PITTSBURGH (KDKA) – The Pittsburgh Economic and Industrial Development Corporation, Certified Economic Development Organization and the Urban Redevelopment Authority of Pittsburgh have announced they are waiving the application fee for all City of Pittsburgh businesses applying for Pennsylvania’s COVID-19 Working Captial Assistance Program.
“The PEIDC Board had initially settled on a $350 application fee and a 3% of loan proceeds underwriting fee to support the administration and loan underwriting operating costs of facilitating this program. In light of the great need of the borrowers and urgency of providing maximum relief to those businesses affected, the Board had agreed to eliminate all fees proposed for this program,” said PEIDC acting president Rebecca Davidson- Wagner.
The program offers 0% loans up to $100,000 for working capital for businesses.
The Commonwealth of Pennsylvania has funded this program for $60 million.
City of Pittsburgh businesses can get more information on the URA’s website.