The Department of Community and Economic Development announced a $15 million investment to support small businesses across Pennsylvania through the Historically Disadvantaged Business Assistance Program.
This creates 10 micro grant programs that will help small businesses with startup and expansion costs. The programs will be administered through either a service center, regional economic development organization or institution of higher education.
More than half, or $8.45 million, was awarded to the Pennsylvania CDFI Network, providing support to all 67 counties. CDFI is short for community development financial institutions which provide affordable loans and technical advisory services to companies unable to access financing through traditional channels.
Click here to read more from our partners at the Pittsburgh Business Times.
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