SPC Announces New 0% Interest COVID-19 Recovery Loan Program
The Southwestern Pennsylvania Commission’s (SPC) new COVID-19 Recovery Loan Program is designed to help small businesses recover following the COVID-19 pandemic. The loan features a 0% interest rate, with no payments due for the first six months. Please view the video below to learn more about this new program, and its eligibility requirements. Funding for this new loan program is limited, so if you are interested in taking an SPC COVID-19 Recovery Loan, please contact Steve Meredith, SPC’s Business Finance Manager, via email at firstname.lastname@example.org.
PA 30 Day Fund
The nonprofit Pennsylvania 30 Day Fund was launched with the goal to help save as many Pennsylvania jobs as possible while small businesses await recently approved federal funding. Pennsylvania businesses that qualify for assistance from the Fund are:
- Small businesses that employ three to 30 people;
- Based in Pennsylvania and have been operating for at least one year;
- Owned and operated by a Pennsylvania resident.
The funds dispersed to small businesses by the Pennsylvania 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. Please visit https://pa30dayfund.com/ to learn more.
COVID-19 Working Capital Loan program
Thank you very much for your interest in the PIDA CWCA Working Capital Loan Program. PIDA has informed SPC that their office has received 890 applications from across the Commonwealth, totaling $75.6 million in requested funds. As you may be aware, PIDA only had $61 million to disburse through the CWCA program. Therefore, PIDA is no longer accepting applications for the program at this time.
In the event that the program is reauthorized, and you have already submitted an application, SPC will continue to process your application at that time.
There are still funding options available through the federal government, and we have provided links to those programs below. We would encourage you to apply for federal funding through the appropriate agencies:
Own a small business? SPC provides assistance to small and mid-sized businesses in the region through loans, procurement, and export assistance.
Small Business Loans
SPC’s Business Finance Assistance program works with entrepreneurs to assist them in starting, developing and expanding their businesses. SPC can make loans and provide assistance to high tech, oil and gas, agricultural, tourism, recycling, manufactures, many additional types of for profit companies.
- Business Finance Program Overview
- Pennsylvania Industrial Development Authority (PIDA) Loan Fund Overview
- Revolving Loan Fund Overview
Loan Review Committee
Our Loan Review Committee meets on a monthly basis to review applications and make recommendations to the SPC Board of Directors, which makes the final decision on a loan approval.
City of Pittsburgh
SPC’s Export Development Program seeks to create and retain jobs by assisting local business growth through export sales. SPC’s Export Development staff offer consultative services to small and medium-sized companies.
In addition, SPC works with a global network of Authorized Trade Representatives covering over fifty countries. We provide a wide range of services including market research and market entry strategies.
For additional information, visit https://dced.pa.gov/business-assistance/international/trade/
SPC also works closely with various organizations in the region to promote exports and international trade.
- Department of Community and Economic Development, Commonwealth of Pennsylvania
- Saint Vincent College SBDC, Center for Global Competitiveness
- University of Pittsburgh Small Business Development Center
- U.S. Department of Commerce, U.S. Commercial Service
- U.S. Appalachian Regional Commission
SPC’s Procurement Technical Assistance Center (PTAC) helps companies in the region with their efforts to market to and contract with federal, state and local government agencies. SPC provides one-on-one counseling and training with an emphasis on small businesses with minority, female or service-disabled veteran owners to help facilitate their participation in the government marketplace.
SPC shares a Department of Defense (DOD) Cooperative Agreement Grant with Indiana University of Pennsylvania that enables maximum effectiveness with limited resources. The following organizations assisted in our Government Procurement Assistance program:
- Department of Defense (DOD)
- U.S. Small Business Administration
- Minority Purchasing Council
- Minority Business Opportunity Committee
- PA Department of General Services
- PA Department of Community and Economic Development
- Local Small Business Development Centers
- Department of Energy (DOE)
- Department of Veterans Affairs (VA)
This procurement technical assistance center is funded in part through a PTAP cooperative agreement with the Defense Logistics Agency.
Sign up for counseling from SPC’s Procurement Technical Assistance Center (PTAC).
Keystone Opportunity Zones
KOZ, or Keystone Opportunity Zones, are commercial, industrial and residential sites where most state and local taxes have been eliminated. For more information visit: https://dced.pa.gov/business-assistance/keystone-opportunity-zones/
Business Assistance Contacts
Manager, Government Contract Procurement Program
(412) 391-5590 x308
Assistant Manager, Business Finance Assistance
(412) 391-5590 x350