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On March 25, 2020, Governor Tom Wolf announced new funding available to small businesses impacted by the novel coronavirus, COVID-19. The new program, the COVID-19 Working Capital Access Program (CWCA), is administered by the Pennsylvania Industrial Development Authority (PIDA). We have provided a basic summary of the program below and links to the application process.

If you have any questions concerning the program, please contact your Maillie LLP representative via phone or email.

Here is a basic summary of the program:

Eligible Businesses
For for-profit business enterprise with fewer than 100 or fewer full-time employees.

Eligible Costs
Working capital which is considered capital used by small business for operations, excluding fixed assets and production machinery and equipment.

Borrower and principals must be current on its tax liabilities.

Loan Amount
Capped at $100K and there aren’t any job retention/creations requirements.

Up to three years (amortized over 12 years) at an interest rate of 0% with no payments for the first 12 months.

Loans shall be secured by a blanket lien on all business assets currently owned or acquired in the future at highest lien position possible.

Loan shall be guaranteed by any individual or entity with 20% or greater ownership interest in the business enterprise.

Debt Service Requirement
Overall debt service coverage ration should be at least 1:1 or better.

Application Process

Applications are submitted through a Certified Economic Development Organization (CEDO) and administered by PIDA

Delaware County
Chester County
Bucks County
Berks County
Montgomery County– Applications for the lower half of Montgomery County will go through Bucks County’s EDC and the upper half of Montgomery County will go through Berks County’s EDC.

You can find the Working Capital Access Program Guidelines here: