minority-owned-businesses-eligible-for-state-grant-funding

Minority-Owned Businesses Eligible For State Grant Funding

Minority-owned businesses in Lawrence County can apply for funding through a state grant program.

The state Department of Community and Economic Development is partnering with the PA Community Development Financial Institutions Network to administer Historically Disadvantaged Business Assistance grants from a pool of $10.5 million in state American Rescue Plan Act funding.

To be eligible for the grant program, a small business must: be at least 51 percent owned and operated by a Black, Hispanic, Native American, Asian American or Pacific Islander, generate annual revenues of less than $1 million, be located in Pennsylvania and generate at least 51 percent of revenues in the state, employ 25 or fewer full-time employees, were financially impacted by the pandemic, were in operation on or before March 17, 2020, be in operation when they apply for and receive any grant funding, file a Pennsylvania tax return and be current on all taxes.

The grants can be used for working capital, inventory, equipment, safety and security equipment, marketing and costs to business operations.

The program will give priority to small businesses:

•Located in a low-income census tract as defined by the U.S. CDFI, which is New Castle, Pulaski Township and Ellwood City’s Third Ward.

•Municipalities with crime rates higher than the state average per capita, which is New Castle, North Beaver Township and Taylor Township.

•Located in the Elm Street area of the Lower East Side in New Castle.

Businesses have until Feb. 23 to apply at pacdfinetwork.org/about/hdbagrants/.

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