Pa. 30 Day Fund surpasses $1 million in loans

The Pennsylvania 30 Day Fund said Wednesday that it has provided $1 million in forgivable loans to more than 335 small businesses across the state.

This comes less than 60 days after the nonprofit organization was founded on May 6. More than 40% of the businesses funded to date are minority-owned, and over 40% are women-owned, the organization said in a press release. All have between three and 30 employees, have been in business for more than a year, are for-profit and are owned by Pennsylvania residents. Together, these small businesses directly employ over 1,300 in 34 counties, and indirectly support thousands of additional jobs in our communities.

“This has been a labor of love for all of the 70-plus volunteers who have devoted themselves to helping as many Pennsylvania small businesses as possible at this most challenging time,” said Jeff Bartos, co-founder and board member of the PA 30 Day Fund, in a statement. “Over the past 60 days, we have received donations ranging from $3 to a challenge grant of $1 million. Some families have donated their entire federal stimulus check, and a police officer donated $1,000 to help businesses that had been damaged by looting. It has been inspiring and encouraging to see Pennsylvanians come together from across the commonwealth to support our economy’s most valuable asset: small businesses.”

The funds disbursed to small businesses by the PA 30 Day Fund do not need to be repaid. If businesses who receive the fund’s assistance do, at a later date, wish to “pay it forward” to another Pennsylvania small business in need of assistance, they may do so by directing those dollars back to the fund, which will disburse the funding to another Pennsylvania business in need.

All donations collected by the PA 30 Day Fund are given to recipient businesses without offsets, administrative fees, or any other expenses. Donations and applications can be submitted at www.PA30DayFund.com.