Small Business Economic Resources
As of April 3, 2020
SBA Economic Inquiry Disaster Loans
- COVID-19 SBA Economic Injury Disaster Loan Application
- PA_16360 EIDL Fact Sheet
Payment Protection Program
- Paycheck Protection Program FAQs for Small Businesses
- PPP — Overview
- PPP Borrower Information Fact Sheet
- PPP–Fact-Sheet – Borrowers
- USChamber Small Business ELA Loan Guide
Families First Coronavirus Response Act – Tax Credits
PIDA-COVID-19 Working Capital Access Loan Program
- As of March 31, 2020, the PA Department of Community & Economic Development is no longer accepting applications for this program.
Existing EDC Finance Corporation Borrowers
SBA 504 – EDC Finance has been informed by our SBA 504 trade organization, under the CARES Act approved March 27, 2020, SBA will be paying all principal, interest, and fees that are owed on existing SBA 504 loans in a current regular servicing status beginning with the April payment and extending for a period of 6 months!
As a result, all SBA 504 borrowers through EDC Finance who were current on their payments through March, should not have incurred an ACH debit to your account on April 1. It appears you will be receiving 6 months of debt forgiveness, not a deferral.
EDC Finance is awaiting additional communication from SBA during the month of April and will be in touch as soon as possible with further details and confirmations. In the meantime, we wanted to provide this update to help all borrowers understand why a payment was not debited from your account here in April.
PIDA – Due to the extenuating circumstances, DCED has opted to defer the April 1, 2020 payment.
- Payments on ACH will not be electronically withdraw.
- Payments made by check are not required, but will be applied if received.
- No late fees will be assessed for any loan in April.
- This is a deferral not forgiveness of the April payment to a later time.
- DCED will provide further guidance on repayment during the month of April.
For those that still want to make their PIDA April payments please mail payment (with April Payment in memo line) to:
DCED Loan Accounting
P.O. Box 884
Harrisburg, PA 17108-0884