ARTICLE
Pennsylvania CDFI Network Historically Disadvantaged Business Assistance Program Grant Cycle Open from February 5 through February 23, 2024 Grant Information Grant amounts will range from $2,500 to $10,000. Owners of multiple businesses will be considered for only one grant. The grant amount request should be based on past and anticipated costs associated with, but not limited to, the following: • Working capital • Inventory • Equipment • Safety and security equipment • Marketing • Costs to support the ongoing operation of the business Eligible businesses may not use the grant funds for expenses already paid for with other relief measures such as federal, state, or local grants and/or loan programs. Please visit the official grant website for more information: https://pacdfinetwork.org/about/hdbagrants/ Scroll to the bottom of the page to view the grant application. Grant Prioritization The program will give priority to small businesses located in: • A low-income census tract as defined by the U.S. CDFI Fund • A municipality that has a crime rate higher than the state average per capita • A municipality that has a crime rate 125 percent of the state average per capita • A designated priority commercial area, which includes Commercial Corridors (for Philadelphia) and active Main Street Program areas Eligibility Requirements To be considered eligible for this grant program, a small business must: • Be at least 51% owned and operated by individuals that identify as African American, Black, Hispanic, Native American, Asian American, or Pacific Islander. • This targetpopulation is based on the U.S. Treasury Department’s definition of disadvantaged individuals that historically lack access to financial services, • Generate annual revenues of less than $1 million, • Generate 51% or more of revenues in Pennsylvania, • Employ 25 or fewer full-time equivalent employees, • Have been negatively impacted by COVID-19, • Be in operation on or before March 17, 2020, • Be in operation when they apply for and receive HDBA grant funding, • File a Pennsylvania tax return, and • Be current on federal, state, and local taxes.
Pennsylvania CDFI Network Historically Disadvantaged Business Assistance Program
Grant Cycle Open from February 5 through February 23, 2024
Grant Information
Grant amounts will range from $2,500 to $10,000. Owners of multiple businesses will be considered for only one grant. The grant amount request should be based on past and anticipated costs associated with, but not limited to, the following:
• Working capital • Inventory • Equipment • Safety and security equipment • Marketing • Costs to support the ongoing operation of the business
Eligible businesses may not use the grant funds for expenses already paid for with other relief measures such as federal, state, or local grants and/or loan programs.
Please visit the official grant website for more information: https://pacdfinetwork.org/about/hdbagrants/ Scroll to the bottom of the page to view the grant application.
Grant Prioritization
The program will give priority to small businesses located in:
• A low-income census tract as defined by the U.S. CDFI Fund • A municipality that has a crime rate higher than the state average per capita • A municipality that has a crime rate 125 percent of the state average per capita • A designated priority commercial area, which includes Commercial Corridors (for Philadelphia) and active Main Street Program areas
Eligibility Requirements
To be considered eligible for this grant program, a small business must:
• Be at least 51% owned and operated by individuals that identify as African American, Black, Hispanic, Native American, Asian American, or Pacific Islander. • This targetpopulation is based on the U.S. Treasury Department’s definition of disadvantaged individuals that historically lack access to financial services, • Generate annual revenues of less than $1 million, • Generate 51% or more of revenues in Pennsylvania, • Employ 25 or fewer full-time equivalent employees, • Have been negatively impacted by COVID-19, • Be in operation on or before March 17, 2020, • Be in operation when they apply for and receive HDBA grant funding, • File a Pennsylvania tax return, and • Be current on federal, state, and local taxes.