A signed W-9 form for any individual or entity serving as a borrower or co-borrower. (download form here)
  • A signed certification sheet for the applicant company(s) and each principal or entity with 20% or more ownership (download form here)
  • For businesses with an operating history of one year or more, if available, the most recent year end accountant prepared financial statements or the most recent filed tax return.
  • For businesses with less than a year operating history, the most recent available management prepared financial statements.
  • Debt schedule outlining all existing debts of the operating entity. This form is not required if accountant prepared financials are provided and include a detailed debt schedule. The debt schedule should be downloaded, completed, and attached to the ESA submission. (download form here)
  • Signed and dated personal financial statement no less than 12 months old for all individuals with 20% or greater ownership in the eligible business enterprise. The personal financial statement should be downloaded, completed, and attached to the ESA submission. (download form here)
  • The most recent year of financial statements for any entity other than an individual with 20% or more ownership in the eligible business enterprise.
  • An individual credit report less than six months old for any individual with 20% or more ownership in the operating entity. Note: The Federal law allows you to get a free copy of your credit report every 12 months from each credit reporting company through www.annualcreditreport.com
  • Fee commitment letter, signed and dated (download form here)

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