COVID-19 Working Capital Access Program (CWCA)

COVID-19 Working Capital Access Program (CWCA) Guidelines Contact Us The COVID-19 Working Capital Access Program is now closed. Overview The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak. All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO). For the list of CEDO’s operating within Pennsylvania, please refer to the CEDO webpage . Uses Working capital, which for purposes of this program is considered capital used by a small business for operations, excluding fixed assets and production machinery and equipment. Eligibility An eligible small business enterprise is a for-profit corporation, limited liability company, partnership, proprietorship or other legal business entity located in the Commonwealth of Pennsylvania and having 100 or fewer full-time employees worldwide at the time of submission of the application. For purposes of this program a retail/service enterprise is defined as a for-profit business entity that is involved in the business-to-business service, business-to-public service, mercantile, commercial, or point of sale retail sectors. An agricultural producer is defined as a business involved in the management and use of a normal agricultural operation for the production of a farm commodity. A “farm commodity” is any Pennsylvania-grown agricultural, horticultural, aquacultural, vegetable, fruit, and floricultural product of the soil, livestock and meats, wools, hides, furs, poultry, eggs, dairy products, nuts, mushrooms, honey products, and forest products. Funding The maximum loan amount is $100,000. Terms Loan terms are three years with a 12-year amortization. In addition, 1) No payments will be due and payable during the first year, 2) Principal and if applicable, interest p