WEST CHESTER—Fifty small businesses in Chester County were awarded or will soon be awarded grant funding totaling over $1.1 million, state Senator Andy Dinniman announced.
The funding comes from the COVID-19 Small Business Grant award and is from the second round of relief for small businesses. The first application round drew a strong response with nearly 24,000 applicants.
The COVID-19 Relief Statewide Small Business Assistance funding was developed in partnership with state lawmakers and allocated through the state budget, which included $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, of which $225 million was earmarked for relief for small businesses.
“Small businesses are the backbone of our economy and they have been some of the hardest hit by this pandemic and the resultant shutdown and economic crisis,” Dinniman said. “This was a joint effort of the entire Chester County delegation, working together to help small and family-owned businesses manage costs, handle expenses, maintain operations and save jobs in the face of unprecedented challenges and difficult times. I want to thank every member of the Chester County state House and Senate delegation for coming together to support our small businesses.”
The 50 businesses supported in Chester County make up a portion of the 1,100 small businesses supported through this grant award across Pennsylvania.
The Department of Community and Economic Development (DCED) distributed the funds to the Pennsylvania Community Development Financial Institutions (CDFIs), which are administering the grants through three programs: $100 million for the Main Street Business Revitalization Program, $100 million for the Historically Disadvantaged Business Revitalization Program, and $25 million for the Loan Payment Deferment and Loss Reserve Program.