To be eligible to apply, a for-profit business must meet all three of the following:
- Be physically located, certified to do business, and generate at least 51% of their
revenues in Pennsylvania;
- Have annual revenue of $1 million or less prior to the impact of COVID-19; and
- Have 25 or fewer full-time equivalent employees prior to February 15, 2020.
The program will prioritize small businesses that are:
- Owned and operated by low and moderate-income people; or
- Located in areas of need including areas with a population having incomes significantly below the median income level, high levels of poverty, higher than average unemployment rates, or significant population loss.
- Types of businesses that were most impacted by the economic shutdown and experienced the greatest revenue losses.
In addition, the program will give additional consideration to the following factors: women-owned businesses, communities targeted for business investment by state government programs like Main Street and Elm Street, and rural communities.
At least 50% of the grants to small businesses will be awarded to Historically Disadvantaged businesses. Historically Disadvantaged businesses are at least 51% owned and operated by persons who are Black, Hispanic, Native American, Asian American, or Pacific Islander because they have traditionally been discriminated against and disadvantaged when seeking financial services and financial products.
In addition, the program will ensure that grant funds are awarded to small business located across the Commonwealth of Pennsylvania.
At a minimum, the following entities are ineligible for grant funding under this program:
- Businesses that are not physically based in Pennsylvania
- Businesses that are in active default (not on a payment plan) with taxes or fees owed to the Commonwealth or IRS
- Non-Profits, Churches and other religious institutions
- Government-owned entities or elected official offices
- Businesses experienced NO revenue loss and additional cost due to COVID-19
Other ineligible businesses will be specified at a later date.