The North Central Pennsylvania Regional Planning and Development Commission was excited to discuss a wide variety of upcoming projects for 2021.
Christine Perneski, Director of Enterprise Development, said one big development was that the commission was awarded $1.76 million from the U.S. Department of Commerce Economic Development Administration (EDA) through the Coronavirus Aid Relieve and Economic Security (CARES) Act. The money will be used to establish a new loan fund, providing low-cost, flexible financing to regional businesses for projects that will “prevent, prepare for and respond to the COVID-19 pandemic or economic injury caused by the COVID-19 pandemic.”
Features of the CARES Act can provide loans up to $100,000, as well as loans up to $500,000 with an expedited review and approval process. Loan payments are deferred for the first six months with 0% interest.
Perneski explained that the aforementioned funding is a loan, which will need to be paid back. In addition, the commission is also helping get the word out about the COVID-19 Hospitality Industry Recovery Program (CHIRP), which has set out to provide millions of dollars in funding assistance to the hospitality industry businesses adversely affected by the COVID-19 pandemic. This is a grant program, in which no payback is required.
In regards to CHIRP funding, Perneski noted that money lost by fraternal organizations due to fish frys would not be eligible, though businesses such as wineries that have a food service component would be eligible. Flickerwood Wine Cellars and Cocktail Lounge would be an example.
“North Central will be accepting the applications on Sunday night at midnight,” said Perneski. “North Central reviews them and the counties will distribute the funds. Some of the individuals, when they have smaller businesses, it takes awhile to get together their records to send in.”
Perneski described how beneficial the loan programs have been to local businesses, not only to keep them afloat during the pandemic, but also to help them expand.
“Some of the loans we’ve done was a dentistry place that was going up,” she explained. “They had modifications to make because of COVID-19 and they fit into that. We also had a surveyor who worked in Dubois and was able to get a loan due to losing his job due to COVID-19.”
Additionally, Perneski discussed changes to the Global Access Program, in which the state offers money for companies to travel internationally. Previously capped at $3,000, the program now provides up to $5,000 to enhance the capacity of small to mid-sized PA companies to increase export sales.
According to the pa.gov website, “The Office of International Business Development provides up to $10,000 per award period to qualifying PA companies to reimburse up to 75% of eligible expenses associated with specific export promotion activities. The program is funded in part through a grant with the U.S. Small Business Administration.”
The commission was also excited to welcome their new executive director, Jim Chorney, who had previously been serving for two years as interim executive director.
