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Relief Funding Updates for Businesses and Lenders

PPP Funds Still Available

For those who haven’t applied yet for the federal government’s Paycheck Protection Program, Seedcopa + SeedcoDE is being notified that there is still funding available as round two of the program continues.

The SBA resumed accepting Paycheck Protection Program applications from participating lenders on Monday, April 27th. As of this Wednesday, 5,422 lenders were participating with 2,441,369 approved loans totaling $183,525,851,829. Applications and the latest updates are available here.

Cancelling Additional Applications

Please note: If you applied to more than one bank for a PPP loan and are now confirmed that you’ve been approved – please cancel any outstanding applications with other banks. That will save bankers a lot of time, so they can attend to other small businesses still awaiting approval.

Chester County Main Street Preservation Program

Here’s an important update to the Chester County Main Street Preservation Program, as well as valuable online assistance with applications.

Eligibility Update:

The eligibility criteria has been revised for this program. Even if you have been accepted or received funding from Paycheck Protection Program (PPP), Economic Injury Disaster Loan Program (EIDL), or PA state COVID-19 Working Capital Access program (CWCA), YOU ARE ELIGIBLE to apply for the Main Street Preservation Grant Program. Please note that the level of funding received from these programs may impact the application’s competitiveness.

Handy Online Webinar:

Grant applications are being accepted this Monday, May 11, 2020 for Chester County’s Main Street Preservation Program. With $5 million in total funding and up to $25,000 available for an individual business, the program is being administered by the Chester County Economic Development Council. A valuable webinar gives assistance on applications and answers FAQs. You can access it here: https://ccedcpa.com/mainstreet/

Seedcopa

Seedcopa

For over thirty years, Seedcopa has helped businesses get the money they need to start, grow and expand. We are proud that the loan programs we work with promote economic development.

Together with economic development partners throughout Pennsylvania, we help to grow local businesses, create and retain jobs and stimulate local communities.

Our team has over 75 years of combined government lending experience and a dedication to excellent customer service. After our initial assessment of your project, our commitment is to get you approved and closed.

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