From staff reports
The Northwest Pennsylvania Regional Planning and Development Commission in Oil City has begun accepting applications for interest-free loans to small businesses in Venango, Clarion, Forest Crawford and other regional counties that have undergone financial distress because of the COVID-19 pandemic.
The loan fund was created from a grant awarded to the Northwest Commission through the U.S. Economic Development Administration CARES Act funding.
Loan proceeds can be used to provide capital for operating expenses or acquisition of COVID-19 related machinery and equipment. Requested loan amounts can be between $5,000 and $500,000 with interest rates fixed at 0% for the term of the loan and the first 12 payments deferred.
More information is available by calling Jacob McCord-Wolbert at (814) 677-4800, Ext. 112, or emailing jacobm@northwestpa.org.
