COVID-19 Working Capital Access (CWCA) Program to Assist Small Businesses
* THIS APPLICATION IS CURRENTLY CLOSED UNTIL WE HEAR MORE INFORMATION FROM THE STATE*
JARI wants to make sure local businesses stay informed on the programs and services available to assist them through the economic challenges caused by the COVID-19 outbreak.
Please see the information below regarding the $61 million available through the new program under the Pennsylvania Industrial Development Authority's (PIDA) COVID-19 Working Capital Access Program (CWCA).
Program Details
- Click here for a list of full guidelines
- Access point for this program: JIDC is the Certified Economic Development Organization (CEDO) for Cambria county. All other counties, click here to find your CEDO.
- Eligible Businesses: Any for-profit businesses located in PA and with 100 or fewer full-time employees worldwide may qualify for disaster relief loans.
- Loan Amount: The lesser of 3 months of working capital not to exceed a loan amount of $100,000
- Interest Rate: 0% for all business types except Agriculture Producers
- Amortization: 12 years
- Term: 3 years
- Repayment: No payment in first 12 months, amortized payments monthly for the following 24 months, one balloon payment payable at the end of the 3rd year
- Collateral: Blanket lien on all current business assets and any acquired in the future in highest available lien position
- Guarantors: All owners (individual or other business entities) owning 20% or more of applicant business must guarantee the loan.
Items needed for your application:
For the intended Borrower (Applicant Company, an Operating Company):
- ✔ Company Profile Sheet
- ✔ Signed W-9
- ✔ Signed Business Entity Certification
- ✔ For businesses with an operating history of one year or more, if available, the most recent year end accountant prepared financial statements or the most recent filed tax return. - OR - For businesses with less than a year operating history, the most recent available management prepared financial statements.
- ✔ Interim Financials (income statement at least) prepared by management from last full year statements (see bullet above) through current
- ✔ Debt Schedule
- ✔ Cash Flow Analysis
For the Guarantors (any owner, individual or business entity, with 20% or more interest in Borrower):
- ✔ Signed Certification Sheet (Individuals) (Business Entities)
- ✔ For individuals: A signed and dated Personal Financial Statement (Click Here for blank form) or provide what you have already prepared dated within last 12 months
- ✔ An individual credit report less than six months old for any individual with 20% or more ownership in the operating entity and if applicable, the project real estate being financed.
IN ADDITION TO THE ABOVE EXHIBITS - YOU MUST ALSO HAVE:
- ✔ A project narrative including the following information: (a) amount of the loan request (b) a brief description indicating whether or not the applicant business temporarily closed operations due to COVID-19 and if so, the date the closure started as well as the date operations resumed, if applicable (c) a brief description of the adverse financial impact caused to date by COVID-19 and (d) a brief description for how the working capital loan proceeds will be used to finance the business operations.
- ✔ The most recent year of financial statements for any entity other than an individual with 20% or more ownership in the eligible business enterprise.
- ✔ Fee Schedule
Please contact Michele Clapper, VP of Economic Development at for more information.