Delco presents aid programs for small businesses
Business leaders outlined a variety of recovery programs aimed at assisting small businesses trying to survive the havoc unleashed by the COVID-19 pandemic and measures to mitigate it.
The Bringing Back Delco Task Force, a partnership of the Delaware County Chamber of Commerce, Delaware County Council and the Delaware County Commerce Center, held a webinar Friday providing an update to businesses about funding mechanisms available to help them survive.
“The devastation of the community has just been incredible,” said Bob Simpson of Brinker Simpson. “But there’s always some good news and the good news is everybody has come together locally and regionally to move forward and make sure we’re moving in the right direction to make sure we’re assisting our small and medium sized businesses and in fact, all of our businesses.”
In December, he said, Delaware County’s unemployment rate was about 4 percent, as of May 31, it was 14.8 percent.
Among the funding programs discussed was the Pennsylvania Small Business Grant Program, a $225 million program being developed at the state level to allocate $100 million to Main Street Program businesses and another $100 million to those that have historically been disadvantaged. The remaining $25 million will be distributed to Community Development Finance Institutions, which are 17 non-profit lenders throughout the state that specifically work with low income areas.
Through the Small Business Grant Program, according to Sam Rhoads of PIDC, grants will range between $5,000 and $50,000 for businesses with 25 or fewer employees and with revenues of $1 million annually or less.
The businesses must demonstrate how they were impacted by COVID and they will have a week or two to complete their application, Rhoads explained.
“We wanted to not recreate the panic sense that happened in the early days of the PPP program, for example, where people were rushing in,” he said, as he advised businesses to gather their tax returns, financial statements and photo IDs now as the program is developed. He also recommended businesses both through narrative and with numbers demonstrate how they were hit by the pandemic.
When the program opens, information will be available at pabusinessgrants.com.
Regarding the Paycheck Protection Program, Simpson explained there is still $100 billion left in the program, although the applications close June 30. To apply for the program, businesses apply through their financial lenders, who, Simpson said, are saying it takes three days to process the application, so he recommended businesses act swiftly.
“So there’s plenty of money left to go out there,” he said. “So anybody who hasn’t applied yet who does qualify should apply and who qualifies is anybody who has faced economic uncertainties due to the pandemic. So, it’s a very broad definition of anybody who qualifies.”
It has now been expanded from an eight-week program to a 24-week program in which 60 percent of the funding must be allocated for payroll and payroll-related expenses such as health insurance coverage and retirement benefits.
Rob Goza of the U.S. Small Business Administration said Economic Injury Disaster Loans have a portion that is forgived based on the number of employees a business has and it caps out at $10,000. These loans are open right now for application.
He said there have been 105,000 of these forgiveable loan advances distributed, totaling $351 million. For information on PPP, visit
sba.gov/funding-programs/loans/coronavirusrelief-options/paycheck-protection-program.
Toni Truehart of Entrepreneur Works outlined programs available in Chester and Upper Darby for businesses in those specific locations. Both, she said, anticipate a rollout in early July.
In Chester, microbusinesses of five or fewer employees will be eligible for grants between $2,500 and
$5,000 and will have a twoweek time period to apply, along with technical assistance. She recommended businesses watch the Chester website at chestercity.com and her organization’s at myentrepreneurworks.org for more information as it becomes available.
In Upper Darby, Truehart explained that lowto moderate-income businesses will be eligible for
$2,500 grants and the township has set aside
$350,000 for this. Again, she directed township businesses to visit upperdarby. org or myentrepreneurworks.org for more details as they come.
In addition, Delaware County is about to roll out its second phase of the Delco Strong program. The first was meant to direct
$7,500 grants to 800 eligible businesses, through the use of county Redevelopment Authority and CARES Act funds to businesses with
$4.5 million annual revenues or less. That money is in the process of being distributed now.
The second phase will award $10,000 grants to businesses with $4.5 million or less in annual revenues and $20,000 grants to businesses with $9 million or less. Non-profits will also be eligible this round and businesses that were approved in the first round will receive an additional $2,500. Guidelines for the program will be available June 24 at delcostrong.delcopa.org. On July 7, for-profit businesses will have three days to apply and non-profits will have two weeks. The county is using CARES Act funding to fuel this program.
More information for businesses can be seen at bringingbackdelco.com, where businesses can register to purchase $10 reopening supply kits that will be distributed June
22 and 23 at the Broomall Fire Co.