Krueger leads bipartisan call to recapitalize state COVID-19 loan program
FOLSOM, April 7 – State Rep. Leanne Krueger led a bipartisan call for the Pennsylvania Department of Community and Economic Development to reopen access to the COVID-19 Working Capital Access Program as soon as possible by refilling the loan program with any available discretionary funds and allocating any available federal CARES Act funds to the effort.
The COVID-19 Working Capital Access Program launched March 25 to provide loans for Pennsylvania small businesses impacted by the COVID-19 pandemic, with a total of around $60 million available. Applications quickly surpassed available funding and the program was closed within days.
“Delaware County has been hard hit by COVID-19, but only 13 applications from within our county were submitted online before the program closed. Hundreds of our small businesses were shut out and unable to access this critical resource,” said Krueger, D-Delaware. “The Working Capital Access program fills a unique need for our locally owned small businesses, which will be key to creating jobs and rebuilding our local economy after this health crisis. I, along with my fellow Delaware County lawmakers, believe it is imperative that the program be recapitalized as quickly as possible.”
Krueger organized a bipartisan group of state representatives and senators to send a letter to DCED Secretary Dennis Davin, urging additional funding for the program. The letter can be found here.