UPDATED – 04.01.20 at 8:00AM
The PA Department of Community & Economic Development notified all Certified Economic Development Organizations last night that it has received applications well in excess of the $60 million available in the fund. At this time, DCED is no longer accepting applications as it works to review the applications submitted. The state has not indicated how long it expects its review process will take or when CEDOs will be notified of the status of any submitted applications, however, we know it is the state’s intent to take these steps as quickly as it can.
EDC will be notifying all Lancaster County businesses who submitted an application to us over the last week (program opened on 3/25) of the status of our review of your materials. Our intent is to get all notifications out this week.
We strongly encourage all businesses who contacted us to review programs coming out of the CARES act, including the Paycheck Protection Program which will be administered through our local banking institutions and available starting this Friday. We will be updating the guidance on our webpage and also encourage you to visit www.lancasterchamber.com for additional information. Please note that we expect our banking partners to receive strong interest in this program and, on their behalf, ask for your continued patience as they navigate these new details. For those that are able, we also encourage outreach to local accounting and law firms, many of which are also focused on learning how to advise businesses on these emerging programs during these challenging times.