The CWCA Program is eligible to businesses with 100 or less employees worldwide and offers up to $100,000 repayable at 0% or 2%, depending on industry type, over a three-year term. With no payments due in the first year, payments on a twelve-year amortization over the remaining term, and a balloon payment upon maturity.
Funds may be used for a broad array of working capital purposes and will be disbursed based on working capital expenses spent over the past three to six months.
Loans shall be secured by a blanket lien on business assets and guaranteed by any individual or entity with a 20% or greater ownership interest.
Applications for the CWCA program must be submitted to a local CEDO (Certified Economic Development Organization). Bedford County applicants please contact:
Bedford County Development Association:
Tabitha Barbarito
814-623-4816
Full guidelines available via the link below:
https://dced.pa.gov/download/covid19-working-capital-access-guidelines/?wpdmdl=93648