Investment

Coronavirus News: New Programs Available For Those In Need Of Rent, Small Business Financing

PHILADELPHIA (WPVI) – New programs and extended deadlines are now in place for people seeking help with rent, small business financing and more.

Pennsylvania announced on Tuesday that it had extended unemployment benefits for an additional 13 weeks. New financing resources are now available for small businesses and others as well.

Manayunk Chambers Guest House, a bed and breakfast, has been closed since mid-March due to COVID-19.

“It brought the business to a complete halt,” said owner Mark Jerde.

And even as the economy reopens, struggles continue for small businesses.

“We were anticipating such a strong summer this year that never really produced,” Jerde said.

The good news is that grants ranging from $ 5,000 to $ 50,000 are now available. The first round of applications for the Small Business Assistance Grant program is open starting this week.

“A business must be physically located in Pennsylvania. It must have annual sales of $ 1 million or less and have 25 full-time equivalent employees or less,” said Blessy Thomas, of the Enterprise Center.

At least 50% of the grants will be awarded to historically disadvantaged companies.

Free student loan help is also available through a partnership between Pennsylvania Attorney General Josh Shapiro and a student loan counseling service called Summer.

“You can sync your loans, see everything you owe in one place,” said Founder and CEO Will Sealy.

Pennsylvania residents can now use Summer for free to get personalized loan savings recommendations.

“And so we enroll borrowers in these programs with A-to-Z support throughout the process,” Sealy said.

Additional help is also available for tenants and landlords. Applications for financial assistance through the Federal CARES Act are available from this week.

In Pennsylvania, you can start submitting applications from Monday July 6 through September 30.

Enrollment in the New Jersey COVID-19 Emergency Rental Assistance Program also begins on Mondays, but be aware that the enrollment period for this program ends quickly on Friday, July 10 at 5 p.m.

Also, be aware that LIHEAP, the energy consumption assistance program for low-income households, is running its recovery crisis program until August 31.

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