Financial Assistance Available for Small Businesses/Employees

Local

CDBG-CARES Act Grants through NEPA Alliance – Applications closed 5/31/22
Governor Tom Wolf announced $4 million in Community Development Block Grant-CARES Act (CDBG-CV) funding to support communities and their residents in Northeastern Pennsylvania.

NEPA Alliance through the Partnership for Regional Economic Performance (Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill, and Wayne counties) will be providing grants of up to $50,000 for small businesses and up to $15,000 for microenterprises (small businesses that employ few people) located in one of those 7 counties that have been severely impacted due to COVID-19. NEPA Alliance anticipates approximately 150 jobs will be retained or created. Click here for the Program Overview.

The program launched on Monday, April 25, 2022 and applications closed on May 31. Businesses located in Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill, or Wayne County who have already applied will be contacted for additional information. Please know that this grant program is somewhat more complicated than previous CARES Act programs and it is taking some time for files to be completed and reviewed. Rest assured, each applicant is in the queue in the order in which applications were received.

The SBDCs at Wilkes University and The University of Scranton will be offering individual guidance at no cost to applicants of this program.

If you are not already working with the SBDC, please visit this link to request services: https://pasbdc.ecenterdirect.com/signup

SBDC Contacts:

For businesses located in Lackawanna, Monroe, Pike, and Wayne Counties:
Donna Simpson, The University of Scranton SBDC, donna.simpson@scranton.edu or 570-941-4176

For businesses located in Carbon, Luzerne, and Schuylkill Counties:
Kristin Sassi, Wilkes University SBDC, kristin.sassi@wilkes.edu or 570-408-4351

Due to an anticipated high volume of applications, it is likely that not all applicants will be awarded a grant.

City of Scranton Micro-Grant (Added 2/17/22)
The CDBG Small Business Micro-Grant Program is for new or early-stage businesses located in Scranton’s low-moderate-income demographic areas (LMA) and will supply funds ranging from $2,500 to $5,000 per business through the 2022 year to assist with start-up costs. Businesses must be in a qualifying Low-to-Moderate service area within the City of Scranton (click here for map). Click here for more information or e-mail Tiffany Cross-Luciani in the City of Scranton Office of Economic and Community Development.

MetroAction COVID Recovery Loan Program (Added 1/11/22)
The Lackawanna County Recovery Loan Program has been created to provide capital to businesses impacted by the COVID-19 pandemic. The program is administered by MetroAction, a non-profit affiliate of the Greater Scranton Chamber of Commerce. Funding for this program was provided by Lackawanna Industrial Fund Enterprises (LIFE), Lackawanna County, and the Commonwealth of Pennsylvania.

To review eligibility requirements, terms, and rates please review the program guidelines at www.metroaction.org. Loans will be funded on a first-approved, first-funded basis until funding is exhausted.

State

Creative Entrepreneur Accelerator Program Grants
The Creative Entrepreneur Accelerator Program is a new program funded by the Pennsylvania Council on the Arts (PCA), a state agency under the Office of the Governor, and administered regionally by the Pennsylvania Partners in the Arts (PPA), PCA’s statewide network of re-granting partners. Click here for more information or e-mail Leigh Fennie at The University of Scranton SBDC, a participating referral partner.

Creative Business Loan Fund
In partnership with Bridgeway Capital and Community First, the Pennsylvania Council on the Arts is pleased to announce the launch of the Creative Business Loan Fund. This fund makes available $2.2 million in the form of affordable, flexible financing to small, creative businesses across the commonwealth. Click here to learn more. 

Federal (SBA COVID-19 Relief Options)

Shuttered Venue Operators Grant Application Portal

As of August 20, 2021, SVOG is no longer accepting new applications; however the SVOG portal (click here) remains open to all active applicants and awardees and SBA will begin sending invitations for supplemental awards. SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated a 70% loss when comparing 2021’s first-quarter revenues to the same in 2019. Supplemental award applicants can choose to apply for any amount up to 50% of their original SVOG amount, with a $10 million cap of the initial and supplemental awards combined, according to the law. The supplemental awards also allow SVOG recipients to extend the time to use their grant funds for expenses accrued through June 30, 2022 and lengthen their budget period to 18 months from the initial grant’s disbursement date.

The U.S. Small Business Administration officially opened the Shuttered Venue Operators Grant (SVOG) application portal on April 8, 2021 at 12 p.m. EDT for operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.

Economic Injury Disaster Loan (EIDL)

COVID-19 EIDL Update: As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances. As of May 6, 2022, the COVID-19 EIDL funds are exhausted. SBA is no longer accepting COVID-19 EIDL loan increase requests or requests for reconsideration. Approved borrowers that have not signed their loan closing documents must do so by May 16, 2022, or will face delayed disbursement or possible loss of funding. The COVID-19 EIDL portal (covid19relief1.sba.gov, also known as the “RAPID portal”) will close on May 16, 2022. Borrowers should download their loan documents from the portal prior to this date. 

SBA continues to offer other funding options for small businesses including traditional SBA loans.

Paycheck Protection Program (PPP)

The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. Click here for more information.


Important COVID-19 Information for Small Businesses

Federal

State


Helpful Tools


Our Network & Partners


Checking on your Disaster Loan Status

  • Paycheck Protection Program Loan
    Contact your lender.
  • SBA’s Economic Injury Disaster Loan
    If you have already submitted an application for an SBA Economic Injury Disaster Loan (EIDL) as a result of the Coronavirus Pandemic, your request will be processed in the order it was received and you will be contacted once a decision has been reached. The SBA Disaster Customer Service Center is available to answer questions. Please have your loan application number available to expedite your inquiry.📞Call: 1-800-659-2955 or (TTY: 1-800-877-8339) or
    📧 Email: DisasterCustomerService@sba.gov

Items to gather as you prepare for obtaining financial assistance

  • Business financial records, tax returns, equipment/contents, employee information, etc.
  • Insurance policies, inventory and asset lists, client/customer information, profit and loss statements, etc.
  • Important Numbers: Your accountant, insurance agent, banker, SBDC Consultant, etc.

We’re here to help. Contact us today to set up a time to discuss your small business needs.

SBDC Business Consultants are available to assist existing clients as well as take on new clients and referrals.

Current SBDC Clients should reach out directly to their SBDC Business Consultant.

New requests for for-profit small business assistance can reach out to us as follows:

We also have interns available to help your business, supported by CARES Act Funding. Learn more here!

Please continue to reach out to The University of Scranton SBDC for small business assistance or to refer your clients or customers.