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We are happy to report that program guidelines for CWCA, a program supplying working capital to businesses negatively impacted by the COVID-19 pandemic, were approved by the PIDA (PA Industrial Development Authority) Board on March 23, 2020.

PROGRAM DETAILS (Subject to change)

Where to Apply:

The Schuylkill Economic Development Corporation (SEDCO) and the Northeast Pennsylvania Alliance are the Certified Economic Development Organizations (CEDOs) for Schuylkill County and are your portal to this funding stream.

Eligible Businesses:

Any for-profit businesses located in Pennsylvania and with 100 or fewer employees worldwide are eligible to apply for disaster relief loans.  Your application must be processed through the CEDO designated for the county where your business is physically located, which will be SEDCO or NEPA for Schuylkill County.

Eligible Uses of Loan Proceeds:

  • 100% of working capital costs incurred in the last three months for most businesses (including debt service, excluding fixed assets). Businesses in the retail/service sector can include working capital costs that were incurred in the last six months, however only 50 percent of those costs will be eligible which calculates to three months of business expenses
  • “Future” or “projected” costs are not eligible
  • NOTE:  This program will require you to document the last three (3) months [ or six (6) months for retail & service companies ] of working capital expenditures

Available Funding:

There is $61 million in total available across the Commonwealth as of March 23, 2020.  Maximum loan size per company is $100,000.  Note:  Funds are expected to be in high demand.  It is very likely demand for loan funds will outstrip supply.

Loan Amount:

  • The lesser of three months of working capital or $100,000
  • Retail & Service Companies – Lesser of one half (1/2) of six months of working capital or $100,000

Interest Rate:  

0% for all business types except Agriculture Producers which is  2%


12 years


three years


  • A commitment fee of 1 percent will be charged
  • Borrowers will also be asked to cover any “out of pocket” costs incurred by SEDCO or NEPA
  • The closing fee and out of pocket costs can be financed as part of the loan


No payments in first 12 months, amortized payments during years two (2) and three (3), one balloon payment for the remaining balance after year three (3)


The loan shall be secured by a blanket lien on all business assets currently owned or acquired in the future at the highest lien position available


The loan shall be guaranteed by any individual or entity with a 20 percent or greater ownership interest in the eligible business enterprise

Credit Criteria:

Some credit criteria for approval (as evaluated by PIDA) may include:

  • At least breakeven performance in the prior year
  • Acceptable personal credit history of the guarantors
  • Historical cash flow adequate to pay obligations
  • 1:1 debt service coverage ratio

Application Materials: please prepare and submit the following:

Please view the BORROWER Checklist.
For the intended Borrower (Applicant Company, an Operating Company):

For the Guarantors (any owner, individual or business entity, with 20% or more interest in applicant business):

COVID- 19 Working Capital Access Guidelines_2020

SEDCO — Schuylkill
Economic Development

Union Station
One Progress Circle — Suite 200
Pottsville PA 17901-3070
Voice: 570-622-1943
Fax: 570-622-2903

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This website made possible in part by a grant from PPL Electric Utilities

Copyright 2020 Schuylkill Economic Development Corporation

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