Today, we have received a communication from PIDC that shared a new grant program that is available to certain businesses in PA. See below more details, like priority businesses and eligibility requirements, and the link to the application at the bottom of this post.

“…In partnership with the Pennsylvania Department of Community and Economic Development, the Pennsylvania CDFI Network is pleased to announce the opening of grant applications for the Historically Disadvantaged Business Assistance (HDBA) Grant Program.

…The program will give priority to small businesses located in:

  • A low-income census tract as defined by the U.S. CDFI Fund
  • A municipality that has a crime rate higher than the state average per capita
  • A municipality that has a crime rate 125 percent of the state average per capita
  • A designated priority commercial area, which includes Commercial Corridors (for Philadelphia), Neighborhood Business Districts (for Pittsburgh), Allegheny Together communities (for Allegheny County), and active Main Street Program areas (in other parts of the state)

…ELIGIBILITY REQUIREMENTS – To be considered eligible for this grant program, a small business must:

  • Be at least 51% owned and operated by individuals that identify as African American, Black, Hispanic, Native American, Asian American, or Pacific Islander. This target population is based on the U.S. Treasury Department’s definition of disadvantaged individuals that historically lack access to financial services,
  • Generate annual revenues of less than $1 million,
  • Generate 51% or more of revenues in Pennsylvania,
  • Employ 25 or fewer full-time equivalent employees,
  • Have been negatively impacted by COVID-19,
  • Be in operation on or before March 17, 2020,
  • Be in operation when they apply for and receive HDBA grant funding,
  • File a Pennsylvania tax return, and
  • Be current on federal, state, and local taxes.”

 

More about the HDBA grants and apply to the grant (bottom of the page) – Pennsylvania CDFI Network Historically Disadvantaged Business Assistance Program