Small Business Grants in Pennsylvania (PA)
Securing a small business grant in Pennsylvania involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant grant opportunities for small businesses in Pennsylvania:
Small Business Advantage Grant
The Small Business Advantage Grant provides reimbursement grants ranging from 50% to 80% of eligible project costs to Pennsylvania small businesses to improve their operations, particularly in terms of energy efficiency and environmental protection. The grant is open for applications annually, with the 2023-2024 program opening on August 18, 2023. The application period will close when funding is exhausted or on March 22, 2024, whichever occurs first.
Small Diverse Business Resources
Pennsylvania offers specific opportunities and resources for small diverse businesses, which include minority-owned, woman-owned, veteran-owned, disabled-owned, and LGBT+-owned businesses. These businesses may qualify for various grants at the state and federal levels. Grants are highly competitive and typically require a substantial community impact.
Pennsylvania Global Access Program (GAP) Grant
The GAP grant is available for export-ready small businesses in Pennsylvania. The grant supports businesses that are looking to expand their global footprint.
Philadelphia’s Fair Chance Hiring Initiative (FCHI)
The FCHI program provides financial incentives to Philadelphia employers who hire local residents who have been previously incarcerated. Eligible employers can receive a $6 per hour wage reimbursement for each qualifying employee.
Pennsylvania State Small Business Credit Initiative (PA-SSBCI)
The PA-SSBCI offers two programs: the Revolving Loan Fund Program and the Direct Venture Investment. These programs use SSBCI funds alongside private funds to support small business loans to eligible businesses, including socially and economically disadvantaged individuals.
COVID-19 Relief Statewide Small Business Assistance
This program provides grants to small businesses adversely affected by the COVID-19 pandemic. To be eligible, businesses must be physically located in Pennsylvania, generate at least 51% of their revenues in Pennsylvania, and have annual revenue of $1 million or less prior to the impact of COVID-19.
ARPA Grant
The ARPA Grant is available to small businesses in the City of Reading that have not received pandemic-related funding from other sources and have experienced a drop in revenue directly attributable to the COVID-19 pandemic.
Pennsylvania Minority Business Development Authority-Revolving Loan Fund Capitalization Program (PMBDA-RLFCP)
The PMBDA-RLFCP program provides a source of funds with extended payment terms to successful minority businesses. The funds are to be used to make smaller loans to benefit minority businesses.
To apply for these grants, you will need to prepare a detailed application that demonstrates your eligibility, the impact of your business on the community, and how the grant funds will be used. It’s also important to reach out to the organization that administers the grant program for specific application instructions and additional information. Join POTD Today to Explore more about other Small Business Grants like Small Business Grants in Maryland (MD) and Small Business Grants in Rhode Island (RI).