CDFIs offer financial products and services tailored to the individuals they serve. We are private financial institutions that are located in rural, urban, and Native communities nationwide. In order to get funds to businesses in need as quickly as possible, the second application window will be the final opportunity to apply for the program. Each CDFI has an area of specialty.

The funding was developed in partnership with state lawmakers and allocated through the recently enacted state budget, which included $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, of which $225 million was earmarked for relief for small businesses. The funds will be available through three programs: • $100 million for the Main Street Business Revitalization Program for small businesses that experienced loss as a result of the governor’s March 19 order relating to the closure of all non-life-sustaining businesses and have or will incur costs to adapt to new business operations related to COVID-19. • $100 million for the Historically Disadvantaged Business Revitalization Program for small businesses that experienced loss as a result of the business closure order, have or will incur costs to adapt to new business operations related to COVID-19, and in which socially and economically disadvantaged individuals own at least a 51 percent interest and also control management and daily business operations. Financial Documents and Information. The PA CDFI Network is a group of 17 PA-based community development financial institutions that primarily provide financing options for small businesses. Prepare to talk to a CDFI using the tab at the right of this page. Read about CDFI borrowers on OFN’s borrower success stories page.

Tom Wolf said. CDFIs are also financial first responders in crisis. The small businesses that have been approved … *Each CDFI will have its own requirements and forms to complete — these are examples of the types of materials you may be asked to supply. We have helped small businesses successfully navigate national emergencies and disasters, such as 9/11, the Great Recession, and Hurricanes Katrina, Sandy, and Harvey. Middletown, PA 17057-1445 Scranton Neighborhood Housing Services, Inc. Washington County Council on Economic Development, West Philadelphia Financial Service Institution, Community Development Financial Institutions Fund. Statewide, Pa. – August 10, 2020 – The Pennsylvania CDFI Network and the PA State Senator Democrats today announced $96 million in grant awards under the COVID-19 Relief Pennsylvania Statewide Small Business Assistance program. Statewide, Pa. – August 10, 2020 – The Pennsylvania CDFI Network and the PA State Senator Democrats today announced $96 million in grant awards under the COVID-19 Relief Pennsylvania Statewide Small Business Assistance program. *The CDFI Locator member information is updated regularly. CDFI must meet state accreditation standards and program underwriting guidelines; Minimum two years lending experience; Focus on economic development and job creation; Funding .

View state impact data by our CDFI Program and NMTC Program awardees to the right, and view the full list of awards made to organizations in this state below. Follow these simple steps on the CDFI Locator* to get in touch with the right CDFI for you. Each CDFI has an area of specialty. United States Department of the Treasury, USA.gov|Grants.gov|Regulations.gov|OIG|Treasury.gov|Small & Disadvantaged Businesses|No Fear Act. • $25 million for the Loan Payment Deferment and Loss Reserve Program, which will allow the CDFIs the opportunity to offer forbearance and payment relief for existing portfolio businesses that are struggling due to the impact of COVID-19, as well as shore up the financial position of the CDFIs that are experiencing significant increased defaults in their existing loan portfolios. Have you already tried and been denied a bank loan? We provide responsible, affordable loans to small businesses underserved by mainstream finance. Neighborhood Housing Services of Greater Berks, Inc. New Horizons Community Federal Credit Union, Pennsylvania Appalachian Capital Alliance, Pennsylvania Assistive Technology Foundation, Rural Business Innovation Corporation (RBI). Here are 6 tips to help solve your problem, Your unemployment compensation benefits run out? Please turn on JavaScript and try again. Be prepared to share financial documentation, such as bank statements, tax returns, profit and loss statements, and a list of collateral. During the COVID-19 pandemic, we are working with partners like Google, the Small Business Administration, and numerous foundations and banks to help America’s most at-risk businesses survive and, ultimately, recover from the crisis. Independence Community Commercial Reinvestment Corp. Lancaster Housing Opportunity Partnership, National City Community Development Corporation. CDFIs offer small business financing—with products ranging from relief and recovery loans to financing for working capital—as well as technical expertise to help you succeed. Many CDFIs are regional lenders, others serve primarily rural, urban, or Native communities. Terms. Pa. has new program that will extend them, Phone scam threatens arrest unless the potential victim calls back, Monday is last day to register to vote in June 2 primary; deadline to get mail-in ballot approaches, Everything you'll need to know about a boil water advisory, 20 S. Union Street CDFIs lend to borrowers who are minority, female, underserved, and rural or do not have a relationship with a mainstream bank. Loans from $250,000 to $5 million. About $225 million from a statewide grant program will be used to support small businesses that were impacted by the COVID-19 public health crisis and subsequent business closure order. 717-944-4628 CDFIs (community development financial institutions) are different kinds of lenders. Needs for a Loan. The small businesses that have been approved for awards span all 67 Pennsylvania counties. For your first meeting, be prepared to discuss and share*: Your Story. Opportunity Finance Network (OFN), a leading national network of CDFIs, offers a CDFI Locator to help your small business or microenterprise find a CDFI serving your needs and geographic area. 3) Identify a CDFI and Prepare for the Conversation. Not all CDFIs offer the same types of loans!

Some CDFIs work with small businesses, others work with housing developers, and many lend to build community facilities.
The small businesses that have been approved for awards span all 67 Pennsylvania counties.ce program. Once you’ve filtered based on your needs, visit the websites of all CDFI choices offered — understand what types of loans they offer, as well as the communities and geographies they serve.Email the CDFI you select. The second application window opened on August 10th and closed on August 28th. Visit the PA CDFI Network at pabusinessgrants.com to view the latest list posted by the PA Department of Community and Economic Development. “These grants and the relief they will […] Where others see risk, we see opportunity: CDFIs specialize in serving business owners who may not qualify for a traditional business loan from a mainstream financial institution. Aliquippa Alliance for Unity and Development, Inc. Economic Development Council of Northeastern Pennsylvania, Enterprise Center Capital Corporation, The, Enterprise Development Fund of Erie County. Are you concerned about predatory online lenders? Closed: New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas. Why are you contacting a CDFI?



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